Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-07-12
State bonds easy.
Railroad bonds irregular.

State bonds easy.
Railroad bonds irregular.
Stocks-The bull manipulation in
Union Pacific turned the market from
a reactionary course to-day and made
the tone during the latter part of the
session of the stock exchange strong
throughout. The later strength was
not sufficient In all cases to entirely
wipe out the earlier losses, but they
were in all cases much reduced. There
We're times during the day when Union
Pacific was practically the only stock
which stood firm against the tide of
reaction. The support of the stock
was very confident and on an enormous
scale. There was no special news to
explain the movement, aside from the
general conditions in It's territory and
its finances. No suggestion has been
offered that the dividend rate is likely
to be increased over that of ia per
cent declared for the last Semi-annual
period. The government crop report
was an important influence in the
stock market all day. An effort was
made to ignore it's significance in the
early dealings on the ground that the
weather bureaus weekly summary,
reporting abundant rains in the west,
must be accepted as modifying the
conclusions of the governments
monthly report as it covered period
a week later than the latter But
when trading began on the produce
exchange the jump in wheat there
nullified this argument. St. Paul's
heavy decrease In earnings for the first
week in July added to the weakness in
the granger group and there were
sharp declines in all the principal
members of the group. The corn car
rying roads were relatively firm and
the bears. who have sold short in the
southwesterns on the cotton crop pros
poets, were driven to cover. With this
exception and some strength in the
local traction group and in sugar and
tobacco, the market became generally
heavy, but ethe persistent strength of
Union. Pacific finally encouraged a
growing bull following which mani
tested itself first in Rock Island and
then developed in Southern Pacific and
Missouri Pacific. In spite of the con-
tinued strength in the wheat market
and the sharp advance in the price of
corn, the market continued pretty
steadily upward from that time until
profit taking by commission traders in
the closing dealings caused the IN
regular tone with winch the market
closed. The extreme advance in
Union Pacific was 31a. Rock Island is
UP IN and Missouri Pacific and South
ern Pacific large fraction. Other
wise the net changes in the leading
railroads are small and mixed st.
Paul loses a point net. The decision
of international houses not to ship
gold, on to-morrow's steamer had some
favorable effect. The low discount
rates abroad leave no profit on the
operation. Large receipts of gold from
che Klondike are fast becoming avil-
able for the reserves OF New York
banks and the shipment of 81, SOC, 900
from Australia will shortly be added.
Offerings of government bonds for ex-
change into the new % have shown
an increase of late, and the payment
Of premiums on these Offsets the de-
mands of the sub-treasury on the
banks. These conditions quiets appre-
hension over the future of the money
market. The market for bonds con-
tinues very dull and the changes were
irregular. Total sales par value ST.
10000. United States SIS coupon and
the IS advanced * in the bid price.
Alctison -..s.... OBSERVATION-DISCLOSURES. 2e3s
Baltimore and OE~o ........... "a
Canadian Pacific ACKNOWLEDGEMENTS. S91x
Canada Southern Observation-Disclosures qN
Chesapeake and Ohio .. aeE
Chicago Great Western IL
Chicago, Burlington and Quincy 1854
Chicag3 an dEastedn Illinois. ...... IS
Chicago and Northwestern 159x
Delaware and Hudson e
DelaNare. Lackawanna and Western 176 :
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