Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-05-22

Stocks-The stock market was soft
from the outset to-day and yielded
readily to the assault of the bears.
There was practically no buying de-
mand of any importance pereceptible
and prices lost ground pretty steadily
all day, even on light volume of trad
ing. Late in the afternoon Third Ave-
nue. made a sudden advance OF six
points and caused some uneasiness
amongst the room shorts, who bought
moderately to cover. But the rally was
insignificant, outside of Metropolitan,
Brooklyn Transit, Sugar and Tobacco.
The sudden upward movement in Third
Avenue was unexplained, except by last
weeks move to cesure the discharge of
the receiver and the progress being
made in the betterment of the system.
The long outstanding short interest in
the stock was aimed at by the advance.
The heaviness of the market during
the day reflected the keen disappoint-
ment over the failure of last weeks en-
couraging developments to attract any
outside demand. 1t was soon evident
that London especially had been looked
to hopefully to take up American stocks
and the early morning news from that
quarter showing declines for the inter-
national stocks was a disappointment.
The sales for London account were not
in large volume, but their sentimental
effect was decisive and soon overcame
the strength in the few specialties
which attempted to make Roadway
against the tide. 1t was clear that
Spectators who bought stocks late last
week counted upon London taking them
Off their hands after that market had
subsidized from it's hysterical outburst
over the relief of Mafeking But Lon
don shared with the continental
bourses mood of depression. Inter
national houses in Wall street attri-
buted this disappointment over the de-
NAL of the report that President Kru-
ger had made humble advances for
peace and Berlin advices reported fears
of an outbreak between Russia and
Japan. In the New York market, the
grangers and Pacifics were the first to
show acute signs of weakness, but ulti-
mately practically all of the active rail-
road stocks fell from one to two points
below Saturdays close. Sugar rose at
the opening on the announcement of
the advances in the price of refined
sugar, but it was sold in such volume
and in such confidence that it fell into
weakness with the rest of the market.
The weakness in the wheat and cotton
markets was not without effect in Wall
street. In the money market the sup
ply of mercantile paper is reported to
be decreasing, owing to the setback to
trade in various lines The growing
ease of money is attributed to the same
cause. Bear operators profess uneasi-
ness over the likelihood that freight
rates will not hold in face of the de-
efeasing traffic of railroads. The grain
traffic of the western lines has fallen
to the lowest of the year and is still
decidedly below last years level West
bound merchandise traffic is reported
to be sufficient to maintain earnings
as vet above last year, but current earn
ings, in spite of the higher rates in
force, are only slightly above last year.
Bonds were much better sustained
relatively than stocks, though there
We're weak spots in the list. The ac-
emulation of idle funds seeking in
vestment is making some slight i'm
preston on the bond market. Total
sales par value $2,060,000. United
States refunding Is, when issued, de-
clined II and the new As, old As and IS
II in the bid price