Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-12-06

ST. Louis and San Fran. general os. l2sss
ST.. F.. chi. and Pacific lists. .nsss
Southern Pacific As ..................... s21z
Southern Railway IS. :..;....:.........ll3
Standard Rope and Irvine 6s..-..... 20 ,
| Texas and Pacific 1sts.. 31s
90 2nds .-...................-n
| Union Pacific As ......................-.I Vs
| dc 2ndS fv914
| West Shore Observation-Disclosures. us
| Wisconsin Central Ists................ S6A
| Virginia Centuries ..................... 92s4
State bonds inactive.
| Railroad bonds Irregular.
Stocks-To-day's market somewhat
reversed the speculative position of
yesterday. The early part of the day
showed a. continuance OF the reac-
tionary tendency. London took its cue
from the depression here yesterday,
and sold the Americans, offerings from
that source amounting to some 10000
shares. The professional traders also
| continued bearish and sold stocks
| short, but it became obvious during the
| course Of the day that there was no
urgent pressure to liquidate. The de-
| cline in prices brought no large offer
! ings, and the bears were disinclined
| on this account to pursue their cam
| paign. Consequently they bought to
| cover their contracts, and turned the
market upwards. The recovery was
| ha1n Inv OIL in
but whether the upward course of
prices late in the day was due general
| ly to any other cause than the taking
! of bear profits on the short sales
which were invited by yesterdays
weakness, remains to be seen. The de-
velopments in the money market which
| is the true index of speculation at pres
emit, continue against the presumption
for active speculation. Call money
rates went to five per cent again to-
day, and the movement of currency to
the interior continues undated. To-
day 100000 was transferred through
the sub-treasury to Chicago and S275,-
900 to New Orleans.
This rate of depletion is far too
large to permit of any extensive credit
expansion by the New York financial
| institutions, and would not require
| long continuance to force sharp con-
traction of loans. 1t will be remember
ed that in the period of depression pre-
ccding the election, bankers were prac-
! tically unanimous in the opinion that
resources must be conserved for the
enlarged requirements of business af-
/ ter election. The outpouring of credits
| large scale as to overwhelm all
| demands and force an easy money rate,
| in spite OF the furious speculation
which ragged for several weeks. So,
after enormous inroads have been
made by such speculative commit
ments, as well as by investment in
securities upon available credits, the
expected demand for nvney is mani
Testing itself
| The movement of currency to the in
terror, which has continued on a large
scale now for the pest part Of a week
and the very large volume OF interior
| bank clearings are a plain indication
, of the active need for money through
| the country. An active money market
| is generally expected between now and
the first of the year. after which the
! January disbursements are expected to
make for easier money. A loan contrac-
| ton by New York banks seems, there
the stock market will be measured by
| the financial resources of those holding
stocks A period of quietude insspec-
ulation and a gradual liquidation Of
weak accounts is an important safe
guard against such a situation. The
strong points in to-days market were
amongst the low priced minor stocks,
! he Fries, Peoria & Western, the Wa
! bash stocks, the st. Joe and Grand
| Island stocks and others of that class
| being conspicuous. Atchison preferred
! and Missouri Pacific were also strong
| and Brooklyn Transit and the steel
| stocks were in demand. Sugar was
| very feveish, and after rallying from
early weakness to about point over
last night it lost the gain in a few
minutes trading. The Amalgamated
| Copper had an extreme decline of Az
before showing any resistance, but
they strongly recovered over half the
| last.
| Business was better sustained in
| bonds than in stocks, and some i'm
portant gains were shown, but there
were also reactions in other points.
Total sales par value s4,O25,000.
U. S. refunding Is declined Il and
the IS and As and IS Il per cent on
| the last call
Atchison ....... 3S14l Mobile & Ohio 40lz
| do pref .....-.. 81 M. X. & t.. 10
Bait. & Ohio. 1925 do pref $3.50. 375s
DO pref ..,.... &ssl \. Jers. Cent. .146l2
! Can. Pacific -. IS n. Y. Cent 49,. 1925
Can. South 49,. 5SA lNorf. & West. as
| Ches. & Ohio. 80. BIZ do pref 800. 81
Chi. Ct. West. 141s North Pacific. 7O&
| Chi, B. & O.. 1855 do pref -..... S1ss