Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-10-24
Mexican dollars sic.
S. refunding Is (when issued reg. .loI
Government bonds steady.
State bonds weak.
n L.. Il. i,....ac La 4.

Stale bonds weak.
Railroad bonds irregular.
Stocks-The warning contained III
Yesterdays furry in the call money
rate to per cent. was taken to heart
by the speculative element to-day, and
the rather Incorporate buying which
has flooded the market since the latter
part of last week was materially cur
tailed There was great deal of bus
mess done in the first hour, but the
selling 10 realize clearly outweighed
the buying demand, in spite of some
sharp manipulative advances in few
specialties, and the average level OF
prices went below that of last night.
The selling was not at all precipitate
and showed a tendency to decrease as
prices receded to the lower level, but
when efforts were made to bid UP prices
again it was found that selling orders
were waiting at the higher level in
sufficient volume for force prices back
again. Later in the day much her
aided upward movement in Northern
Pacific came into notice. For several
days past rumors have been heard OF
bull pool in this stock based on large
short interest known to exist in it, and
the reduced floating supply owing to
the recent buying of substantial char
acter which appeared when the quota
ton got below so. The price was 541a
to-day when the advance began, and it
carried the quotation UP through some
very heavy selling without material
setback, to a shade over SO, making
the net gain .25s. Great Northern pre-
ferred was advanced points CORE
latively. 1t was alleged in behalf of
the movement that the impairment in
the earning powers of railroads in the
northwest by the shortage of the spring
wheat crop had been greatly over
stated. The statement Of the Northern
Pacific for the second week in October
shows decrease in gross earnings OF
SIT, 43,, Notwithstanding the additional
mileage compared with last year of
nearly 400 miles. There was notable
disinclination in the rest of the market
to respond to this movement and the
recoveries were quite insignificant.
The fall in the call loan rate to 21a per
cent. in the last half hour was equally
without effect in reawakening specu-
lative interest, and the market closed
irregular at small net changes. The
earlier rates for call loans ruled from
four to five per cent, and 1t is not I'M
likely that the late reaction was due
to the abstinence of the spectators
from further encroachment on money
resources. Banks called loans to the
extent of several million dollars this
morning and the shifting Of loans
which resulted caused quite an active
bidding of money. The events of the
day had the effect of awakening some
fresh uneasiness over the money mar
ket conditions, and these were not al
together allayed by the renewed weak
ness of exchange, especially Paris
cheques. The transfer of currency to
New Orleans through the subtreasury
was also renewed to-day. Much doubt
exists regarding the effectiveness OF
high call loan rates in renewing gold
imports The gold thus far secured
was the result Of securing the open
market supplies all over Europe, with
out arousing the opposition Of the
great central banking institutions,
which would have to be resorted to for
any considerable gold supply. Bor-
rowers Of time money show. disn-
clination to pay as much as five per
CENT WU1le bankers nave counted upon
good market for time loans at per
cent Whether they will be inclined to
import gold under the circumstances
to meet the exigencies of speculation
Is a mooted question.
There was a decided falling off in
business in bonds and prices reacted
at various points. Total sales par
value S1,600.000.
United States bonds were unchanged