Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-03-05

worked some violent recoverles IN
the industrial and speciality depart
ments OF the market. This influence
was first evident in Third avenue
which bounded up points on the De-
lief that financial assistance had been
secured to rehabilitate the property.
The short account in Sugar again
gave signs of being over EXTENDED
and, after falling to near 95 the quota
ton touched 101A in the late DEAL
ings. A decline in the price OF raw
sugar thus widening the gap between
the cost of raw and refined sugars,
was an influence. The movement IN
these stocks had a sympathetic in
f1uence upon the industrials and there
were general recoveries from the OPP
ening weakness during the hrst nour.
A period of dullness and heavlness
succeeded while waiting for the bank
statement and upon the publication OF
that statement, the market displayed
increasing animation and strength
until the close, which was generally at
the top and at net gains in nearly all
stocks.
Part of the buying was on the prin-
ciple that when bad news is out
rally is due. But the return was, IN
fact, not so weak as had been feared.
Receipts of cash from the interior
were larger than anticipated and the
loss in cash correspondingly less.
Another loan expansion so formidable
as 1881 900 was apparently viewed
with complaceney as the feeling has
grown up in Wall street that much OF
nciOn will find
quick return to the money market.
So long as call loans are made at to
2h per cent. there will be no acute
alarm over money market prospects.
The stock market this week has been
torn by the conflicting influences OF
violent contrary movements in differ
ent groups of stocks, affected by indi-
yidual causes. There have been sharp
losses in the department. OF indus
trials and so-called specialties, includ-
ing the stocks of corporations oper-.
ating the New York public utilities
and there have been notable gains in
some railrLad stocks, based on large
earnings reported. The strength of
the railroads has at times checked the
fall in the industrials and at other
times the sudden breaks in the indus
trials have unsettled the whole market
and have been a drag on the move
nent in the railroads. Neither the
gains on the one hand nor the losses
on the other have been fully main
tanned and it is impossible to deter
mine the dominant tendency of the
market or to decide how far the
apathy of the public demand for
stocks would be changed if the mar
ket were relieved from the special
disturbing influences. The principal
disturbing element has been Third av-
enue, which has sold over 80 points
lower than last Saturdays closing
price and very nearly 200 points lower
than the high price of the correspond
ing period of last year. Such devel-
opment in stock long closely held
and regarded as a safe investment Sc
curity has an inevitable effect on 9TH
er securities, however peculiar to it
self may be the circumstances which
affected it. There were old rivalries
and animosities between bold and
powerful speculative interests which
the miSfortuneS of the stock afforded
an opportunity to crafty. The long
standing conflict for centralized con-
troll of the New York public utilities
was also involved, not only in the
movements of that group, but,
through sympathetic connections, Of
other stocks. There has been furious
speculation in the certificates of the
sugar. refining company, based on the
ambiguous utterances of the president
OF the company that he should oppose
the payment of dividends unless the
company earned them. This riddle
will not be solved for the public until
after the directors have acted on the
dividend next Wednesday, when spec
ulators will be able to foot up their
gains, or their losses. The Iron and
Steel stocks have also been a disturb
Ing influence, without any very clear
explanation being given of the larger
selling OF them. One current, but not
very plausible explanation is that the
earnings of these companies are prov
Ing so large that effective competition
is invited and is being organized
The reports of authorities in the trade,
showing large consumers still hating
over the making of future contracts
for material, obviously with the ex-
pectation that prices will go lower,
seems a more rational explanation.
The market for railroad bonds has
shown decreased activity during the
week and the price movement has
been irregular. U. S. new As advanc,
ed IA and the IS, old As and 5s IL
per cent. in the bid price.
AI Ie 49,; ..........-............ 223s
~ pasaeaIea ,,.::..... .................. 651a
oaItliitoIe anu Ohlo ACKNOWLEDGEMENTS. 6ls4
SSllauian acme ACKNOWLEDGEMENT. SS44
SSnntesdpeake ana OhFo .;.................. 2S12
Shiicaso Great western; ........... 1874
Chicago, Burlington and Quincy 49, 1881
Chicago and Eastern Illinois .. 95la
Chicago and Northwestern. las
Delaware and Hudson. ........I55
Delaware, Lackawanna and Western .lS0Jk
Ere $500; ...;.-................ 12l2
70 Isl preferred ...:....... ........... 81