Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-02-27
Silver certificates 59%.
Bar silver 59%c.
Mexican dollars 47%c.
Government bonds buoyant.
State bonds inactive.
Railroad bonds irregular.


Stocks-The most notable feature OF
to-day's feverish and excited stock
market was the fact that the railroad
department apparently succeeded in
breaking away from the influence OF
the industrials and specialties and in
differentiating the undeniable elements
of strength in that department from
the decentralization and weakness in
the other. The railroads succummb-
ed in the early dealings to the sympa-
thetic influence of the violent declines
amongst the industrials but during the
day confident demand sprang up for
n number of railroad stocks which lift
ed the whole level of that department
materially above Saturdays close. So
far as the news of the day went, it
shed little light on the extreme weak
ness of anumber of industrials. The
movement had all the appearance OF
sort of duel between powerful contend
ing interests and there are circum-
stances tending to confirm this expla-
nation of the movement. report
finds credence that the interests long
of Third Avenue stock are thrifty
availing themselves Of the unsettling
influence of the weakness in the stock
to make a bear turn in other stocks.
That bitter animosities and rivalries
are involved are involved is also cur
rent reminder in the street, the same
potential entities coming into play as
during the panic last December. The
battle ragged most fiercely about the
stocks of the New York public utilities
for the Centralized control of which
long standing contest has been wag-
ed The notorious finacial difficulties
of trade have played a continuing part
to-day and there was added to this ru-
mors that the companies would be Sc
verely dealt with in the approaching
application of the new State franchise
taxation law. The extreme declines in
the New York Traction and Gas stocks
ron from to points, the latter in
Third Avenue. Sugar was another
storm center the furious speculation
in that stock Ringing upon the doubts
regarding the next quarterly dividend,
action upon which is imminent. A re-
duction in the existing rate is taken
for granted, but opinion differs as to.
the amount Of the reduction, extend
ing all the way to total suspension.
Sugars total fall was 73sc and it clos
ed practically at the lowest. Tennes-
see Coal and the Tobacco stocks also
showed notable weakness. Except in
Sugar, there were violent rallies from
time to time, rejecting the demand
from the bears to cover shorts. The
strength of the railroad stocks was
based upon the substantial ground of
increased earrings. A large number of
returns were made during the day, all
showing very striking gains over the
corresponding period of last year. For
the last week in February the most
notable examples were Norfolk &
Western, Ontario & Western, Louisville
& Nashville and Chicago, Indianapo-
lis & Louisville. For January hand
some showing of net earnings was
made by Wabash, Chicago & Eastern
Illinois and Hooking Valley. Satur-
days weak bank statement had some
continued effect in the early dealings
but there is an impression held in spec
ulative circles that some part of the
recent large extension of loans is de-
signed for future use in the stock mar
ket. Sterling exchange was weak on
increasing offerings of cotton bills.
The actual rate for demand sterling de-
clined as and for long sterling u per
cent.
The bond market was rather dull
and irregular Total sales par value
$1,380,00
Government bonds were buoyant I'M
der the influence of the refunding bill
now in conference. United States new
as and old As coupon advanced ~ and
do registered, the threes and 5s point
in the bid price.
Quotations closed bid: