Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-04-09
Finance and TRADE.

NEW YORK, April 7.--Commercial
Advertisers London financial cable
gram:
Business was rather quiet In the max
kets here to-day. They opened dull on
the war news, but quickly recovered
and the closing was fairly firm. Con-
soils were 1915 and the war loan fin
ished at 1916 premium after touch
ing LIS. Americans were distinctly
good, hardening throughout and prices
were well over parity. They closed at
the best. There was considerable Ger
man buying. Chesapeake & Ohio and
Union Pacific were features. Copper
shares started weak but rallied later.
Tintos were 59A@59X. Anacondas
were 10h@10%. Call money was in
good supply but fixtures were harder
and bills were rather firmer. A moder-
ate supply was offered
A new combination of cotton and
wool dyers is announced, amalgamat-
ing forty-six businesses with share
capital of 100000 and e750,000 de-
bentures.
The Board of Trade returns for
March show imports increased 80 and
exports increased 138 There was a
decrease in American grain shipments.
Cotton imports increased in quantity
26l, 900 hundred weights and in value
a1.6SO,OO0.
NEW YORK, April 7.-Stocks-The
speculative enthusiasm for an advance
in prices of securities received a de-
c1ded shock in the showing made by
the clearing house banks in their week.
~ statement to-day. The buying de-
mand fell away and stocks came upon
the market at declining prices. The
most important part of the earlier
gains were wiped out and the market
closed unsettled and irregular, prices
moving in contrary directions in diff
ferent parts of the list and net changes
being much mixed. The short session
thus ended began auspiciously enough
under the influence of renewed buying
orders from abroad, which were said
to have their source in Holland. Bull
pools resumed their operations in va
rious stocks and the continued strength
IN Sugar gave tone to the industrial
list. Penna., Baltimore and Ohio, pfd,
Missouri Pacific and Chesapeake and
Ohio were conspicuous examples of
strength. The list promptly gave way
upon the appearance of the bank
statement on the tape. Preliminary
estimates of the gain in cash had plec-
ed it from four million to six million
dollars. Operations with the sub-treas-
ury alone furnished an increase of
100000 to the banks. Wall street
Is in the dark as to what drain on the
banks resources has so far Offset this
advantage as to bring the cash in
crease down to $1,738 400. 1t was al
so expected that the continued liquida-
ton of loans for account of holders
of government bonds who have been
selling them to realize on the advance
in prices would offset the expansion of
loans on account Of stock market trans
actions to large extent. The large
realizing of speculative profits in the
stock market was indicative also of
paying Off of loans to some extent.
The street was wholly unprepared for
a large increase in loans which show
ed the enormous expansion of $12,9 45,-
800. This served to swell the reserve
requirements to the extent Of $685.
$50 and the cash increase fell short of
this by $1,931, $50, which therefore
measured the shrinkage on the sur
plus The inference is clear and I'M
mistakable that the Entertainments
made by speculative demand upon the
loanable resources of the banks have
been outrunning the increase from
other sources. A check to speculative
activity is indicated.
Reports of railroad net earnings for
February and of gross earnings for
March shows them to be beyond all
precedent in spite of the very high
level for comparison with old As and
IS q; new is u and the IS II per
cent in the bid price.
Atcnlson ....:... .,................;.... z!2s
Baltimore and Ohio NEUTRALITY-SUSPICIOUS.. s4A
Canadian Pacific NEUTRALITY-SUSPICIOUS.. 81
Chesapeake and Ohio. 32a
Chicago. Burlington and Quincy ..... .1a
Chicago and Northwestern. ............164
Delaware and Hudson.
Delaware, Lackawanna and Western. .1S0&
Erie ....... ...................... LIS
Do first preferred ..................... 4l3s
Great Northern preferred .............. 1874
Illinois Central Observation-Disclosures. .116A
Lake Erie and Western. ................ 1874
Do preferred .........................9 SO
Louisville and Nashville ............... SSas
NORTHUMBERLAND Street Railway. =
New Jersey Central .................119 &
New York Central ......................13 1881