Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-05-12
4HtAIUdH UUIIdIo II 70
Government bonds irregular.
State bonds inactive.
Railroad bonds weak,

ItoilllOdu JULIUS WSdh.
Stocks-The stock market succumbed
again to-day to the pressure of liQuida-
ton, which effectually overbore what
ever elements of strength showed in
the early trading, wiped out yester-
days recoveries and carried prices
down in many instances to the lowest
of the week. There was nothing in
the news of the day to account for the
renewed weakness in stocks, beyond
the general supposition that to-mor-
rows bank statement will show fur
Their considerable reduction Of the sur
plus reserves. 1t was very evident ear
ly in the day that the demand from
the outstanding short interests who
had sold precipitately in the break of
Wednesday, had been about satisfied.
No outside demand had been attracted
and the bull pools which had resumed
operations yesterday found the task Of
holding up their favorites a hard one.
They had some assistance from Lon
don, where the market made show
of strength, encouraged by develop
ments in South Africa but the OPEN
ing prices here were about the highest
The considerable gains shown by Mis-
souri, Pacific, Baltimore & Ohio and
National Steel yielded to the selling
two stocks taking their place among
pressure and were wiped out the first
the weakest Of the railroad list. South
ern Railway preferred was another Sc
we're sufferer. The principal examples
of weakness, however, were found
among the specialties and industrials
Sugar and Steel & Wire were weak
from tho nNaninn Ayao y-tco TohoaoA
was under severe pressure all day on
rumors of projected competitor, and
the price shows a loss of nearly seven
points following yesterdays loss of 311s
points. Many of the metal stocks and
the local traction stocks show losses
of from to points. Net losses of a
point or upward are frequent in the
railway list The cash changes of the
banks for the week indicate a further
decline of cash reserves which is es-
timated at about a million dollars, the
losses by gold exports being that far
Offset by the receipts of currency from
the interior and small gain in sub
treasury operations. The process of
foreign loans is supposed to have been
going on during the week, but the
liquidation in the stock market must
have been accompanied by the paying
off of considerable loans. Nevertheless
1T is the general expectation that the
bank statement will show a further
heavy expansion of loans. 1t is re-
ported and credited in Wall street that
the Pennsylvania railroad has placed
loans during the week of from $10,>
1000 to $4,000, 0O0 distributed
among the various Institutions If this
rumor proves correct there must have
been a large increase in the reserve re-
Quirement, to be added TO the actual
decrease in cash as the measure of
decline in the surplus. Rates for mon
ey are not quotably changed in this
market Sterling exchange was firmer
in response to higher discount rates in
London, but no gold was engaged for
export to London. News that the Bank
of England was securing gold from
Russia and the complaint made in Ber>
lin that some gold was also going from
that center to London shows that Lon
don's call on New York for gold may
be deferred.
Prices of bonds gave way during the
day in sympathy with stocks. Total
sales par value 10000
United States new As declined Il and
old Is advanced = in the bid price.
Atchison go. ACKNOWLEDGEMENTS. 2s7s
Do preferred ............ .............. 67S
Baltimore and Ohio ..................... rs
Canadian Pacific OBSERVATION-DISCLOSURES. 9sA
Chesapeake and Ohio ......",.......... 271h
Chicago Great Western. ..........,.... 12&
Chicago, Burlington and Quincy 49,. .123lh
Chicago and Eastern Illinois. .l02
Chicago and Northwestern. .......156
Delaware and Hudson ..................1 13lk
Delaware, Lackawanna and Western. 17Sh
Erie ........ ACKNOWLEDGEMENTS. u
Do first preferred ........ .......... S57k
Great Northern preferred ............1 51lS
Illinois Central 1890. .................1 12Is
Lake Ere, and Western .........,..... q