Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-11-29


Railroad bonds irregular.
To-days stock market was the duilest
since the Monday preceding the election.
There were no dealings on any consid-
cradle scale and the movement of prices
was sluggish and irregular and not i'm
portant. The market narrowed very con-
sderably also, the number of different
stocks dealt in being smaller than for
many days past. 1t is not improbable
that Tomorrow holiday prompted the
curtailment of speculative ventures. The
dealings were left very largely in the
hands of room traders and the larger in
terests and the public were apparently
out OF the market entirely. There was no
great pressure of liquidatio but when
any considerable volume of stocks was
offered there was not sufficient demand
TO sustain the price. On the other hand
even smaller demand was sufficient to
effect a considerable advance in price,
as the selling orders in the market were
also on a very small scale The market
was very generally heavy in the early
ence of weakness in the London market.
The disclosure through yesterdays Lon
don settlement of d ing account in
Americans is interpreted as weakening
the technical position of this market and
the growing ughtness of money in Lon
don gives rise to the apprehension that
New York may have to absorb consider
able speculative liquidation from that
center. In fact, the selling for London
account to-day was estimated as high as
$4,000 shares on balance. Both call money
and discounts in London are above the
bank rate. Under ordinary circum-
stances this would lead to the expecta-
ton of an advance in the bankrate to-
morrow, but the scarcity of money is
due to the preparation for the exchequer
bond issue on Friday. WhAl this is met
there Is likely to be a reflux of govern
ment funds in the money market. which
would endanger the control of the mar
ket by the Bank of England.
The action of the governors tomorrow
is therefore problematical. Our own
money market continues unruffled call
loans falling away in spite of the con-
tinued absorption of funds on sub-treas-
ury operations and the postponement of
the return of the volume of funds from
the interior: The recent daily average
transfer of 100000 to 100000 to New Or
leans was supplemented by the transfer
of 100000 to Chicago through the sub
treasury to-day. If the activity of in
terror business is to NAVE new demands
on New York for currency lit may upset
calculations over the future of the money
market. This may have prompted some
OF the Discrimination to deal in stocks.
The early heaVinesS of the market gave
way quite generally to a recovery in the
late dealings after London had ceased
selling. Probably covering by room
shorts was factor in this movement.
The gains were not all retained to the
close, which was moderately active and
irregular. A number of October state
ments of net earnings of railroad COM
panies were published during the day,
which were favorable with the exception
OF the Reading Company The net earn
ings of this company for October were
s1,2320s6 less than tor October of last
year as a result of the miners strike.
This did not prevent the stock from ris-
ing over yesterday, but 1t became, heavy
later in the day. Amalgamated Copper
continued to show weakness. supposed
10 be on account of apprehension of UNI
favorable legislation in Montana The
new Chicago & Alton stocks were largely
bought at an advance of 2sk and Ia per
cent for the common and preferred stock
respectively. The Rubber stocks were
notably weak, but recovered part of their
losses.
The bond market was quite active and
and yielded in spots. Total sales, par
value, S4035. 600.
L. S. bonds were all unchanged on last
call.