Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-03-21
silver COO. Mexican dollars 47A.

H.. D.. OS COUPONS.
Y. s. new As registered ........"...I54A4
U. S. new As coupon
U. s. old As registered .........".".I!s
u. s. old As coupon
L. S. 5s registered.
u. 5. 5s coupons.
Government bonds weak.
State bonds steady.
Railroad bonds irregular.
Stocks-There was a brilliant display
of speculative pyrotechnics in the STOCK
market to-day, which was interesting
and informing as a spectacle but which
must have been attended with very IN
pleasant circumstances for some one.
The explosive outbreak took place in
The New York traction group, and was
precipitated by the official announce
ment published this morning that the
Metropolitan Street Railway had secur-
ed a controlling interest in the Third
Avenue railroad. This at once confirm
ed the fears of the shorts, which have
been quite acutely manifested for sew
eral days, tmah there was not a large
enough supply of Third Avenue stock
on the market to enable them to cover
their untitled contracts for delivery. In
other words, the stock was cocnered.
The result, briefly stated, was a jump of
II points in the price on top of yester-
days rise Of nearly 10 points. The vio-
lent rise in the stock brought out large
blocks from long holders, which caused
many ~relapses and made wide and
feverish fluctuations all day. But
when tie shorts attempted to supply
their needs the price always mounted
buoyantly upward again. The New
York public utilities have been the
favorite field of operation by the bears
for several days past and the sympa-
thetic strength impaired to the group
by the Metropolitan-Third Avenue COM
bination drove the shorts to owe with
a rush. The extreme advances in the
group were: Metropolitan liz; Brook
lyn Transit 7B; Consolidated Gas 7;
Brooklyn Union 5, and Manhattan Az.
The possibilities of economy of opera
ton and elimination of destructive
rivalries as a result of the combinatio
undoubtedly improves the status of the
Metropolitan and Third Avenue prop
day was almost wholly due to specula-
tive ~exigencies. Third Avenue stock
commanded as high as 4 per cent. prem
ium for use on loans. There was
furious manipulation in the stock all
day, as was evidenced by the simultane-
Gus sales ON regular transactions and
on sellers sixty day contracts at nearly
ten points apart, the regular sale COM
manding the high price. Other stocks
the short interest has been largely re-
f1ected the urgent demand from the
shorts, notably Sugar, American and
Continental Tobacco, Peoples Gas and
Western Union, which Ia to 3A. Spec
ulation in the railroad list was rather
dull during the period of feverish ex-
citement in the s~pecialties, but later
III tIC udy oil dStlfS anu tiSOlOu6 uC-
mand sprung up for Baltimore & Ohio,
the Pacifics, some of the grangers,
Wheeling & Lake Erie second preferred
and a number of less important stocks.
Baltimore & Ohio was carried up Az.
The highest prices were not maintained
in any case, the violently speculative
specialties showing the sharpest reac-
tons, but the closing generally was
rather easy below the best, and the net
changes, though mostly gains, were
very ragged as to uniformity. The
iron and steel stocks were rather
heavy, notably National Steel and Ten
nessee Coal. The money market show
ed evidences of relaxation. The con-
tinued decline in price of government
bonds indicates a process of liquidation
which suggests that the recent level of
prices prompted the changing of plans
for taking out bank note circulation
and the selling out of holdings of
bonds.
The railroad bond market continued
active, but price changes were rather
irregular. Total sales par value ST.
5000.
United States Is ~refunding (when is
sued), the IS, old As. new As and 5s de-
clined v in the bid price.
Atchison ....:. ................. 231s
DO preferred 6SA
Baltimore and Ohio ......... 69%
Canadian Pacific ...... ........ 94jI
Chesapeake and Ohio .................. 2S1h
Chicago Great Western .............. 1879
chicago, Burlington and Quincy .127A