Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-12-21


Except that some OF the stocks which
are rushed upwards, as well as some
of those which yielded under the sell
ing pressure to realize profits were
different from those on previous
days, the market was the same. Profit
taking was palpably on an enormous
scale. and was not without effect on
prices, but the inroads made were
not serious and the offerings were
easily absorbed. While this partial
weakness in the market did not in
the least impair the eager rush to
buy stocks which showed any dispo-
sition to advance. To-day ended with
the market more generally reaction
airy than for some time past, under
food of selling to take profits in
Northern Pacific and other stocks
which had shown the most aggressive
strength during the day. The rush 70
sell Northern Pacific was caused by
the publication in news bureau bul-
letin of a statement that plan had
been perfected for the voluntary re-
tirement of preferred stock in Janu-
airy by exchanging for general lien
per cent. bonds, 1870 per cent of the
bonds being given for the preferred
stock. This statement was not vouch-
ed for as by official authority, but 1t
caused a sudden drop in Northern
Pacific to Sly, the price having touch
ed S51a or So points over last night.
This movement of Northern Pacific
was the main feature OF the market
but there were various other import
mt itc xrrl,i a1, cnQr1n6 70 have
relation to it, including the Wiscon-
sin Central stocks. Pere Marquette
stocks, the Fries and st. Paul The
street was full of rumors of plans for
combinations looking to new trans
Continental line and to the consollda-
ton of interests in northwestern ter
ritory. The gains in the group men
toned extended all the way from two
points up to GA in Northern PACING.
There wao besides a vigorous upward
movement in Missouri Pacific, which
carried it AZ points over last night
and caused a revival Of many cid ru-
mCrs of plans for extensive consoilda-
ton among the Gould southwestern
railroad companies. A rise in Union
Pacific to rs seemed to be due to an
value between that stock and North
crn Pacific. Illinois Central rose buoy
antly in the morning, 3A per cent On
a belated demand to secure the rights
of subscription at par to the proposed
new stock issue, which are limited to
stockholders of record to-day.
Sugar was the one feature among
the spccialties, with a rise of 33s,
which was attributed to a turn against
the shorts by calling in Of long
stock. A rise of 4 in General Electric
and d full recovery of yesterday 6 VI
olent decline in New York Air Brake
were Oh very light dealings and at
traCted very little attention. Quite
number CT obscure low priced stocks
were awakened from long dormant
state and moved upward from l to
POINTS with no other apparent reason
than to adjust their prices to the
higher level recently attained by the
general list. The market continued
very broad, but the re3ctiOnary tenden-
cy was quite marked through a large
portion of the list including the Van
derbilt group The directors meetings
for the various companies III this group
to-day failed to bring any ccntirma-
ton of the recently varied rumors of
stock re-adjustments and retirements,
presenting conclusively to the manipu
lative character of these rumOrs. But
this seemed to have very little effect
on the credence given to to-day's eX-
tensive crop of new rumors. he main
tenance of the Bank of England's dis
count rate at 4 per cent. had bracing
effect on the market and the continued
ease of money here failed to offer any
character to the active speculation.
The market for railroad bonds con-
tinued active and strong, without
important exception. otal sales par
value, $4,915,000.
U. s. IS, old As and IS advanced Il
and new As declined 4 per cent. on the
last call.
oIc