Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-11-21

Prime mercantile paper 4@5 per cent. ;,
Sterling exchange sfeader with actual
business in bankers bills at 4Si3s for de-
4s2 and 1851; commercial bills, 4S0@lA.
Silver certificates, 64AG6oc.
Bar silver. G4c.
Mexican dollars, 50Nc
Government bonds irregular.
L S. refunding Is registered. .1o4&
DO coupons ....-....................-. 1Uf34
Z. S. IS registered. ....................10 1882
L S. new As registered. .137
Do coupons ACKNOWLEDGEMENTS. 1888
L: S. old As registered. ................1 l5ls
DO coupons .........-.-..........- .1 1io,l
Do coupons ........................... .n59s
State bonds inactive.
Railroad bonds easier.
STOCKS-lt is not often that move
ment in the stock market attains the vol
ume and price movement of that OF to-
day in the Northern Pacific stocks. Oc-
casionally in the past there have been
sales in a single day of an imposing ag-
gregate of some of the largely capitalized
western railroad systems, of which the
floating supply in the market is always
much larger than that of the more firmly
established railroad properties in the ear
ier settled portions of the country, but
the very fact of the enormous floating
supply of these stocks hampers the price
movement To-day's sales of Northern
Pacific foot up according to the customary
approximate calculations, POI $50 shares for
the common stock and 1860 shares tor the
preferred stocks, or a total of III 400
shares. The common stock rose an ex-
IRENE GA per cent and the preferred 61s
per cent Various causes doubtless serve
10 longest the speculation in these stocks.
For one reason there was but languld
interest in the general stock market and
the eager army OF operators and specu-
lators who are watching for available
openings failed to find any until the move
n.ent in Northern Pacific developed. The
volume and character of the dealings in
the stocks, however, precluded the ldea
OF purely speculative operation. No au-
thentic news was disclosed to explain the
movement, such rumors were heard be-
ing prompted rather by the effort to ex-
plain by guess work. II was alleged that
1t had been determined to retire the pre-
ferred stock at par as the company has
the right to do under the terms of its is
sue. The fayorlte theory, however, was
that the buying OF Northern Pacific repre-
sents a process of TRANSMISSION of interests
between the different continental
railroad lines or, more Immediately the
Northern-and Northwestern routes. Such
a process is on the lines of what has al
ready been accomplished on a large scale
in the eastern trunk line field and is in
accordance with the best accepted theory
for solution of competitive problems in
railroading. That some important deyel-
Dpment Will be forthcoming is indubitable
by the test of the tape. The movement in
Northern Pacific HAD dominant influence
ON the whole market, and pulled II up eff
tectually from the reactionary tendency
part of the day This was due to the con-
t!nued heavy profit taking and to very
large selling for London account, after
light buying movement for that account
In the early dealings 1t is believed that
very large shipments of stocks, and es-
pecially of Northern Pacific, which have
been sold for foreign account since the
election, are now on the ocean. This
would create a temporary shortage IN
the supply available for borrowing pur-
poses ana would add materially to the
" n = q
profit taking continued to a degree, even
after the general tendency had become
strongly upward, and some of the promi-
nent stocks practically failed to respond at
all The movement in the iron and steel
stocks was exceedingly Irregular and
number of other specialties which have
had recent notable advances, hung back
to-day. AS consequence, the days net
changes were exceedingly uneven, and not
few declines were mixed in with the
notable gains. The conspicuously strong
stocks. besides the Northern Pacifics,
were the Union Pacifics, Great Northern
preferred, the Atchisons, Missouri Pacific,
the Denver & Rio Grande, and the B; &
O's Among the industrials and special
ties the Steel & Wire stocks, Federal
Steel, the Tobaccos, Peoples Gas, Sugar,
North American and International Power
were conspicuous. After sharp reac-
ton on profit taking the Northern Pacifcs
rallied, carrying the whole market with
them, and the closing was very animated
and buoyant at about the top level Profit
taking was in evidence in the bond market
and prices were generally lower. Total
sales par value, IS, SIS, 600.
L. S. SIS coupons declined II per cent and
the new As Is. The old As advanced a
i. per cent on the last call.
Quotations closed bid:
Atchison ..... $S3s Mobile & Ohio. 40
Do pref ........ S39s NJ, K. & t.. IFS
Bait. & Ohio..... S5la DO pref ....... IS
Can. Pacific -. $3.50 n. Jersey Cent 144
Can. South ...... $50 n. York Cent 1395s
Ches. 4 Ohio. 81 Norf & West. 1875
Chic. G. W.. AZ Do pref ....... 81
Chic. Bur & Q. 1875 North. Pacific 727s
Chic, l. & L.. % DO pref ....... $50
do pref ........ 81 Ont & Vest. 25ss
Chic. & z. L.. :Sk Or. Ry. & Nav. a.
Chic. * Northw .167 Do pref 80. 76
G., r. /. & Pills. Pennsylvania 1435s
C.,C.,C. q st. l.. 6Gl2 p. &C. x st. L. Sc
Col. Southern. Reading .... l92t
Do lst pref. 4S}A Do LIST pref. 62is
Del. q Hudson. .1l6ll Do I'd pref. =: 81
Del, l.. & W....1S2 Rio G. West 66
d. & r. Co.. 23B Do pref ....... On
Do pref ........ 7Iss st. L. & s. F.. 1914
Erie ..........~... IA Do 1st pref. IS
Do LIST pref. 1925 Do I'd pref. Is
CT North. pref, .1S1lA ST l., s. W.. IAN
Hooking Coal. II Do pref 49,. 35lS
Hooking Val, S93@ st Paul ........13l7s
Iowa Cent........ 20%z st. p. & Om.. .i20 =
Do pref ........ q South. Pacific. A.
j. f. & w.. 37S4 South Ry........ l4lk
Do pref ....... .10li2 Do pref ..... 63ia
Lake Shore. -. 21ol4l Tex. < Pacific. 1919
Louis. & Nash. 81 Third Ave....lll
Manhattan L.. 1llA Union Pacific. y
Met. St Ry; .....17s Do pref $50. S27s
Mex. Central -. 1914 Wabash ..... s
MINI. d ST. L.. 65A DO pref s...... 2f3s
Do pref $3.50. .l62 w. 6; L. E...... l03s
Missouri Pacific. CO.'S Do I'd pref 304
WIS. Central. 12at