Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-01-12
bar silver 0oNc.
Mexican dollars 4715c.
Government bonds weak.

State bonds inactive.
Railroad bonds firm.
To-day's stock market was charac-
terized by considerable speculative &C
tivity on the part of the bear con-
tingent. The raid, however, was re-
stricted to a small number of stocks,
all of them in the list of what are
called ~specialties, including the New
York City specialties and the older
high priced industrials. There was
positive Generalization in these &C
tive stocks, in contrast to the fairly
firm undertone OF the general list and
especially the railroads. The occasion
of the attack on the industrials was Of
course yesterdays u%tterances by the
President of the American Sugar Re-
fining Company. The friends of other
stocks in the industrial list made
strenuous efforts to differentiate their
movement from that Of sugar ard
marked them up briskly at the ope1-
ing in the face of the violent break
in the price of the stock named, but
the bears met this manoeuvre with
selling in such volume with such con-
fidence that one after another of the
specialties crumbled in price and fell
through a storm of dislodged stop loss
orders.
Even the railroad list was affected
at last and the earlier gains in that
department were generally wiped out.
The only present railroad stock in
which the net declines reached a point
were Baltimore & Ohio, Burlington,
Missouri Pacific, Pennsylvania and
Delaware & Hudson. Lackawana de-
clined two points. The rally before
the close reduced all net declines in
the railroads to a fractional limit and
restored fractional gains in some cas-
es. The course of sugar was extremely
erratic and feverish all day. At the
low level it was over 8 points below
last night and 2M below the low level
in the December panic. It's net loss
is 6.
All of the New York traction and
lighting shares were severe sufferers,
Metropolitan showing an extreme de-
cline Oh 91s; Brooklyn Transit 6 and
Third Avenue 6h. The gas stocks,
Manhattan. Peoples Gas, Tobacco,
Federal Steel. Sugar preferred and
Tennessee Coal were off from 8 to 412.
The borrowing demand for sugar sent
it to a premium in the loan crowd be-
fore the close. A large preponderance
of the total dealings was made up by
this group Of specialties. At no level
OF prices was there any activity in rail
road stocks. The strength in foreign
markets on the reduction in the official
discount rates of the Bank of England
and the Bank of France was reflected
to this market and foreign arbitrage
brokers were good buyers until prices
rose above parity. Commission houses
continued practically active and there
was no disposition to speculate in rail-
roads. The reaction in prices was
sympathetic. The London buying was
in sufficient volume to cause notable
heaviness in the sterling exchange
market, where the demand for bills
was very light. The New York banks
are receiving large remittances from
the interior as we'll as from the sub
treasury and rates on all classes of
loans were notably easier.
The bond market was dull but held
firm throughout. Total sales par value
81, 205, 900. United States old As coupon
declined n, IS registered "a and old is
registered II in the bid price.
~ IIG@