Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-07-17
Mexican dollars, 61Bc.
Government bonds, strong.
State bonds, inactive.
Railroad bonds, irregular.

Stocks-The depression caused on
foreign stock exchanges by the sinister
reports from China had no effect in
the local market and indeed did not
hurt the American securities in the
foreign markets. Coed advances We're
established in London for Union Pa
cifie and for B. & 0. Before the open
ing British >, international houses
bought freely in this market OF those
in the United States. The total pur-
chases for London account in this
market were estimated at 10000
shares. The movement in Union Pa
cific was the main spring of this mar
ket all day and B. & o. was also an
active feature. The movement in
these stocks was primarily based on
the estimates for the years earnings
now made. A statement of Union Pa
cities earnings having the appearance
of authority, states thatnet results for
the year, exclusive of land sales,
amount altogether to 100000, 600,
which would indicate a balance of
something like 9 per cent for the COM
mon stock. This statement and the
fact that inside this were avowed
buyers of the stock, gave color to the
report that the stock is to be placed
on 4 per cent basis.
The B. & 0. system has yielded for
the year net earnings of $12,3S1 ,749,
from which is to be deducted fixed
charges Of nearly $S000000 and pre-
ferred stock dividends of $4,000 900.
The fate that net earnings Cor this sys-
TEN have been increased over 81 per
cent for the year is due to the heavy
OUTLAWS made by the receivers in the
closing period of their administration
and charged to operating expenses.
last year. This statement, coupled
with the fact of the recent return
from Europe of several Of the direct
ors was the occasion for runlors that
a division was soon to be declared
on the stock. They readily responded
o these rumors and rose at one time
to 3B. Another potent influence in
the market was the copious downfall
of rains in the corn belt. The amount
of speculation which has been based
on supposed damage to the corn crop
was made obvious by the violent break
in the price of that cereal and the rap
i'd advance in the stocks of corn car
rying railroads. This helped Union
Pacific stock which rose to an extreme
27s. Other gains ran from 1 to ~
for the corn grangers, Burlington be-
ing conspicuous. Rock Island was
held back by sympathy with the weak
ness in Brooklyn Transit, which was
a target for the bears all day and
which lost 13s net. Missouri Pacific
broke badly in the late dealings on
disappointment that no action on the
dividend was taken at the meeting of
the directors to-day. The extreme de-
cliune was rs. and coupled with the
weakness in Brooklyn Transit and
the disposition to take profits, react
ions Of about point were caused in
a number of stocks. The closing was
heavy at the reaction. Outside of the
grangers the Pacifics and Trans-con-
tinentals generally the market contin-
ued dull and narrow. An early ad-
vance in sugar was due to the rise in
theh price of the refined product and
there was some late strength in the
steel stocks on reports of new orders
being placed for iron products. The
further advance in sterling exchange
and the admission by international
houses that they expected to ship gold
this week seemed to be without eff
feet either on the stock market or the
money market.
The money market continued dull
and prices moved both ways. Total
sales par value, 1880 900.
U. 5. refunding IS when issued old
As the IS and IS registered advanced
PC; IS coupon &c and new As 1sc
in the bid price