Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-11-24

Silver certlncateS b4Wooc.
Bar silver 63%c.
Mexican dollars SOC.
U. S. refunding Is registered. 1900. .1o5
Do coupons ....-...............-. ". ivo,
U. S.. IS registered .....,......,......,li00
L. S. new As registered. ...........-......l 5lA
Do coupons .......................... 2
L. S. old IS registered ..-.............li2
Do coupons ACKNOWLEDGEMENTS. lbs
L. S. IS registered .....................!lS t*
Do coupons .-.-..........ll314
Government bonds strong.
State bonds steady.
Railroad bonds irregular.
NEW YORK, November 23.-The
slump in Steel and Wire Of Az poin:s
lust at the close of the trading last
evening was universally regarded as a
danger signal. The speculative public
came down to Wall street this morn
ing in mood receptive to suggestions
of depression and reaction. The first
suggestion came in the form of a fur
Their break of points in Steel & Wire.
Apparently no more effective point
could have been selected at which to
attack the market This was known
from previous experiences with this
particular stock. The iron and steel
trades are supposed to have had most
to hope and in fact actually to have
enjoyed most of the benefits of the re-
vival of business and industry. The
sudden weakness of Steel & Wire did
not raise any doubts Of the reports
heretofore accepted Of the prosperous
conditions in that trade and the ex
cellent prospects for the future, but
it did arouse serious apprehension OF
a determination on the part of some
eteel magnates to enter upon a course
of slashing competition and to unsettle
the trade, as they have already proved
themselves abundantly able to do. The
understanding effect of such an out
break of apprehension exhibited by
holders of long stock to-day. The steel
stocks themselves were most immedi-
ately effected, but heavy declines are
shown in almost every department of
the stock list. The sharp effect pro-
duced was due in part, of course, to
the extended speculative accounts held
all through the market. The purpose
OF the bear manoeuvre was palpably to
dislodge these holdings. They sue
ceeded very well in doing this. AS
the decline in prices extended the Of
ferings increased. Those stocks in
which the recent speculation for the
advance has been most active were
naturally the most affected. The local
traction stocks, the grangers, the Pa
Cities and B. & were the most prom
inent in the downward movement. Su-
gar was freely sold on the cut in prices
OF refined sugar and coffee which seem
ed TO threaten a renewal of the trade
war. But the stock was very feverish
at all times. Practically the only eff
fective resistance offered to the de-
cline was in the early deals
New York Central and Chesapeake
peake & Ohio showed continuous
strength at that time, New York Gen.
trail rising 19s over last night An
effort was made also to boom Amalga-
mated Copper on the occasion of its
first being dealt in in the unlisted de-
partment of the exchange, but the first
price which was 9912, was the highest,
The price subsequently fell back to
S79s compared with 9S1s in the curb
market last night. The frequent rail-
lies during hte day when room shorts
were taking quick profits showed the
professional bear character of the at
tack on the market. But the buying
demand seemed not to extend beyond
the short interest and the market
quickly lost animation ON the rallies.
The closing itself was wavering and
uncertain, but at considerably above
the lowest for many stocks There
was nothing in the money market to
cause apprehension rates ruling at 31s
per cent or lower practically all day.
The receipt of gold from the Pacific
coast insure a good increase in cash
reserves for to-morrow's bank state
ment, although the net receipts from
the interior on the express movement
show considerable falling off from
last week. An expansion in loans is
expected on account of the speculative
activity, but the easiness of the money
market is evidence that the position of
the banks is not materially weakened.
There were firm spots in the bond
market, but railroad bonds as
whole were affected by sympathy with
the reactionary movement in stocks.
U. s. IS registered advanced y and
do. coupon and the IS Il, the old As
IS, new As II and refunding % when
issued Is per cent on the last call.
Quotations closed bid: