Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-03-14
Mexican dollars 47%.
Government bonds weak.

State bonds inactive.
Railroad bonds firm.
The stock market to-day showed
very plainly the effects of the reduc-
ton of the short interest which &C
companied yesterdays sharp advance
In prices. While yesterdays cover
ing movement was in part the cause
of the sharp advance, 1t was also the
result of substantial buying, which
was attributed to large financial In
terests. This buying was not in ev-
idence to-day. London also was dis
posed to take profits on the news of
the arrival of British forces before
Bloemfontein. But, notwithstanding
the lack of aggressive strength in the
market, the bears showed themselves
timid about making fresh ventures.
There was some pressure against the
list at times, especially Sugar, Peoples
Gas, Steel Hoop and the New York
City stocks generally. Missouri Pa
cific suffered from disappointment over
the showing made in the annual
statement, and Rubber was raided
down an extreme 31a per cent. These
and other declines were largely recov-
cred before the close, and in the final
transactions a sharp marking UP of
prices showed that the shorts among
the traders were having difficulty in
getting back the stock they had sold
earlier in the day. Offerings Of
stocks on all recessions were, in fact,
extremely light, and there were points
of strength which acted as sustaining
factors for the whole market, notably
Third Avenue, the Atchison stocks,
New York Central and Norfolk &
Western preferred. 1t was thus made
manifest that the market waits On
developments in the money market
for a rise, holders of stocks are not
prepared to make concessions to sell.
Call money did not command above &
per cent, and fell to per cent, but
this was probably due to the cessation
of stock market demand as much as
to any new supply of funds. The
losses by the banks to the sub-treas-
ury since last Friday already foot up
$3,284,000 which is more than half the
remaining surplus over the legal re-
ouirements held by the banks. 1t is
evident, therefore, that relief from the
operation of the currency law must
come quickly If it is to prevent a
pinch in the money market. A feeling
of assurance was caused by an init
nation from Washington that the first
payments on account of the bond pre-
miums in the refunding operation will
b made from the sub-treasuries, and
eCt from the government deposits in
National banks. The money market
is expected to show relief from this
source more quickly than from the
putting out of new circulation. A
striking feature of the days events
was the sharp break IN sterling ex-
change, demand sterling yielded $ per
cent and cables " per cent on the
pound. Considering the advance,
London discounts the selling of
stocks for London account here. and
the reported large subscriptions in
New York to the British loan, the
course of sterling was the more re-
markable. The explanation that may
be found in the statement of mer-
chandise exports from New York for
the week were valued at $15,243, 999,
against $13,570.162 in the preceding
week and $9,S7S,229 in the correspond
ing period of last year. The move
ment of cotton, and the high price
prevailing, are the principal causes Of
the high export figures.
Bonds continued in good demand,
and prices were firmly held. Total
sales. par value, $S.435,0Oo. United
States rs declined u per cent and the
old As Y per cent in the bid price.
Atcnison .....s @s...s. ss.s.............~-. ~
Do. preferred ........................... 6a5z
Baltimore and Ohio ........ = i. 6SXa