Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-11-30


State bonds strong
Railroad bonds irregular.
To-day's stock market was the dullest
since the Monday preceding the election
There We're no dealings on any eonsld-
cradle scale and the movement of prices
was sluggish and irregular and not i'm
portant. The market narrowed very con-
siderably also, the number of different
stocks dealt in being smaller than for
many days past. 1t is not improbable
that to-morrow's holiday prompted the
curtailment of speculative ventures. The
dealings were left very largely in the
hands of room traders and the larger in
terests and the public were apparently
out of the market entirely. There was no
great pressure of liquidation, but when
any considerable volume of stocks was
offered there was not sufficient demand
to sustain the price. On the other hand
even smaller demand was sufficient to
effect a considerable advance in price,
as the selling orders in the market were
also on a very small scale. The market
was very generally heavy in the early
part of the day, largely from the infu-
ence of weakness in the London market.
The disclosure through yesterdays Lon
don settlement of a long account in
Americans is interpreted as weakening
the technical position of this market and
the growing ughtneSs of money in Lon
don gives rise to the apprehension that
New York may have to absorb consider
able speculative liquidation from that
center. In fact, the selling for London
account to-day was estimated as high as
rs, 900 shares on balance Both cali money
and discounts in London are above the
stances this would lead to the expecta-
ton of an advance in the bankrate to-
morrow, but the scarcity of money is
due to the preparation for the exchequer
bond issue on Friday. Wh%l this is met
there is likely to be refuX of govern
ment funds in the money market which
would endanger the control of the mar
ket by the Bank of England.
is therefore problematical Our own
money market continues unruffled call
loans falling away in spite of the con-
tinued absorption of funds on sub-treas-
ury operations and the postponement of
the return e the volume of funds from
the interie< The recent daily average
transfer of 100000 to $500 900 to New Or
leans was supplemented by the transfer
OF 100000 to Chicago through the sub
treasury to-day. If the activity of in
terror business is to NAVE new demands
on New York for currency il may upset
calculations over the future of the money
market. This may have prompted some
of the disinclination to deal in stocks.
The early heaviness of the market gave
way quite generally to a recovery in the
late dealings after London had ceased
selling. Probably covering by room
shorts was a factor in this movement.
The gains were not all retained to the
close, which was moderately active and
irregular. A number of October state
ments of net earnings of railroad COM
pdnleS were pubnSned during the day.
which We're favorable with the exception
of the Reading Company. The net earn
ings of this company for October were
81, 232, 096 less than for October of last
year as a result of the miners strike.
This did not prevent the stock from ris-
ing over yesterday, but ii became heavy
later in the day. Amalgamated Copper
continued to show weakness supposed
to be on account Of apprehension Of I'M
favorable legislation in Montana. The
new Chicago & Alton stocks were largely
bought at an advance of 2as and la per
cent for the common and preferred stock
notably weak. but recovered part of their
losses.
The bond market was quite active and
value, 81 G55, 600.
U. S. bonds were all unchanged on last
call