The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-05-14
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.

muTReG3s
NEW YORK, May 1.-THE tone Of the
trading in stocks was feverIsh and un-
certain to-day and the disposition TO sell
was still evident, There was an effort
to support some stocks and the short
selling by the bears was followed by
buying to cover contracts. Missouri
Paclfc was lifted at one tina q point
above last night. carrying the railroad
list with 1t. The grangers; especially
Burlington and Southern railway pre-
ferred was pretty well supported, after
the rally in Continental Tobacco prefer
red from it's 6k point slump. This'stoci
recovered almost completely before the
close Stocks were offered freely at the
higher level Of prices and declined TO. th1
lowst before tho appearance Of thu bank
statement. Peoples Gas, the local
fractions and the steel stocks were all
notably, weak, and large losses WE'RE
registered in n number of shares which
have not been traded in during the re-
cent declines, Some effort was madeby
rally prices after the bank statement
because 1t failed TO show the expected
heavy expansion In loans but ia was
successful only in Isolated Instances.
The close was unsteady and at net
changes were mixed. The weekly re-
ports OF the mercantile agencies con-
iirmed the feeling that the business re-
action expressed In the senate yestar-
day OF the possibility OF foreign compll-
cations on account Of the Monroe doc
triEe as applied to the Danish West In
dies was cited by tho bears as further
ground for speculative depression. Thg
report OF \ small decrease in the Loan
account Of the banks for the week In
stead OF a heavy increase was STIR
prise to Wall street It did not alter
the belief In the reported loan TO Penn
sylvanIa, which is to-day reported to BE-
from fifteen to twenty million dolllrs
The placing OF such loan late in the
week would figure In the bank state.
ment for the averages OF only one day
The calling of loans earlier In the week
fu preparation for the new accommodl-
ton would figure Extraordinarily IN
the averages, Thu effect would be 10
throw the showing OF the new loan IN
the statement Of the following week
Prices for stocks are lower than they
were n week ago after a week of great
irregularily and uncertainty in move
mont. For two days the market looked
as though general Liquidation had SCI
in, but the quick recovery on Wednts'
day afternoon was tho result OF a move.
ment to cover by the bars who had
been selling short, but who becamq
alarmed at the cessation OF the pFesSHFg
10 hQuidate. The liquidation In fac!
seemed to b. completed for the time be-
ing and It's limited extent gave color 70
the suppositlon that II had been dun te
selling out Of pool whose members hai
grown tired pf their non-succ2sj In get,
ting prices up. The strong and skillful
manipulation with which the market
was sustained while the liquidation was
being effected showed that the sellers
had large resources and Wide reach
ing concert Of action.
stocks and subsequently showed sont
recovery. United States refuudlnE e
when Issued, the IS AND old 4s declined
Is per cent and new Is Y per cent In the
bid price.