Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-07-27
Government bonds strong.
State bonds inactive.

Government bonds strong.
State bonds inactive.
Railroad bonds irregular.
Stocks-The warting attitude OF the
stock market was emphasized to-day.
Both buyers and sellers were scarce and
the market was nearly stagnant, as
shown by the long intervals during
which the ticker was motionless. The
professional traders had discourag-
ing task in their attempts to get SUI
ficient variation in prices to make
their trades. The market was equally
reluctant to follow the lead of the few
stocks which showed any strength or
to respond to the exceptional weakness
in one or two cases. Sugar, Tobacco
and Brooklyn Transit formed the
centre of the rather feeble attempt OF
the bulls TO advance prices. The lat
ter stock was lifted at one time over
two points, reports were circulated that
the statement of earnings for the fiscal
year will prove better than has been eX-
pected. But the high price was very
poorly held and in fact was entirely
lost, though slight rally saves small
net gain. Baltimore & Ohio was the
most prominent sufferer from selling,
and was traded in two points below yes
terday. Doubt was cast upon the
promised dividend for the half year by
current rumors. A semi-oflicial an
nouncement given out late in the day
that a half yearly dividend of 2 per
cent would be declared in August, caus-
ed the recovery Of less than half of the
loss. Missouri Pacific was also notably
stagnant on the practical abandon
ment of recently encouraged prospects
of a dividend. The dividend in the
Wabash net earnings for June follow
ing that of the Southern Railway re-
ported yesterday and arousing appre
hension of other decreases to come Was
a depressing influence. The steel stocks
were quiet and irregular, pending the
conference of steel interests in Chicago
and the undertone was heavy on the
rather threatening attitude reported to
have been assumed by the post power
full interests in the trade.
The advance in ocean freight rates,
owing to the withdrawal of various
German steamships for the transport
service to China, was an unfavorable
influence indirectly upon the steel
group, as the scarcity of ocean freight
room is hampering the export prospects
in the pig iron trade. Metropolitan
Street Railway was sharply depressed
with no explanation, and the loss in
Delaware & Hudson was due to labor
troubles in its mines. Sterling ex-
change advanced an additional fraction
and the tone was reported strong. Ex-
change bankers say that the rate has
not yet advanced to point that offers
profit on exports of gold to London.
But it is believed that the advance will
continue until the export point is
reached. The Paris requirements for
gold from New York seem to be salts
fed for the time being, but sterling
exchange in Paris fell again to-day TO
one centime below the Tuesday rate,
which had prevented the expected
movement of gold from New York to.
Paris. Considering the meagre recu-
peration in the Bank of England's con-
dition, the failure of the governors to
raise the discount rate was surprise,
and the private discount rate in fact
rose above the bank rae during the
day. The weekly statements of both
the Bank of France and the Bank of
Germany were very strong and the i'm
Iueuldle BOIu requirements are eFlueHl-
ly greatest for the British institution.
Both London and Berlin are reported
to be large sellers OF high grade
American railroad bonds. But the
operations are evidently conducted
through other than stock exchange
channels as there are no large transac
tons made there and prices are little
changed. The selling of high grade
bonds by foreign holders with the offer
ing in this market of foreign govern
ment and municipal bonds goes to ex-
plain how the country's enormous bal
aDce on merchandise account is being
met Total sales par value $40, 900.
United States refunding Is, when is
sued, and the IS advanced Il, and the
new As coupon, old is and 5s Is in The
bid nrice