Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-06-23
.exican dollars 47asc.

Government bonds steady.
State bonds inactive.
Railroad bonds inactive.
Stocks-The stock market developed
acute weakness before the close to-day,
offering a surprise to professional trad
ers who came down to Wall street this
morning under the impression that
the market had been oversold and was
due for a rally. This continuation was
strengthened by the early course of
the market, which opened higher in
sympathy with London, where there
was a better feeling on account of lack
of confirmation of some of the alarm
list rumors regarding conditions in
China. The buying OF the Reading
stocks and of New Jersey Central
which made such an Impression ON SEN
timent yesterday, wa still in evidence,
and during the course of the first hour
some of the railroads had advanced as
much as l to III points above last
night. The steel stocks had rallied
from an opening depression and were
bought on the more cheerful views of
the outlook for the iron market and
the local traction stocks rallied on
covering of short contracts. The de-
cision of the international bankers not
to ship gold on to-morrow's steamer,
the fall in exchange rates having wiped
out the profit on the operation, was a
stimulating factor. During the curse
of the first hour, however, large Of
ferings began to appear in Northern
Pacific, coupled with renewed reports of
disastrous conditions in the spring
wheat region. The coalers and trunk
lines made some resistance to the de-
clining tendency of the ma.hct, but
they proved unavailing as d sustaining
force and weakness spread through
the grain carrying roads and the in
dustrials. Stocks of industrial corpor-
ations, and especially of those con-
trolling public utilities in cities, all
showed acute weakness. The pressure
against Brooklyn Rapid Transit be-
came very severe as the day advanced,
and that stock at the lowest was ia
below the early high point, and the
net decline was 5%. The unfriendly
attitude of the public towards this
class of corporations was an influence
in their weakness, but there was liqui-
dation from some special source in
Brooklyn Transit. Some of the stocks
offered to-day were said to be by the
banks which had held them as col
lateral for the loans OF a large stock
exchange firm which recently failed,
The professional bears were also active
in offering down prices, but they met
with great success in d~islodging stop
loss orders. The final rally in prices
was fitful and feverish and the market
closed much unsettled and not much
above the low level. The banks were
reported to be calling loans to a con-
siderable extent, presumably in prepa-
ration for the payment Into the sub
treasury on Monday of the government
deposit which have been called to the
extent of $4,000, 900. The estimate OF
the weeks cash indicate a gain by the
banks by considerably over a million
The payments which the banks had to
make to the sub-treasury were practic-
ally Offset by the payments of that
institution to the market. The cur
rency movement with the interior has
continued largely in favor of New
York. The rate for call money at the
stock exchange is not an accurate index
OF money conditions, as the large Dor
rowing demand for stocks for delivery