Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-03-31
Mexican dollars 47Mc.
Government bonds weak.
State bonds frmer.
Railroad bonds irregular.

Government bonds weak.
State bonds frmer.
Railroad bonds irregular.
Stocks-The railroad stocks retired
into the background of the stock mar
ket to-day and gave place to the in
dustrials and specialties. Sugar al
most outdid it's traditional reputation
for uncertainty by suddenly ~retracing
it's course yesterday and mounting
we'll above yesterdays high point.
There was a ~momentary decline of less
than a point at the opening and then
a quick rally, and the stock never got
back to last nights closing level.
Twice during the late dealings it was
Is points above the low level in the
morning, and it's net gain was liz.
The transactions in the stock were
enormous and the buying without a
| doubt came very largely from the out
| standing short interest, but the urgent
| demand from the shorts vas prompted
| by what they believed were evidences
of buying for the account of inside in
| ~terests. The course of the stock clear
ly demonstrated a cynical skepticism
on the part of the speculative public
regarding the sincerity of the pessimis-
tic official outgiving which caused yes
terday's slump in the price of the
stock. All sorts of sensational ru-
mors were afloat regarding measures
for compromise of the Sugar trade war
and there were yelled intimations that
the opposition refiners had been EMU
lating the example of the Metropolitan
Street Railway interests in the Third
Avenue coupon by acquiring Sugar
stock at the decline. At all events
the shorts in the stock were acutely
perturbed in mind and scrambled to
obtain stock. The local traction
stocks furnished the other surprise in
the market, and, like Sugar, devel-
open aggressive strength in the face
of bad news The demand in this
group undoubtedly came from the
shorts. The figures given out from
Albany last night Of the valuation
| placed upon the franchise of the New
York traction companies were as high
as the most ~extravagant estimates in
Wall street. With the exception of a
preliminary drive which carried the
stocks down from 11a to 4 points, the
whole group was eagerly bought all
day, rising we'll above last nights
figures and not falling far below that
level again. Peoples Gas and a num-
Der of the iron and steel stocks by
rising sharply, completed the demon
stration of strength in the industrial
group. The demand for the railroads
seemed to have quieted down for the
time being, with the exception of a
stock here and there in the list, which
showed a good advance. But the
pressure upon the money market Incl
dent to the quarterly settlement next
week, which was manifest in foreign
markets even more than here, had it's
influence in checking the buying move
ment. AS the buying of the special
ties was largely to cover short con-
tracts, it was not influenced by money
market considerations. There was no
stiffness in the rates for money, but
preliminary figures of to-morrow's
bank statement failed to indicate st
strong a return as has been counted
upon. Owing to the falling off in the
amount Of government bonds offered
for conversion, the disbursement of
gain by the banks from the sub-treas-
ury will be less than a million dollars.
On the interior movement by express
the net receipts are estimated at less
than half a million. AS against this
small gain in cash, the expansion in
loans has unquestionably been large.
There is ground for doubt, therefore,
whether considerable inroad has not
been made on the surplus.
Business in the bond market showed
a falling off, but prices were about
maintained. Total sales par value
1880. 900. United States IS, old As and
new is declined u in the bid price.
Do preferred -SM
Baltimore and Ohio ...." sg
CCaanaalan Paeiflc 81
] chicago Great Western 14A