Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-08-31

DO As coupons Observation-Disclosures. u5
U: s. IS registered. ACKNOWLEDGEMENTS. ll2ia
Government bonds weak. State
bonds inactive. Railroad bonds IT.
regular.
LStocks-The early promise OF
strength in the stock market to-day
was not maintained, and after a brief
period of some activity and firmness
prices began to decrease again, and the
trading tapered down TO the insight
ficant proportions which have become
the recent normal. The traders right
ly concluded that this indicated that
yesterdays advance was due to mining
more than covering of short con-
tracts pending the approaching days
holiday. The steel group especially
disappointed the hopes that bull
movement was under way, by develop
ing heavy tone, steel and wire falling
back over a point. The American Tin
Plate and the American Hoop stocks
were exceptions, and showed good
gains for the day. There was no news
to account for the relapse in the group,
the reports at hand showing a growing
demand for many grades Of iron pro
ducts. There was desultory spaca-
lation in Sugar which lifted it at one
time over point after the announce
ment was made of an advance IN the
price of refined Sugar. But the gain
was almost entirely wiped out by The
time the market closed. Strength in
the London market helped the open
ing hour, causing sharp fractional
gains in a number Of the international
stocks, but London reacted later in the
day, and these stocks lost their vim
tage in sympathy. The railroad state
ments for July, which appeared to-day,
counteracted the favorable effect OF
yesterdays showing by the st. Paul
company, The higher level of operating
expenses serving to bring down the
net earnings in the cases of Burllng-
ton, Northern Pacific and Southern
railway, while c. C. G. and st. L. saved
only small part of its gross increase
for net earnings. The explanations
which were offered of the heaviness of
stocks formed substitutes for news TO
some extent For instance, there was
some renewed solicitude expressed re
garding the future OF the money mar
ket. The fact that the Bank of Eng
land had again offered gold in transit
gave SEOuuQ LOT lu6 OApcGIdIIOA I4l1I
the export movement of gold may
shortly be renewed. Sterling exchange
rose a fraction in New York, and three
months bills in London were advanced.
The London market apprehends some
stringency as an incident of the next
stock exchange settlement, and the pay
ment of the next installment on the
new loan, which comes about the mid
die OF the month. In the pessimistic
mood of the local market the POSSIBLE
ity was suggested that the treasury
department might be Obliged during
the early fall TO draw on its deposits.
with the national banks in order TO
meet extraordinary expenditures for
military operations. There was moth
ing in the days money market to give
color to any apprehension Of higher
rates. The banks have gained upwards
Of $4,000 600 from the sub-treasury and
another substantial increase in re-
serves is indicated for the week. The
market lcosed dull and heavy at a gen
orally lower level of prices.
Bonds were dull and irregular. To-
tai sales par value, $1,175,0
u. S. refunding IS when issued and
the new As declined Il per cent. in the
bid prices.