The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-04-23
FINANCE AND TRADE.
The Features Of the Money and Stock
Markets.


NEW YORK. April 2l.-The stock
market took on an appearance Of gener-
al liquidation before the conclusion OF
the Saturday short session. Stocks
were thrown over In large blocks and
the whole list broke badly, the general
range OF prices OF the most prominent
active stocks falling to level from to
points under last nights close. In
many instances the loss exceeds these
figures. The results Of yesterdays meet
ing of the executive committee OF the
American Steel & Wire Company were
very different from what Wall street
had persuaded itself they would be. The
confirmation OF the chairman's asser-
tions of ver-productlon In the, cOmpA-
mics lines and the decision TO cut prices
was not To be construed as Reputation
and contradiction OF the acts ard
gloomy predictions OF Chairman Gates,
made on Monday Yesterdays rumo' 8
OF change OF control OF the company. tie
ousting OF the chairman and the install
ing Of II. C. Frick had all been dlsslpa'i-
ed when the stock exchange opened tbs
morning. The effect was seen In n
sharp break in all the Iron Industries
on the opening transactions. 1t reacR-
ed 4 points In steel and wire and nearly
that In others. The general list gaze
way in sympathy, but met with powen-
full support. The steel stocks rallied
with the rest OF the market on covering
by shorts. But It soon became evident
that the support accorded the marklt
was simply to afford an opportunity Rr
realizing. Liquidation set In on a
large scale. Stocks which have betn
"bulled" had the heaviest weight to car
ry on account OF speculative profit taxi
ing. Missouri Pacific and Baltimore &
Ohio were conspicuous In that class, the
former falling 3h and the latter 2& per
cent. Declines reaching points were
numerous all through the railroad and
Industrial list and In several stocks eX-
cceded that. The bears were disposed
to cover on the appearance Of favor
able bank statement, but the rally re-
newed the pressure to liquidate and
prices fell to the lowest. Among the
steel stocks the extreme declines were:
Steel & Wire. 6A; Federal Steel b; steel
Hoop preferred 4; Republic Iron & Sle9
preferred 81: Steel Hoop, National Steel
and Tennessee Coal & iron 3 per cent.
Losses elsewhere in the group ran up to
2& per cent. There were some spas
modfc rallies on the taking Of quick pro-
fits by the bears, but the activity and
general weakness continued up TO the
close
stocks are generally lower than at the
closing OF last weeks trading, which
was on Thursday. and the volume of
business has shown a progressive de-
crease from day to day The pools and
combinations, which have had in view
the bidding up OF number or special
stocks. have relaxed their efforts Rppre-
ciably, and the bull contingent generally
has assumed a waiting attitude, where
they have not turned actual sellers to
realize. Wnll street attributes this
condition OF AFFAIRS largely to what is
called "the Steel & Wire episode. Ger
tain Insiders in that company have been
known to be heavy sellers OF the stock
The bond market has not kept up to
the full level OF activity and strength,
but strong points have persisted In 1t all
week.
United States SIS, old ss and SIS reg
isterpd declined n and do coupons y
per cent in the bid price The new a.
advanced per cent.