Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-05-23
THE APATHY INCREASING.
MARKET ONLY RELIEVED FROM
SEMI-sTAGNATION ~ A MOVE
MENT IN ERIE.
. GoULDrvANDERBILT MOVE
CONTROL OF EXISTING ROADS
LIMITED AT.


-
NEW YORK. MAJ 22.-The stock
!, Eag...ss f.. still further into apathy to-
day and was only relieved from semi
stagnation by the movement in the
Erie stocks. Considering the present
indifference of the speculative public
to the market the volume Of the trans
actions in Erie must be accepted as sig
nifcant. The professional traders at a
loss TO secur even q fractional profit in
the turn in the market focked to the
Erie movement, and added their specu-
lative operations 30 the other buying Of
the stock. The opinion, however, gain
ed force On the exchange that the
movement marked a resumption OF op-
erations for the extension of influence
and control of existing railroad sys-
TENS. The buying was attributed to
Wabash in this and there were sundry
circumstances which offered some cor
roboration. Statements were publish
ed this morning to the effect that a
controlling interest had been secured
In Lackawanna in orler to afford an
outlet to the seaboard for the Wabash
and the Gould Southwestern system.
This evidently represented an effort to
account for the recent strength of Wa
bash and it's southwestern affiliations
in face of the disappointment over the
non-declaration Of a dividend on Miss
ouri Pacific. 1t has been stated with
particularly for several days past that
the buying of Toledo, st. Louis & West
ern stocks was for Vanderbilt account,
and it was claimed to-day that control
had passed. 1t is to be considered that
these roads run over closely related
territory and the activity in their stocks
favors the presumption that the prob
lem of their future relations and on
troll is being worked tut. The strength
of Chicago, Indianapolis & Louisville
and of the Chicago Greatwestern stocks
may have had a bearing on the same
problem. The strength of the bitumin-
Gus coal carrying roads was directly
attributable to the declaration after a
dividend of III per cent on the COM
mon stock of Hooking Valley, the first
in its history. The Wheeling & Lake
Erie stocks, Norfolk & Western and
Chesapeake & Ohio all moved upward in
sympathy. The strength of the Read
ings was Connected in sympathy with
Erie in its character as an anthracite
carrier but Erie was the only one of the
group to maintain it's advance. This
stock closed at the highest at a gain of
"a. Some of the blocks purchased
ran as high as 5000 shares. A feature
of the day was the sale of Northern
Pacific at Ill compared with 1864 last
night, but the stock dropped back again
to $50. An unpleasant impression was
produced by a suggestion that the au-
thorities of the London stock exchange
would rescind the suspension of rules
for buying in of Northern Pacific stock
against the shorts. At the last settle
ment, it will be remembered the diff
ficulty on this account was adjusted
by allowing the shorts to carry over at
a fixed price. But this left their con-
tracts still uncovered aad the buying in
of shorts for the next settlement, which
occurs next week would be the occasion
for renewed un~easiness. This uggest-
ion and the announcement of $500, 900
exported gold had a part in the early
heavines of the market. The fact that
there were no additional gold engage
ments contrary to expectation, may
have had home influence in the later
hardening of prices, but the vigorous
advance in Erie was the main factor.
A number of minor industrial stocks
were strong on very palpable manipula-
ton. Des Moines and Fort Dodge was
lifted 21s and the Wisconsin Central
stocks 2 and "a respectively for the
common and preferred. In the general
list changes are small and somewhat
mixed. The bond market was no very
active, but showed some strength. To-
tai sales par value 81, 450, 900.
U. S. new As declined u per cent OF
the last call.
Atchison =. i. j.. -. ISIS Manhattan L ia
do pref -. -. IS Met. st. Ry..... 1854
b. & O. !. :. -.10ihFMex. Central -. 26A
do. pref -. -. 93ial Mex. National =. IFS
Can. Pacific ....1GSk MINI. & st. L.. 9l1a
| Can. Southern. 81 Mo. Pacific .....l04