Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-07-17
IRE Cienr,ns House.
A SHOW OF STRENGTH
In the stock Market Was Disstpated
Before the CIose-Banks Not En-
couraginR Speculation.

tBy Associated PreSS.)
NEW YORK, July d6.-There was a
show of strength in the early stock
market to-day, but 1t was mostly dissi-
pated before the close. The market
continued to pay close attention 10 the
crop news and the reports over night
of rains was a strong influence In the
advance of the corn carrying railroads
which extended from 2 to 21s in the
most prominent members Of the group,
Atchison leading. The sharp rally IN
the corn market late in the day and the
language of the weekly government
crop report depressed the corn roads
again and just before the close st. Paul
fell to a sharp fraction under last nlgat.
The government cotton report was con-
sidered favorable and was reflected In
the comparative firmness OF some Of the
southern lines. The United States Steel
stocks were apparently pegged and
their unyielding support discouraged
mere raiding tactics on the part of the
DtdIS. IA COutl1ucu Itd vi iQuiud-
ton all day seemed to influence buying
of the Pacifcs, Changers and South
westerns, but it consisted in the accept
ance of offerings rather than of active
bidding for stock and not much resist
ance was offered to the late reaction.
The banks show no evidence of a desire
to foster renewed speculation and are
asking rather higher rates for time
money. Call loan rates receded but
without resulting in any actual pressure
of money to loan. Sterling exchange
was also easier this morning. although
it stiffened again before the close. Fav-
orable progress was reported In the
support accorded the United STAGES
Steel stocks seeming to reassure senti- |
ment there. The discount rate at Ber- |
lin was easier and the situation there
was reported to be sensibly ameliorated.
New York exchange at Chicago rose
again to % cents premium from 5 cents
premium yesterday. The s~ub-treasury
is contributing to the money market
and that institutions debit at the clear
ing house to-day ran up to $3.50, S35,
due 80 heavy pension payments and to
the payment Of a check for Klondike
gold deposited on the Pacific coast. The
~relaxation thus variously indicated Of
requirments upon the New York money
market was the important factor in The
frmer and quieter stock market to-day.
The headlong liquidation of last week
and yesterday morning was thus shown
to De unnecessary. There is no dispo-
sltlon, however, to encroach upo the
money market supplies, which 1t Is be-
I4eyed will be certainly needed at an
early period in the crop movement.
Among usually inactive stocks wide ad-
vances worthy of notice were in Chi
cago & Eastern Illinois, 6%, Texas G.
Pacific Land Trust s; General Eelectrid
5, (afrerward LOST; La Clede Gas 8; Das
Moines and Fort Dodge AZ; Consoli-
dated Gas 3k and North American 8.
The railroad bond market was quiet |
and irregular within a narrow range. |
Total sa.es par value s1,435.0c0.
United States 3's, the old As and the
SIS advanced Il, and the new As declin-
ed 4 per cent on the last call.
Closingi Closing |
Stocks. Bid Stocks. Bid. |
Atchison ......... z3Nf Met. St. Ry. 4. 1861 |
40 pref ......... &%lMex. Central :. e3N !
Bait. & Ohio....- S5AlMex. National. 9ss |