Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-01-08


points Of strength would develop.
With. the appearance OF anything like
a bull leadership in a given stock. OF
with the first sign of manipulation for
an advance a perfect horde OF s9ecuia-
tors were ready to rush pell-mell to
buy the same stock. None of these
advances we're we'll held and the pro-
cess of profit taking cost them all the
way from 2 to nearly 5 points. But
even at that reaction, many handsome
net gains were conserved for the day;
the grangers were foremost In the mid
Gay advance, the three leading menu
bers of the group, Burlington, Rock Is
land and st. Paul, advancing 8 to 5A.
Later in the day the anthracite coal
orders. which have not hitherto moved
largely in sympathy with the Read
iEgs, New Jersey Central and Fries,
made impressive progress upwards.
Delaware & Hudson rose no less than
1871, Lackawanna s, and Ontario &
Western 3%. These were the most
striking movements of the day. Sugar
was very erratic, working upwards IN
extreme Sc on the reported advance in
the price of refined sugars, and relaps-
ing AS in the late selling movement,
Tennessee Coal showed acute weakness
or the decision to pass the dividend
and fell an extreme 6B, closing only a
fraction above that. The steel stocks
were inclined to heaviness in sympa-
thy, except tin plate, which was adj
vanced 4as. The rubber stocks were
inclined to weakness, but had a good
rally. Northern Pacific moved up 4%
after its sharp opening decline, and
Peoples Gas had a midday rise of IA.
The list of stocks which rose as much
as three points and a fraction is a long
one, and the stocks which did not fuc-
tuate as much as a point or over were
very few.
1t was evident that the incitiag
cause of the furious speculation was
the recent developments in the rail
read world looking towards vast con-
solidation. The acquisition Of the
Penn Coal Company by the Erie, and
of the Central Railroad of New Jersey
by the Reading. is regarded in the
speculative world as a prelude to fur
Their important developments in the
anthracite carrying properties and
ready credence is given to almost any
suggestion of a plan for railroad con-
solidation. Money also is working
easier in spite of the enormous de-
mands of the speculation. The rather
gloomy condition of foreign markets,
instead of having any depressing effec-,
seems to stimulate speculative activity
here by the strong contrast of this
country's prosperity. The days record
o. business was carried far beyond the
previous high level, the aggregate sales
footing up 2,147, GOO, compared with J.
S37, 900 shares on last Friday, which
made the record up to that time.
Sales of individual stocks to-day i'll
cluded 1872, 600 shares of Sugar, $4,000
shares of Baltimore & Ohio, 131,A0C
shares of Burlington, 189. 900 shares Of
Erie, 1872, 900 shares of Northern Pacific,
1876, 200 shares of Ontario & Western,
144, 200 shares of Reading. 1880
shares of Rock Island and 100000
shares of st. Paul. This scale of trad
ing has never before even been ap-
preached in the history of the stock
exchange.
There was nothing like the activity
nor the strength in railroad bonds that
there was in stocks. Total sales par
value $3,705, 900.
United States refunding Is declined
70 per cent. on the last call.