Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-10-18
CONFUSION AND HESITATION
Were the Only salient Features of
the Day.
Csy Associated Press.)

(By Associated Press)
NEW YORK, October 17.--To-day's
stock market was again quite incon-
elusive as an index 10 any consistent
speculative sentiment. Confusion and
hesitation were the only feelings re-
lveaied. Although prices covered con-
siderable range, and in some cases sew
eral times, the net changes of any con-
sequence will be found very few. The
same brokers, acting TO all appearance
for the same interests, were on DIFF
ferent sides Of the market at different
times of the day. This was especially
true of the operation in the southwest
railroad group, in which heavy selling,
seemingly for inside interests, was toi-
lowed by even heavier buying FROM the
same sources. The midday weakness
in this group interrupted a hardening
tendency in the market as ii did yes
terday. The feature of the morning
dealings was the marking up OF num-
Der of high priced investment railroad
stocks. This movement was prompted
by the sales yesterday of Lake Shore
at 500, which were confined TO Two
transactions, and the alleged raising
of the bid for Chicago. Burlington 4
Quincy TO Pill. which proved on inves-
tigation to be wholly fictitious. On
this rather slender basis there We're
hung various sapient dissertations up
on the significance OF the pressure of
capital thus revealed into the high
class railroad stocks, and the example
was taken up this morning, possibly
by investors and possibly by the ingen-
ious professional operators who have
been seeking to awaken speculative In
terest In stocks. The movement had
lost much of it's force by midday.
Much more impressive was the sudden
ACTIVITY IN Northern Pacific preferred
after period of practical stagnation
lasting ever since the panic of May 3.
Not only was the demand for this
stock quite strong. but the supply was
extremely liberal. many 1000 share lots
being dealt in and the days transac-
lions reaching a considerable total.
Among prominent sellers were brokers
often employed by the capitalists
whose jealously guarded control of the
company Is known to be maintained by
holdings of the preferred stock. The
Incorporation in Iowa OF a Chicago,
Burlington & Quincy Railway Com
.pany stated to be fore the purpose OF
acquiring the Chicago, Burlington &
Quincy railroad, coupled with this
movement in Northern Pacific prefer
red, caused new attention to the re-
Gently prevalent reports Of progress in
the plan of settlement for working out
the Northern Pacific tangle. but the in
fiuence of this development did not ex-
tend beyond st. Paul, Great Northern
preferred, Union Pacific and Southern
Pacific. Amalgamated Copper eontin-
ued active but the belief grows that
this stock is influenced at present by q
speculative duel between two profes.
sional operators rather than by the
actual conditions of its finances or th'
trade. The stock was firm to strons
and shows a net gain OF Ia. sugar
was another prominent feature ant
gained for the day IL. The covering
of outstanding shorts was an import
ant influence on the latter stock. The
weekly exhibits of the great European
banks reflected clearly lne strained
conditions which have developed In the
Paris money market. while the condi-
ton of the Imperial German Bank
showed a material and unexpected I'M
provement. Otherwise there was nc
marked change in the money or inter-
national exchange situation.
Railroad bonds were quite firm on
good volume Of business. Total sales
par value. s1,s05 600.
United States 2's advanced Il and
the SIS coupon declined W per cent on