Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-02-15

81. L. and s. +. general IS. .129%
81 raul consolS ..........................1S 1856
st. p: Chi. and Pac. 1sts... .1l8h
40 os .............-............ .12012
Southern Pacific As ...................... 9Ois
southern Railway 5s ....................116
Standard Rope and Irvine Is. ..... 81
Texas and Pacific sts..................11S
11u;o, 1hps 95
1uon racine As ........ ............... .100as
VaDasn ISIS ......... .....................11 1884
90 2nds ......... .......................110 1a
Wisconsin Central lists 'l Idi4
virginia Centuries ........... ........... 90
Government bonds strong.
State bonds inactive.
Railroad bonds irregular.
There was a marked relaxation to-
day OF the pressure to sell stocks
which carried prices downwards yes
ferday and prices showed some recov-
cry. The recovery did not set in I'M
til the market had been further tested
by the bears, causing general declines
below yesterdays level. In conse-
quence, the net changes of the day are
as a rule small but mostly gains.
London advanced prices before the
opening here but turned seller after
perceiving the drift of sentiment in
New York, ana sold q few thousand
shares on balance. There was no very
manifest cause for the recovery al
though a few usually obscure stocks
showed aggressive strength, but the
fact was very evident that the urgent
pressure of speculative liquidation was
relaxed. The bears who sold yester-
day covered their contracts in conse-
quence. This probably accounted in
great part for the show of firmness in
the market. The bears have received
too many severe lessons in the last
few months not to have become rather
timid. especially in the face of the pos
sibilities constantly limited at of fur
Their important financial developments
In YESTERDAYS decline much was made
OF the fact that the stocks generally
included in the interests of the promi-
nent financier who has borne the most
important part in the recent consolida-
tions were uniformly weak. and this
was alleged to be due to the coming
departure Of this financier on his an
nual vacation trip to Europe AS
though in reply to these considerations
the stocks thus involved were all sup
ported to-day, including Federal Steel
the Fries, the Readings, Northern Pa
cifc and National Tube The sharp re-
covery in the steel stocks served as
an admonition to those who have
counted upon a break in the group
The announcement of the terms of
the steel merger are believed to be i'm
minent, but the whole speculative
world is profoundly puzzled as to what
the terms will be and the exact period
when they will be published. With
this development hanging over the
market, there was hesitation and more
or less apathy in the trading. There
was no sign of resumption of the heavy
buying by banking interests which
has so often been in evidence previous
to the recent consultations. Pere
Marquette rose 65s, st. Louis and San
Francisco "a and the second preferred
AS; Chicago Greatwestern preferred
"B" 3, and a number of minor stocks
considerable amount on persisting
rumors of consolidation. Lackawanna
rose an extreme 31a, and Delaware &
Hudosn AS over last night. General
Electric was conspicuous for an ex-
IRENE advance of 16 points over last
night with reaction of 81. The local
traction stocks, Sugar and Tobacco,
were consplcuously strong at times
and North American was forced up 2
points. Atchison was lifted above 81
None OF these gains were fully held
and the tone Of the market was rather
heavy at the close and the volume of
dealings very materially curtailed A
number of newly listed securities were
dealt in for the first time, including
the stocks of the American agricul-
tural chemical company, the Crucible
Steel Company and the Toledo, St.
Louis & western railroad company,
the quotations OF each being advanced
over the opening prices. Indications
continue of a harder money market,
the sub-treasury to-day taking $751;
900 from the mark on routine opera
lions in spite of heavy disbursements
for pensions. Sterling exchange was
lower in spite OF the continued active
demand for money in London. There
was less doing in railroad bonds and
prices continued to move irregularly.
Total sales par value. S4,o45,000.
U. s. new As and 5s advanced II per
cent each on the last call.