Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-05-28

EFFORTS OF PROFESSIONAL TRAD
EMS T0 CREATE a MOyE.
MENT WE'RE FUTILE.
fBy Associated Press.l

NEW YORK, May T.-To-day's bus
mess in the stock market was the
smallest for any full day since the
presidential election. There was moth
ing in the market to indicate any out
side interest, either speculative or in
vestment. The bond market shared in
the dizziness. In the general run OF
stocks professional traders made futile
attempts to force a movement OF prices.
but in covering their contracts the
movement wal undone again. There
was a slight hardening of prices early
In sympathy with the movement in the
tobaccos, and then a period of pretty
general weakness. The fact that there
was a general hardening again before
the close showed clearly that this weak
ness was largely due to selling by the
bears. Recoveries were not complete in
n general list, and net losses are the
rule in stocks that were traded in.
These losses represent the gravitating
tendency of the market from i~nanation,
as there was no active liquidation going
on such as was evident from time to
time last week, and which found it's
natural reflection in the large liquida-
ton of loans shown by the Saturday
bank statement. The movement in the
tobacco stocks was the only thing
worthy of special mention in the days
trading. 1t was unexplained except by
the persistence of recently current ru-
mors of a consolidation of all the to-
bacco interests. The movement came
to a halt and suffered some reaction on
the first announcement Of the Supreme
Courts decision in the Porto Rican
cases, owing to the confusion and doubt
as to the scope and bearing of the deci-
sions. Continental Tobacco, however,
held stubbornly and rose to the highest
in the late dealings, closing at the top,
5R points over Saturday. American
Tobacco's net gain was 3A. The weak
ness Of Sugar was perhaps the effect of
the decision, although the trouble with
the importers of refined sugar has af-
fected the stock. Lackawanna moved
up c~onspicuously eight points after an
opening reaction on light transactions
and without explanation. There was
besides a gain in Twin City Rapid
Transit OF AS, North American 4, La
clede Gas 3, Minneapolis G. St. Louis
2, Standard Rope G Irvine 1ss, and U.
S. Leather l.. Amalgamated Copper
vas under some pressure and fell at
one time to ~. Late in the day there
were two transactions of 100 shares
each in Northern Pacific at 1870, COM
pared with 200 on Saturday. The fail
ure to relax the close holding of this
stock ON the part of any of the in
terests concerned keeps alive appre-
hension respecting the Northern Paci-
fic situation. Although the foreign
markets were all closed to-day on ac-
count of the Whitsuntide holidays,
there was a good demand for exchange
from arbitrage houses, said to be in
preparation for the stock exchange set
Element in London in the latter part of
this week. The continued demand for
exchange from these sources attracts
increasing attention to the heavy re-
turn of American securities to the
home market. The money market
showed increasing ease, and it is the
general expectation that further gold
will go out to France this week.
There was a small business in bonds
with an irregular movement Of prices.
Total sales par value 81, 220, 900.
7. S. bonds were all unchanged on
the last call.