Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-07-25
Stocks.
FEEBLER FLUCTUATIONS
And DulIness in stock Market, Re-
dected FIsgsing of Speculative In
terest.

tBy Associated Press)
NEW YORK, July 24.-The dullness
and the feebler fluctuations in prices
in to-day's stock market reflected the
tagging of speculative interests which
is usual after an active speculative
movement has expended itself and has
been followed by reaction. BY this
morning, the fact had become quite
obvious that yesterdays violent reeov-
cry in the prices of stocks had been
principally based on the relapse in the
grain markets, rather than on any ac-
tual news from the grain crops. The
consequence of this revised view OF
yesterdays movement was some mis-
giyings that yesterdays reported bene-
tit from rains had been oyer-stated'
These misgiyings were accumulated by
published estimates from exhaustive
inquiry showing heavy damage al
ready inflicted upon the corn crop. Inc
sharp opening declines however, met
considerable effective support and sub
stantial rallies followed. The weak
ness was again renewed in the stock
market when the grain markets open
ed and showed notable strength both
for corn and wheat, the resulting de-
cines in stocks exceeding those at the
opening and extending from the grans-
ers into other portions of the railroad
list. The tendency of stocks to rally
from declines showed the growth or
a feeling among the spectators that,
even conceding substantial damage to
the corn crop, the decline already
affected in prices of stocks has fair
ly discounted the damage. Anoth-
er party argues that prices of stocks
are unduly high compared with pre-
vious years, notwithstanding the wide
declines that have occurred from the
years high level. Thus there is room
afforded for 0 contending parties in
the speculi and the irregular fiuc-
tuation in prices which constitute
what is called traders market.
Money market considerations again
loom into some prominence as rae
tor in the activity of speculation. 1t Is
realized that the heavy liquidation in
stocks of the last few weeks had in
view preparation TO meet the crop NOV
ing requirements and not renewed
speculation The transfer of funds
from New York through deposits at
the sub-treasury is the signal that crop
requirements have begun. The neces-
sity must thus be recognized OF ad-
justing speculative demands upon the
money market to this price or more ur-
gent requirements. The lack of def
mite conviction regarding the outlook
was evident from the confused and IT.
regular movement of prices. An at
tempt was evident to lead an upward
movement by building up Union Paci-
fic and the Wabashes and there was
some show of frmness amongst the
southern railroads and seaboard soft
coal carriers. But the market yielded
at the last to renewed weakness when
the room traders attempted to take
their profits and the lowest prices for
the grangers and Pacifics were made
slightly before the close, which was
feverish and irregular. At the lowest
the declines were Missouri Pacific SO;
st. Paul 35s; Union Pacific ga; Atehi-
son 27s: Kansas & Texas preferred
ga, while in the general list declines
of 1 to 2 points were very general.
The railroad bond market was dull
and heavy. Total sales par value ST.
1896 900
U. S. As declined 4 per cent. on the
last call