Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-03-27

4=+4%
Standard Rope and Twine 6s..,..
Texas and Pacific
do 2nds ibid. g
Union Pacific /. ivo7s
wabash lists ........
90 znds .-.s.s..... .s1lv
West Shore As .ll512
Wisconsin Central lists ............... 90A
Virginia Centuries d)............... ~
State bonds irregular.
Railroad bonds irregular.
Stocks-The recurrence of the story
of a northwestern railroad deal coup
ling Northern Pacific and Burlington,
was the occasion Of an extraordinary
and impressive upward movement in
the late stock market to-day. What
v e may be the validity of the often
removed claims OF a trans-Continental
arrangement for the benefit of North
ern Pacific and Great Northern, it was
clear enough that the recovery in the
general market was due to the precipl-
tate covering OF short contracts, which
were put out with great freedom and
boldness by practically all of the trad
ing element on the exchange. The
attack on the market by he bear ele-
ment had met with inviting success and
they had broken prices throughout
practically the whole market. There
was some show of strength in the early
dealins and an apparent attempt to
renew a bull movement, but 1t soon
became evident hat the attempt to
advance prices was no longer In such
powerful and capable hands as has
been the case durin much of the re-
cent bull speculation. When the bears
found their attack no longer contested
they offered prices down very boldly
and made inroads of between n and
two points in practically all the active
stocks in the list. The grangers and
southwesterns proved themselves es-
p~ecially invulnerable, in view OF the
large commitments for the long &C
count which have recently been made
in them. Northern Pacific itself was
forced down nearly a point, but Bur-
lington was held above last nights
level throughout. Missouri Pacific,
after being lifted to 1924, fell back
~. The local traction stocks were
notably weak, declining from 2 to IA,
and there were especially notable de-
clines in the industrial list, Tobacco
falling at one time 3As, Amalgamated
Copper 25s and Sugar 2 points. Some
of the usually quiet stocks which have
enjoyed recent extraordinary advances,
fell back sharply. The steel stocks
shared in the general weakness and
many of them dropped from one to two
points under last night. 1t was after
nearly the whole session had been
consumed in this process of extension
of short accounts that Northern Pacific
4,,o1~NaI Tho hn0r re UaIsQ
completely routed and found the
supply of stocks very small, bidding
up prices on themselves by rapid
strides.
There was an almost complete re-
coyery in the general list and North
ern Pacific surged upwards SIS points
to 91M, a record price. The rise in
Burlington reached AS. 1t was the
current belief in Wall street that a a
ton was favored by the capitalists
who are heavily committed to the pend
ing great syndicate transactions, oW-
ing to the apprehension that n de-
mands of the animated speculation up
on the money market threatened to ex-
haust the surplus supplies. The steady
upward course of sterling exchange
gave good ground for the expectation
that gold might go out at an early
period. In fact, the report was cur
rent that actual arrangements had been
made for shipments on Saturdays
steamer, but it is probable that ster-
ling exchange will have to rise an ad-
ditional fraction before exports Of gold
will be profitable. The days report OF
s~ub-treasury operations showed a gain
by the sub-treasury at the expense of
the money market Of over q million
dollars, making the absorption by that
institution since last Friday $2,S5,OO0,
with no prospects of any relief from a
continuance of the drain during The
rest of the week. The possibility was
~canvassed of an anticipated disburse-
ment of the May LIST interest on gov
eminent bonds, indicating the current
uneasiness owe the money market out
look. New York exchange at Chicago
fell an additional fraction. Neverthe-
less the money rate itself was not dis
turbed, call loans remaining at about
the recent level.
Railroad bonds continued active n
irregular. Total sales par value $4,720,-
600.
U. S. old As advanced Is per cent on
the last call.
81 r. -