Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-06-08
WIS DDu mi SLUGGISH.

(By Associated Press.)

(By Associated Press.)
NEW YORK, June I'm to-day's
stock market there were only few
points Of activity and strength and the
majority Of stocks were dull and slug
gish, moving irregularly up and down
under the varying operations OF the
! room traders. There were some large
transactions by the. brokers who have
been credited with acting for various
financial traders, but they were so
mixed on the long and the short side
as to add to the speculative confusion.
The volume of dealings showed a fur
Their falling off from yesterdays de-
creased total. The opinion prevailed
that the closing out of accounts earlier
in the week was in preparation for the
summer holiday season and promised
a period Of comparative dullness and
idleness in the market Whatever
| points OF strength were shown in the
market seemed to be due to individual
! causes. Louisville was notably strong
and the buying was accompanied by
talk of an increase in the dividend rate,
which was. however deprecated by in
| siders. Missouri Pacific and the South
western moved upward, excepting the
| Wabashes, which were affected by real
izing. The story required that Mis-
souri, Pacific is to be placed on Ave
per cent dividend basis later in the
| month by the declaration of lump
dividend, and that valuable rights in
addition are to be declared The move
| ment in Baltimore & Ohio seemed to
he based on reports OF the conference
between Pennsylvania and Reading Off
Gals, presumably to arrange measures
for the benefit of Baltimore & Ohio. The
| New York public utilities were gener-
| ally affected by hopes of relief from the
| franchise tax, and in addition Brooklyn
Transit put out a report of good net
earnings for April. Ihe Tobacco stocks
were the subjects of active speculation
| on the organization OF the Consolidated
| company. The stock were feverish,
| receding early on realizing but rallying
| on published assertions Of formation
! of an underwriting syndicate for the
new company, which would tie up half
of the proposed debenture bonds and
lyooy, fbQpo off hn orly az bo
mental stock show net gains of about
| point, American Tobacco 2ss Amer
| lean Snuff 8A and the preferred 27s.
| There were besides many usually ne
| elected stocks which advanced from one
| to five points without any news to ex-
| plain the movement Net changes as a
rule are not significant, the sluggish
| fluctuations not taking prices far from
| last nights level, although the extreme
| range from high to low ran from one
| to three points in the active stocks.
| Not much attention was paid to the
money market, but the call loan rate
| ran up to Az per cent in the late deal
| ings. On Monday the fourth and last
installment of 100000 is due on sub
| scriptions to Union Pacific convertible
bonds. Preparations will begin next
| week also for the payment of several
| dividends due the week after, notably
| that on Standard OIL The indications
| are that the cash changes to be shown
| by to-morrow's bank statement will be
| probably gain for the banks The
| firmness of the sterling exchange mar
| ket both here and in Paris, in view of
| the reduction of the Bank of England
rate and the easy discounts in London
! attract considerable attention. Remit
| tances on account of the next install
ment on British consol subscriptions,
which falls due on June Is, is factor
| at both centres. Paris seems to be
transferring large amounts Of capital
for investment in the London market
| beside New York is making prepara-
| ton to meet the June 80 dividend and
interest obligations in London. Be-
sides, London was larger seller of
stocks here to-day. The exchange mar
| ket was thus held firm at what was the
gold export point for the last outward
movement, but no gold was engaged for
export.
The bond market was quiet and ir-
regular. Total sales par value $685.
600.
United States bonds were all unchang-
| on the last call
1 Quotations closed bid:
Atchison ......... ...-..................- o,s4
| do preferred .........................- .tt3ls
! Baltimore & Ohio. .......................1 osl4
do preferred ACKNOWLEDGEMENTS. 96i4
Canada Pacific Observation-Disclosures. los
! Canada Southern Observation-Disclosures. 50
| Chesapeake & Ohio. Observation-Disclosures. Sos
| Chicago Il Alton OBSERVATION-DISCLOSURES. 1872
| DO preferred ..-....,........-..-- u
Chicago, Burlington & Quincy. ......... 1865
| Chicago, Ind. & Louis 3SA
1 do preferrpG d