Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-01-18

State bonds irregular.
Railroad bonds irregular.
The state of mind of spectators in
stocks was one of extreme nervous
ness to-day. The cloud of distrust was
somewhat dispersed during the course
of the day and prices were laboriously
lifted to a level above last night, but
uneasiness required in the late deal
ings and the market closed with ur-
gent selling in force and with violent
and disorderly breaks in number of
important stocks. The excessive con-
fusion of the price movement during
the early part of the day served to put
spectators long stock in state of be-
wilderment. There was bold and DOW
erful manipulation used to support
prices and to dissuade holders from
selling. The extreme dullness into
which the market fell after the early
selling movement had been checked
was proof of the success achieved by
this manoeuvre, but when it began to
appear that the marking up of prices
had been simply for the purpose of af-
fordlng a market to realize on. the
pressure to sell became urgent again,
leading to the final break in prices.
The price movement was so irregular
and mixed at all times as to defy any
close analysis. The opening weakness
was most marked in the steel group
and the conditions among the great
steel corporations continued to excite
grave uneasiness during the entire ses-
sion. The conviction is taking form in
speculative circles that a war between
the steel companies is dangerously i'm
minent, which, if it comes, will demon
allze earnings in the trade
The tacit admission by inside au-
thorities of coming bond issue by
Federal Steel is accepted as foreshad-
owing a coming struggle. That stock
had further decline OF 31s and Fed
eral Steel preferred of points, on &C
count of this fear and declines in 9TH
Ell members of the group ranged from
to points. Meantime manipulative
support was effective in other parts OF
the list and Sugar, Peoples Gas, st.
Paul, Manhattan and a number of the
Pacifics and Southwesterns were lift
ed from l to 2 points. Then support
was accorded to the steel stocks and
the principal members of the group
including Federal Steel, Tin Plate
Steel & Wire and Smelling were lifted
sharply above last night. Meantime
there was realizing in the railroad list
and prices generally fell away there
with occasional exceptions which were
held up as support to the market. In
the final slump the whole list fell
again with very few exceptions below
last night. There were such violent
breaks as Az in b. & O., 4a in Man
haitian, 3A in Brooklyn Transit and
Great Northern Pacific preferred, SA
in Sugar and 21s in st. Paul and New
York Central. Many of the railroad
stocks were at the lowest when the
market closed. The statement of Pres
1dent Hill, of the Great Northern. that
he had never owned a share OF St
Paul stock in his life had a greatly un-
settling influence on spectators who
have worked in the conviction that
st. Paul had passed to the control OF
Great Northern and Northern Pacific
The declaration of 2 per cent. divi-
dend on New York, Chicago & St
Louis End pfd., where all the way from
~ to per cent. had been confidently
predicted, caused a reimbursement OF
ideas as to large number OF analo-
gous cases. The denial OF the rumor
that Metropolitan Street Railway bad