Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-07-20
CLOSED WEAK AND LOW.
l.. 5. steel stocks Well Under Con-
troi-stocks strong ON Th~ursdny
We're Conspicuousiy Weak.

ere AOuSHhCuOuS
BY Associated Press.
NEW YORK, July i9.-The charac-
ter of to-day's stock market was much
the same as that OF yesterday. u
there was a conspicuous absence OF the
late enormous demand which lifted
Union Pacific yesterday in the closing
dealings. The volume Of transactions
was rather larger than yesterday, but
the market was nevertheless highly
professional. Much liquidation had to
be absorbed by those who had set
themselves the task OF supporting the
market and the burden seemed to be
too heavy to carry. Prices broke
through support In the late dealings
and the market closed weak at the low
est of the day. Even those stocks
which had shown strength during the
day had very little left to show in
the way OF gains and the stocks which
were conspicuous for strength yester-
day were conspicuously weak. The
stocks selected as props Tor the market
to-day seemed to be principally among
the southern railroads and the Gould
Southwesterns. Included with the lat
ter were Western Union and Manhat-
tan. Texas & Pacific was at one time
6 points over last night and there was
large buying in Missouri Pacific. United
States Steel stocks seemed TO be well
under control by insiders and
they were marked up sharply
over a point each during the period OF
strength In the market. The sustain
Ing force OF these advances, however.
was steadily taken advantage OF to re-
alize in the railroad list. Union Pacific,
st. Paul and Atchison were the most
conspicuous objects of the selling.
Southern Pacific at n time broke
away from the group and was marked
up to 53hs, apparently In pursuance OF
the design Of supporting the market
for realizing purposes. The device
proved only moderately successful, as
did others OF the same Character. In
the late reaction the decline in st. Paul
extended Il SIS; Union Pacific TO 5h;
Atchison to 3%. Much OF the selling
seemed to be prompted by the renewed
fears Of disaster to the corn crop, he
same motive being at work In the corn
market. The selling for western ac-
count was very large and was attributed
to important interests. The selling for
London account was another important
factor in the days market. 1t was most
conspicuous In the U. s. Steel stocks
but extended besides to others of the
internationally listed stocks. The days
total sales for that account were esti-
mated at as high as 100, 900 shares. This
development was a factor In the firm
ness CT sterling exchange In New York
and the easier one OF money In London.
The seeming dis~inclination to continue
the support OF the market by the group
of capitalists to whom spectators have
been looking for that purpose empha-
sized the disposition to sell. The weeks
movement OF money to and from the In
terror gives promise OF a strong bank
statement. The weeks large disburse-
ments of pensions, payments on account
Of gold deposited with the government
at Pacific coast points and some large
expenditures by the government on
other accounts has resulted In gain
from the sub-treasury ONCE OF SO, $780,
900. The express movement of cash to
and from the interior is estimated to
have netted to the banks as much or
more. The changes IN the loan item
are slightly problematicaol, the liquida-
ton early In the week possibly having
been offset by the large measures to
support the market.
The bond market was moderately act
i've and irregular. Total sales par
value $500. 200.
u. S. bonds were all unchanged on
the last call.