Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-10-26
BULLS HAD HARD WORK
To Hold Up the stock Market Yes
terday.

lBy Associated Presso
NE" YORK, October 25.-The bulls
had hard wor.. TO sustain the market
to-day and the efforts to continue the
advance were frustrated by realizing
encountered. The eoalers continued 10
move upwards this morning and there
was a revival of the bull movement in
st. Paul. but the heavy realizing which
had been in progress during the week
under cover of the new points of
strength has aroused suspicion that
Inc whole movement was nanipulatiye
and designed TO unload stocks. A num-
Der of speeial weak points added to
the difficulties OF the bulls
and the money and exchange
situation showed the necessity OF eau
ton for those depending on call loans.
The whole market turned heavy before
the closing and was in that condition
at the last The days net changes
were reduced for the most part to in
significant proportions. st. Paul rose
at one time points, but its net gain
is only 2as Peoples Gas fell an ex-
IRENE 2as on the continued selling in
duced by the franchise tax difficulty
of the Illinois Supreme Court allowing
taxation on the stock valid. The stock
received inside support and responded
to the argument offered by its sup
porters that increased appraisement
wou.u be likely to lower the tax rate.
The stocks net loss was only y. The
New York municipal stocks broke
sharply, apparently in sympathy with
the Chicago stocks, declines running
from ia 10 3s. amalgamated Copper
was rather dull, but ruled below last
nights price In spite OF the firmer
market for raw copper in London. The
coalers had little left to show as gains
at the close of the day and the changes
in the general list are very irregular.
Another jump in foreign exchange hau
a disturbing effect on sentiment,
as rates are now brought to leVel
near TO the gold export point
for Berlin and Paris. Exchange eA-
perts affirm that no loss would occur
on a shipment ct to-day's rate IL Is
obvious also that the requirements ot
those centers are not yet sat'sheu.
Paris took another Si.000,o0o iroIn Lon,
don Today and sterilns al berin leii
a.aln. The Londun discount rate VS.
pulled up to near the pank rats, Whien
would give opportunity TOT an advance
in the bank Nlale TO be rest aiming the
outgo of gold. The conditions thus
promise additional pressure on New
York. The wheat exports for the week
are considerably below those OF last
week, thus lessening the volume OF eA-
change. and the cotton movement Goes
not seem to replenish the supply OF eA-
change bills. The preliminary state
menI of the cash movement by the
hanks foreshadows a weak bank state
ment tomorrow. In spite of the pay
ments by the sub-treasury on acooun'
of gold deposited at Pacific coast points
amount .ng to S2, 900 600, Tn t inst..utioi'
has taken from the banks net ba.ance
of 81 Gas. 900. The net loss to the IN
terror, on the direct express movement
Is estimated at less than million, ~
Guiding a shipment of nearly $5,ooo.oo
Ia philadelphia on account OF the pay
,nent by the Pocahontas Coal Company
for the Flat Top Coal Company. Inc
change in the loan item is proolemat-
ical II is supposed that borrowing IN
the local market for repayment OF for-
eign loans has proceeded this week
but at least one of the leading banks
has been a heavy lender on call on the
+ stock exchange. reversing its recent
prevailing policy. j.
Railroad bonds were less active III
sympathy with stocks and the specula-
tive issues we're inclined to react. 10
tai sales. par value, 2,325, 900.
United States IS coupon advanced a
per cent. on the last call