Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-10-17
PULLING AND HESITATING
Was the Definition of Yesterdays
stock Market.
(By Associated Press9

(Ry Associated Press)
NEW YORK, October 16.-To-day s
stock market reflected a puzzled and
hesitating mood amongst professional
operators who again made up the bulk
of the market There WAS a marked
disinclination to take on long stock
and some timidity about making con-
traces on the short side. Several spec
ial factors turned the tide toward de-
preston and net losses were the rule,
although they are not important in the
general list. An organized bear cam
paign against Amalgamated Copper
aided by much outlay of printers ink
unsettled the market early in the SEES
sion. The selling of the stock was by
Boston houses. The price fell at one
time 2ssc under yesterday and closed
at net loss of points. The break in
Amalgamated Copper interrupted an
incipient rise in Pennsylvania and its
allied stocks prompted by the report
of the sale of $20,000000 Of bonds by
the company. This was held to ac-
count for the large buying of stock
Yesterday. The effect of to-day's an
nouncement, however, afforded little
opportunity for profit taking on yes
terday's purchases although much in
terest was shown as to the purpose
which the proceeds of the bonds would
be applied to. AS the purchases Of
stocks of other railroads so far as Off
cially acknowledged by the company
has been provided for by the additional
stock issues, 1t was supposed that the
purchase of control of the Cambria
Steel Company was being provided for.
Bullish operators spread reports that
purchasers of Atchison were in con-
temptation by Pennsylvania, but there
was no response in the speculation.
The market showed tendency toward
stagnation during the afternoon until
a sharp raid against the southwesterns
late in the day awakened some degree
of activity at the expense of values.
Losses of from 1 to 25s were made
by practically all the members of the
group. Bear operators professed to de-
tect evidences of inside selling which
was attributed to the account of the
interest dominant in the group and
supposed TO be prompted by poor out
look for traffic on account Of bad crops
The money question continues some
what depressing influence. A transfer
through the sub-treasury to-day of $780,
900 additional to New Orleans adds to
the apprehension that the belated move
ment OF cotton will cause large require
ments in that quarter. The transfers
to New Orleans thus FAR this season
through the sub-treasury amount to
only 100000 compared with $7,42O.-
900 to this date last year.
Last year. however, the Galveston re-
lief measures were responsible for a
part of the movement. The renewed
currency movement, the Withdrawals by
the sub-treasury on account Of the sur
plus revenues aAd some special de-
-mand for Buffalo to meet a run on a
trust company there will all affect tbs
cases showing OF the banks this week.
This question is now canvassed as to
the effect on the loan item of the pur-
ehases of the Pennsylvania Company
bonds, the soft coal consolidation which
is in process of formation. and the
transfer of a great mercantile establish
ment which was reported this morn
ing. The emphatic denials by President
Hill OF last weeks rumors of trans
continental railroad consultations
was another chilling effect on the
speculation. The market was weak
until the room traders took their profits
By ssyessag tssss abort contracts. Sales