Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-02-01

1liioH TdciHc - volz
do. DDS (bid) 1897
West Shore As (bid) Fundamentally
Wisconsin Central lists ......--..... SS1s
State bonds inactive.
Railroad bonds strong.
The stock market continued large
ly given over to manipulation by spec
ulative cliques and operations by pro-
~fessionals. There was a constant shift
ing of activity from one group OF
stocks to another and successive ad-
vances developed here and there all
day. Prices of the favored issues We're
inclined to drop back as soon as the
manipulation was shifted from them,
but the final outburst of activity and
strength in the Pacifics and Southwest
erns lifted many stock to near the best
again. The stocks under immediate
manipulation at the close We're, how
ever, about the only ones that closed
at the highest. The central figure IN
the days market was Southern Paclnc.
The pool, which has been absorbing
this stock for some time past appar-
emily succeeded in clearing the Held
of a large part of the waiting orders
to sell which hang over the stock n
accomplished a tardy advance in the
price. The dealings in the stock were
on an enormous scale and the extreme
advance was 23s. The fact that this
advance carried the stock across At
Gibson seemed to arouse the emulation
of the friends Of that stock and they
pushed it vigorously upward an ex-
IRENE 2k through very heavy offer
! ings. The Pacifcs generally sympa-
thized. The announcement of the plan
for the absorption of Mobile & Ohio
. by the Southern Railway Co., caused
a Jump in the former stock OF 70 on
comparatively light transactions, as
the company's capital is a small one.
The Mobile & Ohio department set the
SPECTATORS upon a search for securl-
ties of minor railroad companies which
would be in any way available as feed
ers or connections for the great rail-
road systems of the country in the
operation of the policy for extension
of interests. The roads having Nor
gan affiliations were prominent in this
connection. Chicago, Indianapolis &
Louisville rose 6 and the preferred 10
points. There were gains of from l to
3 points in the Chicago Great West
ems, Cleveland, C. C. & st. Louis
sticks. the Iowa Centrals. T Moines
& Fort Dodge, st. Joe & G. Ind Island
first preferred and the Wisconsin Cen
trails. None of these were fully main
tanned.
Yesterdays strength in the steel
stocks continued at the opening but
was not maintained during the day.
| There was more or less realizing in
evidence among stocks which have
| had their previous rise this week and.
the market continued Irregular all
day. To-day's ~Sub-treasury statement
reflects the payment for the gold
| withdrawn for to-day's shipments and
makes the net loss by the banks to
the government institution for the
week thus far $2,950, 900. The move
| ment of currency from the interior is
reported lighter than last week, so
that no such favorable bank state
ment as that of last week is expected.
The money market, however, contin-
| ues so extremely easy that not much
attention is paid to the bank state
ment. Sterling exchange lowered
nea the point to-day which would
| yield a profit on a shipment of gold
to London. Demand sterling was
sold at SO, if it rises above that to-
morrow it is the general opinion that
gold will go to London on Saturday.
The statement of the bank of Eng
land to-day shows that that institu-
ton has continued to borrow from
the market ever while meeting de-
mands from the market for loans.
It's failure to reduce the discount rate
therefore indicates a purpose to draw
gold from New York to London if pos
sible.
Business in railroad bonds contin-
ued large, the Central of Georgia and
Southern Pacific issues being promi-
nent. Total sales par value $5,225,-
600.
Up. S. IS coupon and new As ad-
vanced a per cent on the last call.