Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-01-29
Government bonds steady.
State bonds firm.

Government bonds steady.
State bonds firm.
Railroad bonds easier
The huge proportion of the dealings
in St Paul made it the dominant fac
Tor in to-day's markets. It's influence
was marked on a very few stocks
most nearly affiliated with it and the
general list showed a dragging ten
dency beth on the upward and the
downward course. The violent and
cratic movements in ST. Pau! kept
the market confused and unsettled fOf
the greater part Of the cay. There
were considerable gains established
during the early dealings and later in
The day prices fell considerably below
Saturdays level but the net changes
are for the most part small and some
gains are mixed with the preponder-
ant losses. q. Paul was ct one time
nearly points above Saturday and at
another time over 2 points below and
closed the cay with a net loss CT ia
On sales CT $4,000 shares. The inter
mediate movements were excessively
erratic ana feverish very Ho5icea-
Bile feature Of the trailing III the stocks
was the much heavier volume Of trans
actions on the ADVANCE than on the
decline. Very heavy offerings had to
be taken in fact, before the advance
was inaugurated, the price running off
a point from the opening under the
crushing weight Of the offerings and
very heavy blocks being taken at each
stage of the alyance. When the price
had touched 1885, the buying demand
. oh nd II
at any time afterwards equal to that
.o+ first hour, although there were con-
siderable reviyalS of demand from
time to time. On the down grade
from 1855 to 1924 the offerings did
not appear 20 be OF overwhelming
volume, but there was not sufficient
demand TO absorb them. The tip
sters this morning put out statements
In great detail of the completed plan
for the transfer of St Paul stock in
exchange for bonds. of the Great
Northern and Northern Pacific. 1t
was further announced that the plan
would be- officially published to-day.
Up to the close of business the prom
ised plan had not been published and
this was all the news of the day bear
ing on the stock. The St Paul move
ment was supplemented by strong
rise in Kansas and Texas preferred
and in Manhattan. The first irreg-
ulality of the market was caused by
weakness in the steel group, in which
the opening gains had been moderate.
The session of the directors OF the
American Steel & Wire Company To-
cussed the attention OF SPECTATORS in
the group. No decision was announc-
ed on the dividend question before the
market closed, but the stock after
selling down to 3S$. had a spasmodic
rally to Al in the final dealings. The
other steel stocks which had weakened
lin sympathy, notably Federal Steel.
did net have time to respond before
the close. 1t was a sudden stiffening
of Southern Iacifc in the final deal
ings also, but the closing generally
4 was heavy and dull. The cause of the
reaction in the market seemed TO be
confined to technical grounds, the
Spectators who bought SO largely on
Saturday on the strong bank state
ment selling to realize, and finding
very little demand to absorb their Of
ferings. London was a small seller on
balance through the usual channels,
but the further advance in, sterling ex-
change nad5t' evident that the home