Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-05-11

NEW YORK, May 10-Rapid pro-
gress was made in re-estd!blishing con-
ffdence in Wall street to-day, and there
was a natural rebound in prices. That
is to say the fact of the rebound was
very natural after the extent o. the
declines OF yesterday, but the range Of
the recovery was surprising. Large
progress was made toward wiping out
the net losses which remained last
night after the recovery had already
set in on the exchange. In number
of stocks which were not acutely affect
ed yesterday, to-day's prices rose ABOVE
Wednesdays closing level, and in Mis-
souri, Pacific yesterdays net loss was
recovered with three points to spare,
the extreme advance reaching Is points.
There was a good deal of trepidation
still evident this morning owing to the
vague dread that there might be stock
exchange houses which would be I'M
able to meet their obligations after
yesterdays drastic experience. Tie
market was therefore unsettled and
feverish, even after the strong open
ing but when the official announcement
was made that the clearing sheets Of all
the members of the stock exchange
had gone through the stock exchange
clearing house perfectly and that al
their checks had been honored, a feel
ing of relief was manifested and stead
lily grew throughout the day. During
the latter part of the day there was a
resumption of what looked like spec
ulative movement for the rise led by
Union Pacific. The buoyancy of this
stock and the accompanying strength
of the Southwesterns was based upon
rumors and assumptions of the benefits
to accrue to Union Pacific from a
change in control of Northern Pacific,
which was still stoutly claimed by tae
Union Pacific party. Undoubtedly there
were very many speculative losers OF
great resources in the collapse Of
Thursday who retained their nerve and
determination and who set about to re-
coup themselves by new speculations
in the market. Other buyers were those
who had gotten out early in yesterdays
slump and who still saw a profit IN
getting back at the prices ruling to-
day. The bargain hunters were also on
hand in some force and there were
many cash transactions both in bonds
and stocks, representing their pur-
GLASSES. liilS OutGOutC VI was
pretty we'll assured when the news was
learned this morning of the settlement
effected with the shorts in Northern
Pacific on the basis of $3.50 per share.
This removed the overshadowing fear
from the market and the quotations Tor
Northern Pacific on the tape at $50
still further allayed the apprehension.
The stock sold at 200 for cash after
ward, but the progress of the settle
ment with the shorts at the offices of
the conflicting interests in Northern
Pacific prevented any further disturb
ances on that ground The measures
taken by the banks which placed heavy
leans in the market yesterday and
their decision not to call the loans
to-day completed the traaauilizing IN
fuenoes. The market closed strong a.
the top with feeling OF relief over
morrows holiday. The gain ex-
tended in Union Pacific to p, St. Paul
and Lackawanna 171s, international
Power 111s; B. & Q. II; st. Louis
Southwestern preferred 10A; Sugar,
Delaware & Hudson and General Eiec-
trio 10 and representatives of practic-
ally all the important groups from 0 to
10.
Bonds which were weakest yesterday
showed some wide reeoyeries, but 9TH
ers were weak. Total sales par value
S., $780, 900.
Z. S. new Is declined Il per cent. on
the last call.
Quotations closed bid: