Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-05-25
FINAL Squirt SAVED THE DAY.
OTHERWISE TT WOULD HA sE BEEN
THE DULLEsT SINCE NOvEM-
BIER ELECTION.
TOBACCO STOCKS THE FEATURE.
STORIES OF THE GOULD-vANDER-
BILT-PENNSYLyANIA EKiiIT
STIRRED RAILROADS.
(By Associated Press.A

VI and activity in the stock
market was all that saved the day from
being the dullest in the amount of bust
ness lone since the November election.
AS 1t was, business was we'll down to-
ward the minimum, and was besides,
largely congested in a few stocks. The
tobacco stocks, American and Contin-
entail, We're the fetures of the market.
The volume of business in them grew
as the advance progressed, and all OF
h room traders. hungry for a stock
that would move easily, tailed on to
n movement. By bidding up prices
smartly they ascertained that very few
selling orders for the stock were In the
market above the prevailing price level.
These technical conditions were re-
sponsible for the movement of the
stocks SO far as any news that was
published would indicate. Something
is made of the fact that the new toaac-
co company which is being organized
has representatives in it who organized
an opposition company once before, was
absorbed in a short time by the Alneri-
can Company. The days gain register
ed for American Tobacco was 5 points,
and for Consolidated Tobacco Az. The
final strength of the market was due
to this movement and to the late az
c~entuation of strength in other stocks
which had showed signs of frmness and
strength earlier in the day. The weak
points were also pulled up, so that the
losses, which were at n time very
general, were either wiped out Or
greatly reduced all around. The Eries
the Wabashes, Missouri Pacific and
Atchison Were good points of resistance
All day. The story persisted that et-
forts were making to secur a trunk
line outlet for the Gould southwestern
railroads and Wabash; that the great
trunk line proprietors had protested
against this project and that it had
been threatened that Atchison would
be absorbed by the Pennsylvania in re-
taliatien. This story and its vsr.a-
lions will be found closely related to
whatever strength was shown in the
days market. The movement Of
Union Pacific was a notable influence
On the whole market, its break to IS
being the principal factor in the early
weakness of the market and its recov-
cry at the close, largely relieving the
depression. The forecast of a strong
bank statement, promising a recupera-
ton in cash by the banks of nearly
$4,000, 900, was a revivifying influence,
although there had been no lack of
money to loan. The fact that no fur
Their gold was engaged for export was
also a strengthening factor, not only
for its immediate bearing upon the
situation, but in its larger significance
as indicating the relaxation in the
whole foreign money situation. Yes
terday's large purchase of newly ar
rived gold in the open market in Lon
don ~ the Bank of England was the
signal that the pressure for gold at
continental centres had relaxed. that
the requirements in Paris for the Rus
sian loan had been satisfied and that
London was free to recuperate Its
money market and prepare for some
large future needs. This is a notable
relief to the whole financial world and
is incidentally a striking testimony 20
the strong position of the Bank OF
France, which has been able to provide
for the Russian loan with a much light
er recourse than was expected to the
foreign credits of the Paris money mar
ket. The cessation of the urgent de-
mand for Northern Pacific also increas-
ed apprehension. The result was an
active and firm close in the stock mar
ket after a day of feeble and desultoIy
fluctuations.
The bond market was irregular and
only moderately active. Total sales par
value s4,790,000
United States As advanced q per