Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-05-03


Facilities for Obtaining Reports
of Orders Gfven-Business was
Again Refused Yesterday.
Special to the Register
NEW YORK, May 2.-Adjectives and
superlatives are no lcnger equal to de-
scribing the market. The room rec
ords are being smashed daily, not only
in the aggregate number of sales, but
in the high prices scored for VARIOUS
stocks. Everybody is asking: Where
will this thing stoe?" Brokers and
operators, who have long been bulls,
take profits and either stand off and look
at the markct, or are tuning bears,
only to be forced to cover at a loss. ard
again buy 20 sell at an advance to :e-
cuperate these lossas. The lnarke. Is
certainly becoming dangerous, and
great discrimination should be used.
The prevailing sentiment is still bull
ish, and will probably remain so, with
occasional reactions, till these immense
railroad deals are finally completed, I'M
less the unexpected shall occur. The
railroads that have been leaders all
week are still the feature of the mar
ket. Atchison common was the spe-
cial feature to-day, the market open
ing. at 771a, and advance of 13s. IT
made clean gain OF 10 points closing
at 81. The advance was accompanied
by heavy buying orders from London.
AS reported several times in these dis
patches, when this stock was around
70, so was freely predicted. The fig
ures are now placed at 100. The esti-
mated earnings for this year, after pay
ing per cent. on the preferred, will
have about s per cent. for the COM
mon. 1t Is rumored that three Pennsyi-
vania directors will be in the next
board. The preferred was also strong
in sympathy, opening at 10312, advanc-
ing 2 points. but lost the gain, closing
at 1885 ,e,,a,
Union Pacific opened at $50. After
advancing to 1873. it declined to 127,
again advancing to 1872, closing at
12812. Northern Pacific ives very
strong and active from 1874 to 1865,
closing at 1141a. Missouri Pacific was
extremely active around 1921, closing
at 1895. The buying OF Missouri Pa
cif1c was considered most excellent, and
should this strong market continu, to-
morrow, this stock may be the leader.
Rock Island, Texas Pacific and the
"Katies'' were strong and active at
q n,,, NC Tba lore
were all strong, B. & O. reaching Ill,
closing at 1921, a net gain for the day
OF one point. ... .-..-.-......-.--.-
About O'Clock Norfolk & Western
made rapid rise to 5734, a gain of
3$s, closing at J67s. This was immed-
lately followed by an advance of 3
points in Chesapeake & Ohio, which
closed at SO, also a gain of points.
New York Central touched 40, the
record, but sold off, closing at 165ss
New York fractions were Arm at yes
terday's prices, but sold off at the
close of the market, Manhattan CLOG
ing at 128, loss of u. Met. closed
at 1921, loss of IA, and B. R. T.
closed at 851A, loss of rs.
United States Steel stocks were not
leaders to-day, except on the decline
The common opened at SAY, the high
point, declined to 52%, and closed at
531s, net loss for the Cay of lss. Pre-
ferred opened at 1919, 1011a proved to
be high, sold down to par, and closed
1901.
Western Union opened especially
strong at 1914 to SO, as against 96A
close. 1t did not hold the advance,
however, and closed at 96ss. There is
said to be strong pool in Western
Union to advance the price. 1t is be-
lieved that Keene, acting for the pool
in United States Steel has been a
heavy seller for several days, and that
steel stocks will not receive much sup
port from that source before a greater
reaction. Nevertheless United States
Steel are considered by conservative
investors to be about the safest thing
in the market, as they are sure to re-
ceive good support on much further de-
cline, and will ultimately sell much
higher. '----- .-s
Union Pacific should be purchased on
all reactions. and held for 150 North
ern Pacific is another stock that will
bear watching, and on any further re-
cessions should be bought.
st. Paul was one of the strong fea-
lures of the market to-day, reaching
III, a record price, closing at ITS, a net
gain over yesterday of "a.
The market showed evidences of
heavy realizing in various stocks, I'M
der cover of sundry good advances
Brokers again declined fractional lots
and limited orders. and there has been
considerable trouble to get prompt re-
ports, as specialists would not stop to
make them. Out-of-town brokers were
also much delayed on account of the
congestion of the wires. The telegraph
companies are simply swamped, and
number Of important specialists are sick
and few have been compelled to go
out of town for rest and recuperation
The pace is too swift for humanity to
stand There is talk of holiday. The
tendency of the money market is to
tightness.
Total sales to-day 2,s2S, 100 shares.
~ prIr