Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1901-01-06

NEW YURk, January o.--Specula-
tore jumped into the stock market
this morning and put prices into state
of violent effervescence. They quick
ly SKINNED the froth at the top level
of prices to take profits and attracted
$50 large following to the selling side
THAT the sensational opening gains
were mostly wiped cut before the close
and in all cases greatly reduced. After
| a day of violent excitement at exceed
J ingly wide fluctuations the market
was decidedly easy in tone at the close
and at a level generally below last
night. There were some important ex-
ceptions and there were number of
! spasmodic rallies of weak stocks on
towering by shorts. 1t was specula-
tors day pure and simple and what
ever SUBSTANTIAL considerations may
have been behind the buying move
ment were all completely lost sight
If in frenzy of speculative excite
hent. No story was too wild or in
fredible to gain ready credence. The
(, growth Of the conviction that st. Paul
Is to pass to the control of the North
ern Trans-Continental lines has made
the speculative mind open to almost
Ianything in the way of rumors regard
Ting railroad combinations. Capital
lists who have been influential in the
st. Paul deal are supposed to nave ad-
ditional far reaching plans. These
supposed plans were made the basis of
to-day's extraordinary movement. The
authorized announcement before the
close that ]. p. Morgan & Co. had Sc
cured control Of the Central Railroad
of New Jersey in the interest of the
Reading company offered some basis
for the rumors current. The Reading
stocks were not prominent in the open
ing squirt of prices, the first preferred
mounting points, the second prefer
red 3b and the common 67s. The
extreme advance in New Jersey Cen
trail was 81. In the heavy buying at
the opening there were advances also
of points in Missouri Pacific, 319 in
st. Paul, ga in Erie first preferred, 25s
in Erie common, 3 points in Erie sec
ond preferred and "a in Rock Island.
Gains of from l to points were
numerous all through the list.
The eagerness of lie selling to take
profits caused sudden and violent de-
clines, successive sales in some cases
clipping half to point from prices,
until they were carried back to last
nights level or below Meantime
there was growing weakness in Sugar,
Tennessee Coal, the Rubber stocks and
some other industrials. The feverish
excitement on the floor Of the exchange
was indescribable. With prices in a
state of wild fuctuation, the sense of
insecurity became overwhelming. VIC
lent advances were followed by wild
relapses and as sudden fccoveries. The
evident instability of prices increased
the disposition to- sell and the favor
able bank statement was taken advan-
tage of to further unload. ST. Paul
reacted So from the top, New Jersey A.,
Northern Pacific 31a and Pennsylvania
5A The Reading stocks saved for the
day net gains of to points, the Erie
stocks Ito 3. Baltimore & Ohio 33s,
New Jersey 2S4 and Missouri Pacinc
rs. Otherwise there was nothing i'm
portant on the side of gains and the
list presents a ragged line of net
losses.
Railroad bonds have not escaped the
reactionary tendency of stocks and
have not shown as vigorous a tendency
to recovery as stocks
United States new As declined | per
cent; IS coupon III; do. registered 2;
refunding Is rs and old IS and IS "a
below the ruling bid week ago.