Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-06-06
SOME n|DE DREECHES
IN PRICES SHOWN AT THE CLOSE
OF THE STOCK MARKET
YESTERDAY.
CLOSING DECIDEDLY WEAK.
! .DENCE ALL DAY-BEARS BUY
ING FOR COVER.
CIV Associated Press.)

marked at one time during the day
diminished decidedly after a while.
When the check was first decisiveiy
established, there was a notable falling
away in the volume of dealings, but
there was resumption of activity be-
fore the close, this time on the selling
side, and the closing was decidedly
weak with some breaches effected In
prices. The progressive decline in the
strength of the market is probably due
to the completion OF realizing profits on
various heavy lines OF stock. This
profit taking was clearly in evidence all
day, every demonstration OF special
strength in individual stocks being tax
en- advantage of to prosecute the sell
ing elsewhere. Stocks which have
shown the greatest strength recently
were naturally most affected by the
realizing. 1t was current report tnat
much of tine buying to-day and TOT
some time past represented covering
of very heavy line of short contracts
by an interest which took the bear side
OF the market last week in the incipient
stage of the rise, arguing that technical
considerations called for reaction at
that time. The sustaining advance
since is said to have driven this inter-
est to cover at large loss. The clos
ing out of this bear account also re-
moved an important sustaining inf1u-
ence from the market and contributed
to the vulnerable condition, which in
Vitod ronnwo1 attack fO
sthe bear ranks. The sharp advances
scored in number of insignificant low
priced stocks during the earlier part Of
the day pointed clearly to manipula
ton in the interest of the realizing pro-
cess, but there were also many notable
points of strength developed in the
market in high grade stocks. The most
sensational upward movement was in
Rock island. The late squirt in that
.ock to 175A had momentary in
huence in stiffening the list after it
had touched the low points of the day
to that time, but as soon as it was
perceived that the Rock Island move
ment was without effect, the selling was
renewed with redoubled force. The ad-
mission OF new interests to the direc-
tory to Rock Island was pretty clearly
foreshadowed, but the extra stock issue
was an entire surprise to the street.
The movement in Atchison was more
gradual and on larger dealings. Ru-
mors OF lease to Union Pacific per-
sisted and the admission to the direc
tory OF member Of the banking firm
whlch represented the Northern lines
OF RACINE railroads was regarded as
slgnlncant OF the progress being made
toward community OF interest in that
territory as a result of adjustment of
the Northern Pacific quarrel. Atchi-
son extreme rise was Az The story
or missouri Pacific's control of South
ern Pacific and rumor of the exchange
OF Missouri Pacific stock for the Dem
yer & Rio Grande were an influence in
that group Of railroads. Pennsylvania
was affected by the published opinion
OF an executive officer lately returned
from Europe of good prospects for the
coal export trade. Executive changes
IN the Erie We're taken as foreshadow-
ing Improvements in operation The
strength OF Illinois Central was based
on comparison of its low price with
other railroad stocks in the same cate
cory. Amalgamated Copper suffered
from the granting Of new injunction
against its proposed INSCRIPTIONS. Adj
vances of from 1 to 4 points in a num-
Der of low-priced railroads and indus
trials were unexplained by any news.
The advance In Canadian Pacific and
Its affiliated lines was designed to lift
the stock in proportion to the advances
or other stocks of Northern Pacific
lines.
Inc pond market was irregular in
sympathy with stocks. Total sales par
value $3,515,000.
U. 5. bonds were all unchanged on the
last call. VIZ