Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-05-07
Special to the Register.

6pecidl TO the fleSiSter.
NEW YORK, May 6.-The market
opened strong to-day under the lead
ership of large advances in London,
with st. Paul leading, at an advance
of 5 points. London bears were in a
frenzie. Northern Pacific common was
the leader. with Union Pacific good
ern Pacific has not had it's equal in this
entire campaign. The sales of this
stock were 329,200 shares. 1t opened
at ia, gain of 4 points over Satur-
days close, and in a few hours made
the unprecedented advance OF 10 points
to 1873. 1t reacted to 1853, closing at
1271a, a net gain of 171a points. The
advance was accompanied by reports
that the preferred stock would be retir-
ed and the common placed on per
cent basis. Union Pacific opened at
l25A, an advance of 21a points, going
to 1877, closing at 1243s, net gain over
Saturday of 1ss. St. Paul opened at
1888, record price, an advance of 31s
over Saturday, closing at 1854 a net
gain of l point Missouri Pacific also
made a new record, opening at 1141a, a
gain of points, advancing to 116, and
closing at 1879, gain of 13s over Sat
urday. The Southwestern group and
Wabash were all strong in sympathy
with Missouri Pacific, but no new re-
cords were made. The coal stocks
were also strong features. Pennsyl-
vania closing with a gain Of 1M, B. &
@. rs, Erie firsts rs, seconds l, and
common 1 over Saturday. Reading
onds II. and common I5s up. Chesa-
peake & Ohio gained / point and Nor
folk G. Western a. New York Central
made net gain of 27s. ChicagoTerm-
inal Transfer rallied sharply in the af-
ternoon, the common to 25 and the
preferred to 40, closing at "a and 4S re-
spectively. New York fractions open
ed at an advance in sympathy with
phe rest of the markets, but did not
hold the gain to the close. Manhattan
opened at 1N1s, closing at 1863, net
gain of Il, Metropolitan opened at
1705a, closing at 170A, net gain of II;
B. R. T. opened at So and closed at
S43s, a gain of / point.
United States Steel were only mod
erately active, 147,200 common and
$4,000 preferred being traded in. Com
mon opened from SO to "a and 81 prov
ed to be high, and 521s low, closing at
52%, net gain over Saturday of Is
Preferred opened at 100A, advanced to
1917, closing at 1904, net gain of "a i.
Amalgamated copper was more active
at higher prices. $4,000 shares changing
hands. 1t opened at 1913, an advance of
] 1s, went to 125, and closed at 12234 a
net gain of Is.
Money rates for call were at per
cent most of the day. After p. m,
the rate was suddenly marked up TO y
per cent. which caused the market TO
weaken, but it was soon dropped 10
Az per cent, which caused a moderate
rally at the close. The last loan xas
made at per cent.
A number of leading financial 1neE
are seriously discussing a proposition
to put UP the rates for call loans to e
per cent per day, the object being to
check the mad speculative tendency.
The hardening of rates at critical
time to-day was a result of this ten
dency on the part of loaners, and to-
morrow or next day it may be very dit
ficult to obtain cash except upon lend
ers' terms The outlook tomorrow Is
for another strong market, with posi-
bilities of some surprises in it.
Yesterdays Prices.