Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-10-16
THE STORY OF A DAY
with Details of the Fluctuations In
Prices.

tBy Associated Press)
NEW YORK. October 15.-The move
ment of prices in to-day's stock market
lacked elearness and eohereney at times.
Opening weakness gave way to a period
of strength which was met by profit
taking and the resulting reaction was
vigorously contested by aggressive man
ipulatlon of Pennsylvania. The whole
market finally gave way to weakness
and closed at level lower than yester-
day, net losses reaching point or over
in some of the leading prominent
stocks. The only aggressive force for
a rise in the market WAS what might
be called the formal invitation issued
by the arch manipulation in the street
to the public TO follow his leadership
in a speculation for the rise with a
suggestive glance towards Southern
Pacific as an available market leader.
This invitation made its appearance in
circular form yesterday with an appro-
pirate demonstration In the market TO
herald 1t. As the author has been
associated in the Wall street mino with
the organized support OF the United
States Steel stocks, those stocks shared
in yesterdays demonstration. but the
sequence to-day was less convincing.
Southern Pacific indeed started off
with a furry, and st. Paul made pre-
lminary advance of IA. Other STOCKS
to respond were few and the obvious
fact that heavy realizing was going on
in the Pacific group OF stocks and st.
Paul served Still further to disincline
the public to accept the invitation to
speculate. A movement in Pennsyl-
vania which developed later and which
carried the stock UP two points was
nominally based upon the heavy traffic
movement over the company's lines,
but thu rem entrance OF other associa~
tions of the author OF the invitation re-
ferred to with market movements OF
this stock aroused suspicion OF pos
sible connection on his part with the
movement. The buying was congested,
but so also was the selling, one broker
age house being credited with sales OF
10000 shares. The stock showed only
a fractional remnant of the extreme ad-
vance Last weeks enthusiasm over
The alleged plan of proprietary CON-
pany to hold control of Great Northern
preferred, Northern Pacific and Burllng-
ton. and to release large amounts OF
tied-up capital, has entirely evaporated,
as the release of this capital is seen TO
be contingent upon the investing public
taking the minority portion Of the
stock of the projected new company of
the hands OF the projectors. The re-
newed heavy demand for currency from
the cotton centres was q disturbing
factor in the late trading. There were
transfers through the sub-treasury of
$500. 900 to New Orleans a1d of $3D0,000
to st. Louis. On the other hand, a
rise in exchange at Chicago to Zoe
premium marked the cessation of the
demand from that quarter. There were
no payments for bonds by the sub
treasury, the belated settlement on that
account having apparently been COM
pleted and the government institution
has withdrawn $500, 600 from the mar
ket since Friday. The downward ten
dency in sterling exchange was checked
and London was seller of stocks in
this market. There was a somewhat
feverish speculation in Amalgamated
Copper. which lifted the stock over a
point, then drove it down points and
left ii with a net loss Of "a.
Railroad bonds were quite active and
generally firm. Total sales, par value,
$2,710.000.
u. S. bonds were all unchanged on
the last call