Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-04-26


yesterdays extraordinary transactions
in that stock, which in themselves led
to some liquidation owing to the sus-
picion aroused that they were designed
to cover heavy profit taking in other
quarters of the list. There were fur
ther developments Of strength to-day
as a supplement to the Union Pacific
| movement and the strength of the mar
ket was more generally diffused than
at any previous time this week. Tie
manner in which the market received
the formal announcement of the terms
of the Burlington merger, had an en-
couarging effect on sentiment. There
was little effect on Burlington itself.
which moved narrowly by comparison
with other stocks, but was very firm
all day. Considering the long contin-
ued and large advance which the stock
has had since this transaction first be-
gan to be discussed and its wide
spread influence in causing other ad
vances in practically the whole mar
ket, the firmness of the stock at the
highest level in its history was sur
prising. One of the favorite maxims
with Wall street traders is to sci. On
good news Burlington's quiet firm
ness on the confirmation of its good
news argued small holdings of a pure
ly speculative character awaiting reah-
cation. The sentimental effect was
marked, owing to the warnings which
have been coming from influential
commission houses for some time past
that transportation threatened the
stability of the position in the stock
market. For the first time this week,
the bears RETAINED from their final at
tack on the market, and there was
not the food of realizing orders which
have been a feature of the last hour
OF each speculative day this week.
The fact that the buying demand was
considerably relaxed did not seem to
encourage the bears to any aggressive
efforts, although there was a distinct
ebb of prices in the final hour on profit
taking for the day and final prices
were considerably below the best ex-
cept in few cases. The most conspic-
uous movments of the day were dis
tinctly the outgrowth of the current
conviction that the perfeeting of the
Burlington deal will be followed by
similar arrangements on the part of
other railroad systems as an offset. The
grangers, Pacifics and Southwesterns
therefore played a prominent part in
the trading. The marked strength of
some of the eastern trunk lines was
supposed to be associated with the
movement of the western lines. Thus
the stock market gossip attributes the
large buying of Atchson to a design
on the part of the Pennsylvania to con-
troll a Pacific outlet. Baltimore & Ohio.
as a subsidiary company, was even
more acutely affected than Pennsyl-
vania. The rise in Atehison extended
to AZ in the preferred to 8, in Balti-
more & Ohio to 5A and in Pennsyl-
Vania to IA. The advance in North
ern Pacific was resumed after a lengthy
period of comparative quiet, apparent
ly on the theory that it was entitled to
rise with Union Pacific, itself was at
one time ~ over last night and twice
receded below last night, closing with a
] net gain of only a fraction The
strength of Southern Pacific was due
to the supposition that it will share in
any advantages which accrue to Union
Pacific. The Official denials which were
given of many of the rumors OF yester-
day and to-day were without the slight
est effect on the market. Special
strength was shown by the Chicago
Terminal transfer and Colorado Fuel
stocks at advances of So to So with
out news to explain it. Smelling
broke Az on the announcement of an
other injunction against the stock is
sue proposed to take up the Guggen-
helm interests. The stock rallied 215.
The ease of call money preeluded any
anxiety over the money market
The large buying of Union Pacific
controvertible bonds continued and the
market generally was strong. Total
sales par value s7,1o5, 900.
L. s. refunding Is declined X and
the IS registered Il per cent on the
last call.
Quotations closed bid:
Atchison ......... 7eTsMo. Pacific .1g7ss
do pref ......-. esss isMobile & Ohio. slls
Bait & Ohio. .10la& NJ. K & t.. 81.
do pref ........ sis4 DO pref ..... eS1s
Can. Pacific -. a534 n. Jers. Cent...l57
Can South 49,. 74i4 n. York Cent. .152ss
Cnes. & Ohio.... 47ss MORT. & West. 53x
Chi. CT. West. a do pref ........ Ssh.
Chi, B. & O.. 1853. North. Pacific ..105s4
Chi. l. & L...... Sc do pref ----.... 30