Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-05-03

SOME 9 REASONS ron Z n
NORFOLK q WESTERN AND cnEs-
= AFEAKE a OHIO BOTH SHOW
iias'iseA14t@ ADVANCES. s@Tg@

NORFOLK q WESTERN AND cnEs-
~ AFEAKE a OHIO 10th SHOW
/ 't'issss14t@ ADVANCES. &Tggg@
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NEW YoKK, May 2.AThe Atchison
stocks took the leadership of the mar
ket away from Union Pacific to-day
both in point OF. strength an. activity.
During the most Of the day the volume
of transactions in the two common
stocks ran 2 close race, but the dealings
in Atchison common and preferred cas-
lily outstripped those in the two Union
Pacific stocks. A heavy preponderance
Of trade total transactions in the whole
market eentered ia these stocks. There
have been very confident predictions
that the 'frst dividend on Atchison for
a half year would be 2 per cent, and it
is likely that large short interest was
accumulated in the stock by those who
had better information in the expecta-
ton that yesterdays l IL per cent diyi-
dend would bring out heavy offerings.
As a matter of fact the offerings were
very moderate. The character of to-
days ouying, however, could by no
means be safely attributed either to a
demand from shorts or to purely specu-
lative manipulation. The movement
was supposed to be due to new phase
of the struggle among the granger
trunk lines to secure for themselves
competitory advantages to offset the
Burlington deal. Officials of the st.
Paul railroad were quoted anonymous
ly this morning as breathing forth
threatenings of building new line to
the Pacific unless they were accorded
share in the advantages of the supposed
Union Pacific absorption. This corrob-
CRATES the current suDposition that the
great granger trunk lines feel them
selves at a technical disadvantage if
.ley have not an assured Pacific coast
outlet as well as an eastern trunk line
connection, and that all of them will
o0ole0 Va AdtCi Va hC-AC19uiO co W SoSui
these advantages. The movements Of
prices We're cited as giving evidences
that the buying of Atchison was for the
benefit of st. Paul and probably also Of
Rock Island. There was a disposition
to attribute the late strength of Balt-
more & Ohio to plans for making that
road the eastern outlet and the late
squirt in Norfolk & Western and Chesa-
peake & Ohio were supposed to indicate
alternate possibilities. The declaration
of the first dividend on Norfolk & West
ern of one per cent was, however, the
more plasuible explanation of the
strength of the last named stocks. The
feverish and erratic fluctuations in
Union Pacific were amply explained by
the new uncertainties surrounding the
present ownership of its control. There
were various rumors both to the effect
that the Vanderbilt interests had per-
fected their control and that the Harri-
man interest had secured the mainten-
ance of their control were looked upon
with suspicion by the uneasy specula-
tors as a device to further the contest,
and underlying all was their dread that
when once the actual control is decided
the high price will not be maintained.
The extreme range of the stock was s
points and the net loss rs. Atchison
advanced an extreme 115s and closed
within fraction of the best. st. Paul
is IA higher on the day, Chesapeake &
Ohio 31s and Norfolk & Western rs.
The stocks included in the Burlington
deal, the Erie stocks not excluded, were
all notably heavy. The heavy profit
taking and weakness of the United
States Steel stocks had large senti-
mental influence on the whole market.
New York Central was quite severely
handled and loses 37s on the day Elk
cept for the few special points OF
strength the market was on the who're
reactionary. The money rate was dis
tinctly frmer to-day, ruling at per
cent early in the day, and it was said
that a number of the banks were call
ing loans. The treasury figures,
which include the payment for the great
part of the gold exports. show loss by
the money market thus far of $685., 900.
The payment of the government inter-
est and of the blocks of government
bonds redeemed yesterday and to-day
do not figure yet in the statement, but
it is evident nevertheless that there
.Nss.