Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-04-23

support, taking the market away from
the bulls. who were eagerly taking
their profits. Tho relapse FROM the
high point was very violent in some
stocks and the level OF the whole mar
ket was carried well under Saturdays
close. The violence of the decline in
vited some quick profit taking by the
bears, whose covering demand caused
a few sharp rallies but the general
tone was weak at the close. Except
for the slump in Amalgamated Copper
at the opening the market started of
with every appearance of continuance
in full swing of last weeks active spec
ulation for the rise. Gains of to l1a
on initial purchases of from 1000 to
$4,000 shares were shown by num-
Der of the leading active stocks, includ-
Ing st. Paul, Union Pacific, Missouri
Pacific and Pennsylvania and Southern
Pacific was rushed up 21s. The last
named stock was a conspicuous figure
in the dealings all day and even after
| the general market had commenced
going to pieces the price was advanced
to 5S24 which was 5ss over Saturdays
close. st. Paul, after various fluctua-
lions, rose as much to IT'S. There were
periods of strength also among the
coalers, the local fractions, the South
westerns, Sugar and some other indl-
vidual stocks. Pacific Mail was rushed
up to GA apparently in sympathy with
Southern Pacific.
The strength in the Southwesterns
was on the renewed talk Of combina-
ton including Chicago & Alton and an
/ entry into Pittsburg. These extreme
advances came after the opening gains
had been pretty generally wiped out
under the flood of realizing, which has
been the feature Of the morning deal
ings on every day succeeding a notable
advance. It was very evident that the
bull leaders were using every endeayor
to turn the market upward in order to
revive the outside speculative buying.
Eut they did not succeed in reviving
general strength at any time. The up
ward movements were not accompanied
generally by any news and were based
almost wholly on the argument that
the price paid for Burlington warrant
ed by contrast much higher prices for
practically all other railroad stocks.
The bulls sought to make capital OF
the advertised invitation for subscrip-
lions to the new British consol issue,
as arguing confidence by bankers in
the. future plenty Of money, but the
sharp rise in sterling exchange rates
in resnonse 70 the large subscriptions
said by the bankers having them in
charge to be received for the loan de-
tracted from the force of this argu-
ment. Call loans did not rise above five
per cent, owing to Saturdays strong
bank return. The profit taking on
purchases made in anticipation of that
statement proved larger than the new
demand attracted by it. In the late
relapse in prices st. Paul dropped
points, Northwestern 5, B. & o. AZ,
Mon Pacific Az, and large number OF
the active stocks from l to points.
Burlington held well at point or more
over last night. The price of this stock
having made an index to warrant the
advance of the whole market, it was
well supported. United States steel
stocks were weak throughout the day,
and showed net losses of u for the
common and IA for the preferred.
The bond market was active and
broad, but the price changes were If
regular Total sales par value, So
$50. 900.
United States bonds were all I'M
changed on the last call.
AtnhiSon 6Sl5i 4NTohiie e. Ohio S21h