The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1865-08-08


ton of fall u per cent. in commercial
bills. Those drawn by Measrs. Rowland
4 AspinWall and other firms qalte ns
well known are Commercial" bills, and
Il Is certainly by no means remarkable
that rsnfitters will give TO such the
slight margin mentioned. The great
mass of these md a market with relgu-i
lar foreign bankers, who remit at their
own risk and draw their own bills
against them for the precise amounts
called for. The tax-and stamp on these
bills, on this side, and stamp and COM
mission-on the other, very nearly equals
y per cent. and the rate Of difference
between Commercial" and 4bankeFsH
bills in this market, OVER this II per
cent, is the bankers profit for his r1sk
and labor. The extreme difference, as
viii be observed by the daily quota
lions, do not indicate this prOht as eX-
ceeding from = to 1-l6 of one per cent,
an amount too small for any business
which Is measured otherwise than by
millions. Importing merchants, scat
tered over several miles in extent, and
through the great cities of the Union,
do not know where to seek for "cOm-
Inercial'' bills, and have not the means
of deciding upon their Solvency. Those
having such bills seek in vain for inn
porters who need at the moment, or,
needing, find the amount offered too
large or too small, and in consequence
the best which can be done is TO procure
the best price possible from foreign
bankers. This depends, as all must see,
upon actual knowledge of names Of
dTdWerS, or upon confidence reposed in
personal representations of their good
iaith and SolYency. This must result
il the difference mentioned. =
The future Of gold engages a Large
share of public attention, the whole as
FFf I'm, E.Ena
within the month. The price, as Will
be seen, has steadily advanced, under
heavy disbursements and sales by the
Treasury, and the combination for rise
continues to control the market. They
are said to have been 50 strengthened as
to enable the party to purchase IA very
large additional sum during the last
week, amounting probably 10 several
millions. An unexpected demand has
sprung up in the South, for cotton, and
il has sold freely in New Orleans at AZ
The Mexican question, also, is exHrt-r
ing H silent but powerful influence, and
the future price III questiOn'Of much
and doubt. Bnt the IinaI sOlu-
ton, AS all see, Is in the price OF our gold
bearing bonds in Europe. The latest
quotation il about TX, and with 5-2O's,
at lCG in currency here, gold at ~, and
sterling exchange at 100, the cost in
London Will pay Il profit On their ex-
lIOrtntiOn and sale IN that market. AS
long, therefore, us Europeans are free
buyers of J-2D's at 20, and over, il is
impossible for gold to permanently ad-
Eahci. much above the present rate
But indications induce the aDprehen-
sion of a huctuating market on that
Slde, and the utmost constituencies is.
eYinced on the arrival of each steamer.
The range of opinion, since our last.
has greatly wIdcned, and many
now predict "a higher price thai,
sixty before the close of the wear.
The opposite opinion does not appear
to De so firmly held. Tile Legitimate
daily demand for customs and cotton.
does not vary much from tlIree-fourths
Of million per day, and if this is
by "A slight speculative
feeling, large decline need not be an
ticipated.
The second attempt to connect Eu-
rope ana America by telegraph, will re-
suit i'll success or fuilure in few DAYS.
y falr use of the line, at "A fair rate, will
be of inculculable advantage to the
of the world, but the facts
seem TO be iInperfectly understood.
Ihe enterprise is understood to have
been commenced, under an agreement
with the British government which
guaranteed the company eight per cent.
on a pital of three millions, and in
sages was not to exceed two shillin0S
ana six pence per word. But these
moderate terms, ii is announced, have
been changed to u tariff which is sim
ply. eNtortiOnntc, and unless reduced
Will throw all the advantages, into the
hands of II select circle of heavy specu-
lntors. As Mt present understood, n
message of twenty words, address, date
and signature included, will cost ego
sterling, and 81 for each additional
word. AT that rate simple question
ana answer will cost some 1910, our
currency, which will exclude ali par
ties connected with the more common
pursuits of business.
When interest on advances is men,
TONED, only those of legal tender money
is intended. If gold, stocks orbonds are
S0Id short, and advanced, interest is
charged ut their actual street y;,lne
nom time to time. Generally tliev cam
be had for their cash value and often
less, but some three weeks ago gold was
IN II close corner" and advanced 10 u
OF one per cent. per day. Now, and for
some days past, it is in the reverse no
sltlon, and can only be EMPLOYED as
collateral for paper, which costs from
three to six per cent. per annutn. in adj
dition to the gold. Erie stock is and
mas been III the same position, costing
sometimes largely over its value. bnt.
these are eXceptiOnable cases, and only
mentioned to avoid misapprchension.
me street rate is we'll known, and can
ut any time be fixed by reference to-
bankers books for months or wears
back. B1RCu- NTITpp3y 4, ~
Boarding Wanted. -