The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-11-27

NEW YORK, November 28.-MoNEY-LoRned
down from 10 per cent, closing easy at 4
per cont Prime mercantile paper Ga7 per
cent. Sterling exchange weak at 81 SOI(. Sight
exchange 81 S3A.
GovERNMENTs-strong and actiye.
IntTs States g Of 1881,
Now
HeE Four and halla
N EeA
SuEEeocV
Bar STLvER-At $Il5.
RAlLHoAD ST0CEs-BOnds active and firm,
especially for ErieS, Kansas and Texas and
C'C ri. O. frsts Tho last named rose 10 81.
sTATE BoSDs-Dull.
sTocHs-The market opened strong and al.
Vanced n TX per cent, the latter for Della.
ware, LaCkawanna and Western, but the i'm.
proYenient was partly lost at the first board
In the afternoon speculation became buOyant
and under large purChaSes the whole list 70.
covered an advance OF y to 2 per cent the
Wabash, st. Louis and Pacific leading In the
improvements Toward the close the penernl
list reacted u TO | per cent, but In the final
sales the market bec0me strong with Wander.
hit shares and the Erie features. New York
Central sold up from l99N 10 1856, Lake Shore
from 1857 to 1854 Western Union from lO5IS
to lO19S, Erie from S6I[ to 8S3S and Michigan
Central from 933S to 06I<. Coal shares and
granger sto ks were also conspicuous In the
Improvement Areported transfer Of a large
oiocE OF the New York Central 10 a syndicate
OF foreign and home bankers, had favorable
influence on that stock and the market in gen.
eral. eN''
After the market closed II was officially au.
nounced that the negotiations which have
been pending for some time between leading
foreign and domestic bankers, represented by
Drexel, Morgan& d Co, OF New York. and ],
8. Morgan y Co., OF London, and William II
vanderbilt for the purchase Of $3.50 0 900 Of
New York Central stock, was brought To
successful conclusion. II Is understood the
bankers will take Sl5,00O0OO worth with the
option on $40, 100000, all at 100 Vanderbilt
retains very large interest in the New York
Central which, it is understood, will not be
sold, and he will also continue In the control
and management of the road. A general
agency for the Company will DO opcTcd in
London, with ]. s. Morgan 4 Co., for The
pHyment OF dividends and transfer OF stock.
Toe London interest will be represented by
tierrep0nt Morgan, who will soon be elected |
director. The Wabash system OF railroads
will be represented In the New York Central
Board by Cyrus W. Field aud Sulon Hunlph. |
reys. The parties to this large purchase of |
New York Central stock are understood to be |
August Belmont & Co., l.. Van Hoffman {; |
Co.. Drexel, Morgan 4 Co., J. d W. seligman
4 Co.. Winslow. Lanier & Co., Cyrus W. |
Field. Jay Gould. RuSsel Sage and Others.
The effect of this negotiation on the foreign
exchange market was quite marked. and to- |
ward he close Of the day prime bankers 60
day bi!ls were offered down to S0X, 1t being |
believed that large amount of bills
would be drawn sgLinSt the stock, most Of
which Is to 60 to London. The eff ct on the
Government bond market was favorable, it |
being believed that the proceeds OF this stock |
sold by Vanderbilt would lie partly invested |
In these securities and the remainder in West |
ern Union and Lake Shore. II 10 reported |
that combination will now be formed simi. |
lar to that OF the Pennsylvania Railway sys,
TEN, taking in the New York Central, Lake |
Shore, Michigan Central, Canada Southern.
Wabash, and Kansas City and Northern, and
perhHns some other connecting rolds, the |
New York Central to guarantee fair rate Of |
interest on all. Erie was well sustained un.
der the belief that Vanderbilt had secured
large interest In it before parting with the
great block Of New York Central.
For the forty new seats in the Stock Ell.
change, there werh sixty bids Of these ten OF. |
Isred $l4,OOand over, and fifty offered Sl8,.
D00 und over.
Tomorrow being legal holiday, business
will be suspended on the Stock Exchange and
in financial and commercial circles.
The transactions aggregated 4sO.OOO shares
y which lO,0O were Erie, 89.OO0 Lake Shore,
1000 Wabash. 90 600 Northwestern, 9O,0OO
IT. Paul, 4S,0OO Lackawanna, $500 New Jer.
.ey Central, 5000 Delaware and Hudson, IS
MO Reading, 10 600 Michigan Central, 1000
Union Pacific, 5000 G. C. & /. c., 1000 Han.
1ihnI AID s.. Joseph, 1000 Ohio and Miss.
ssippi, $1,000 Western Union, $500 Pacific
Mail, 260OO Wabash, st. Louis and Pacific,
y 900 Kansas and Texas. 4 900 Iron Mountain
0O9 Louisville and Nashville, 3,4OO Northern
Pacific. 5000 indianapolis, Cincinnati and
lafayette, 1000 st. Louis and San Francisco,
100 New York Central,