Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1882-09-28
FINANCE AND TRADE.

Money at sa9 Per Cent. Govern
nents Firm and Higher stocks
Heayy-Fleur Steady and Unchanged
Va heat Active but Lower.
NV York, September 2T.-Money at 4@9
per cent, closed at 4@5 per cent. Prime
mercantile paper 7a9 per cent. Sterling
exchange, bankers bills steady at 1929;
demand 4S71S.
GsvERNMESTs-Firm and generally per
cent. higher.
Elves extended. 1902
kours and-a-hah
Poc,, sss y, ;;cS 20
Edcinc Si1es OF loto...-....--.......... -.--.lco
RAILROAD BoNDs-Dull and without par
ticulsr chsnge.
STATE SECURITIEs-Neglected
SToCKs-The stock market opened strong,
but soon became rather heavy, and re-
NAMED so until near IL, from which time
until little before u il was strong. Soon
after u the market became heavy for the
general list and weak for Oregon and Trans.
Continental and Northern Pacific. In the
first half of the last hour the market was
steady and the prices advanced a fraction.
In the last half it was decidedly weak, and
the lowest prices of the day were made.
The weakest stock was Oregon and Trans
Continental, which broke TO 92A from 92H,
it having early in the day sold as high as
9H. This break was due to the announce
ment Of the Executive Committee, held to-
day. which recommended quarterly diyi-
bends, to be begun January l, be l y per
cent, instead of 2 per cent
Northern Pacific was alphabetically
weak, and fell to 4911 and 9ih, respectively
for common and preferred stocks. Next
weakest stocks were coal shares, which fell
A@l per cent. The remainder of the list
declined fraction, and the whole market
closed heavy. The foundation for the talk
about VaDderbilt's advancing United States
bonds to ease the money market is that
bank offered to borrow from Vanderbilt
100000 United States four per cent.
bonds which he holds, advancing thereon
the full market price Of the bonds, or
about $l2, OOO,O 900, and charging him for the
money so advanced low rate of interest,
1t is understood this offer of the bank was
part of q scheme to have the United States
internal revenue receipts deposited in the
bank, which would give the bonds borrow
ed from Vanderbilt TO the Government as
security for the internal revenue receipts
or the Government money thus left
with it. Two purposes would be served by
the operation. The first would be that the
money. instead OF being locked up in the
Treasury. would be diverted from its way
to the Treasury to the national bank, where
il could be lent in the market, and the
other, which would concern the bank alone,
would be the profits which it could make by
lending the Government deposits.
The EreRiRg Post says: "Our under
standing is Vanderbilt declined 10 lend his
bonds, which are all registered in his
name, and that the scheme has been aban-
doned." The following paragraph finds
publication: 1t is reported Secretary Fol-
ger stated this morning the government
would take what action would be necessary
to maintain ease in the money market.
When he returns to Washington he in
tends to look into the matter very thor
.oughly, and if the law will allow he will
recommend that the government shall loan
money to banks and take bonds for security.
Transactions, 300, 600 shares.