The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1886-12-16
THE DAILY MARKETS.
Money Market.

Money Market.
New YoRK, Dec. 16.-Money on col
was extremity stringent with active de-
msrd, ranging from 10 per Rnngm to
percent diem and interest. The last LOAF
was made at percent aud closing offer ed
at | and interest. Prime mercantile paper
! to5 Sterling exchange dull but firm al
81 SOA4 S9t.
New Yorx, Dec. 15.-Goverumen
bonds dull aud weak. State bonds dull
and steady. Over ono million shares wa
the total busineSo in stocks to-day, whieb
has never before been eQuallsd in tho his
tory Of the exchange, and but, seldom ap,
preached. The panioy feeling Developed
In come Of the low priced shares In the
past two days spread 10 the more cub
stsntial stocks, and the pressure TO soll ex.
Ceeded anything ever aseH In the Board
Room. The bears hogan 10 attsek at the
opening, hut orders to cell for both sides
OF the account were overwhelming, the
only desire seeming 10 be TO get out de-.
mands from brokers, for more margins 70,
NAMED unanswered and closing out salea
we're q large proportion OF the business
done.
The attendance at tho board was greater
than ever seen before and every broker
nearly had orders TO soil at the market,
The excitement was Intense, tho feeling
bordering closely upon panic. The for.
elgn buying aided to check the first de.
cline before the END Of tho frat hour, but
the pressure was again renewed, and
Stoke which had held up well under the
drst slump then gave way with rush.
Toward the end Of the session both bulls
and bears became alarmed at the magni-
tude Of the decline and buying orders
we're freely given out, resulting in a
marked recovery over the entire ilsl. II
was also reported that several influential
operators who have been credited OF late
With desire to sec o material decline had
begun to buy. This induced free covering
OF shorts which helped the final rally.
The money market worked extremely
hard, the rate running up to % high as
percent PER day.
The New England was ono OF the CHIEF
factors, the selling Of Boston interest be,
ing renewed with spirit this forenoon
when provoked by short sales to bull the
New York element, and the stock broke
very badly. Reading also, notwithsIand,
ing the publication Of the plan OF Teorgan,
izltion, broke 10 points. Qnly oue fixture
WAS announced on the Board, although
TulnorS Of others were thick at one time
The opening wag extremely weak, declines
from last evenings figures exceeding i
percent for large number OF active stocks
while Reading was down q percent. Do.
Clines in the Arst few moments ranged or
to 4 percent. Toward the Ond Of firsi
hour q slight rally occurred, the GranEers
Trunk lines and Union Pacific displaying
considerable strength. The market was
feverish and irregular, however, and an,
other slump soon followed, New England
and Reading leading the decline.
The extreme activity was largely de,
creased after II o'clock, accompanied by
Blight decreases In stocks. Tho downward
movement, however, wag again resumed
Manhattan assuming the lead.
In the last hour general rally took
place and material advances over he
lowest figures were recorded. Tho market
closed active but firm al recovery. Jersey
Central 10 the only stock on the active llsi
showing an advance, its gain for tho day
being I. New England lost 81; West
Point, o.; Reading, 81; Manhatton {
Tennessee, coal and iron, 8 each; Omaha
4 !; Missouri Pacific, 81 Canada Southern
81; LNckawanps, s. Hooking Valley, 81;
Pacific Mail, st; Michigan Central, 3, aud
others from l to Spercsnt. Transactions,
81, 0Ss,434.
Railroad bonds were completely over
Swallowed by tho excitement In the lhart
market. The trading was devoid o.
interest,
Petroleum opened firm Of COZ, weakened
aud sold steadily down on heavy sales K
90i, rallied shRrnly near the close anC
closed strong st07t, Sales 1857 600 barrels
6TooH QuoTATIoNs-Olosed bid: 8 pol
cent bonds, 1909; United slatss 4is, 1881
United States nsw 4S, 1905 Pacih,
1S6; Alton & Tore Haute, 80
do preferred, 81; American Express, 100
B. U. r. & NJ, 55; Canada Pacific, 09s
CansdA Southern, 50 Central Pacific, IA I
Chesapeake 4 Ohio, 81 do frat preiertet
Ia; do seconds, o.; Chicago 4 Altol
lao; do preferred, 1907 q. B. 40, 1874
10, 81. L. 4 Pittsburg, 10; do preferred
l97i o. 8. 4 O., AZ; Cleveland Ool., 0a
Delaware 4 Hudson, 1901; Del, Lack.
Vest, 1g5It Denver 4 Rio GrSudO, SlA
Erie, SUI do preferred, D9l; Eatt Tenf
l4ai Harlem, 2lO; Houston 4 Texas, 81
Illinois Central, 1870; Ind, y, 4 WesL
49, KarSas 4 Texas, S0si Lake Erie