The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1890-11-08
FINANCE AND TRADE.


] uAAThVt"t
NEW YORK, Nov. 7.-toney on call tight, rang
ing from 10 IS per cent; last loan per cent;
closed offered At per cent. pr!ms mercantile
paper cas- per cent. Sterling exchange qule,
and weak at 81 7p>sai IS. Rales GOs.CiS shares.
The stock market to-day, especially durinu
tho forenoon and a portion OF The afternoon,
was weaker than at any time during the preseu.
decline In values was started, and II acted As II
the last iinsl tald vas ~ progress. Tho whole
long aud short sellers Wed with each other, ii
| seemed. TO bring prices down as quicklyas po1.
] slolc TO tho lowest level. The original cause OF
the stampede, on tho part OF tho holders OF long
stocks ia 70 be found IN tho action OF tho COVER.
nofs Of the hank Of England. who at a special
meeting held his morning advanced their min
| niun ratio OF discount from o to per cont, after
leaving 1t unchanged nj tho regular meeting
yesterday, 49, y. f|tE, stTI f3-r' III 7 7IT7'
Tho selling by London operators was very
heavy 1t the opening, aad domestic operators
construed tho HCtlon OF the Hank AZ forCshow inp
Y greater scarcity OF money here and probable
, ,oisnS eSp9tt o. gold 70 london ADD they
soon assumed larger proportions than have been
seen for months ia this market. The City Bauli
O. the same time aggravated tho situation TO ~.
insipg 10 lend on many stocks ,aad In TORE
tlSm, resulting In tho bidding up OF money 10
70 per cont, though afterwards when tho excite.
mont Ind been sllAyed 10 some degree Tho tAle
went Oft 10 legal figures, thus demonstrating tho
sact that there was no real scarcity OF funds.
The selling Went on uninterrupted aud with
constantly gathering force, the slight rallies
amounting to Interruptions OF tho downward
movement only, while tho bears added their
efforts to inctcaSc the general decentralization.
There was sort Of suppressed excitement, and
notwithstanding the transactions there was very
i!Hie noise, aud what was more remarkable III
tho face OF the marked declines OF tho past three
days, there were no failures 10 record. 80
Tho DOWNWARD movement confined until 10.
ward y. M, and Its volume may be measured
by The losses sustained TO that time, Pullman
DcAtiug the banner with decrease OF II per
cent. white Illinois Central followed WITH tx,
q. Paul, o: cleveland, Cincinnati, Chicago 4
y. Louis, "; Rock Island, ~: New England. |
w. aua others In proportion. ls -"
Some one bought isge lines Of Huton Pacific
STOCK held up. remarkably well. Sugar was also
Nrpns mud showed evidence OF good buyinp
one OF the features OF the day was the strength
exhibited by tho VAndcrbllts. Tho reaction was
sharp and material, Some stocks actually rc.
gainlhg all Of the carly losses while the weakest
STOCKS made large yains In the last hours trad. |
iue. Tue evidence OF inside support was very |
marked. Tho close. however, was weak. leaving |
most OF The list at material losses for tho dny. |
Inc list is almost Invariably lower the only ex. !
ception being Lake shore, with gain OF per |
cent, but Cleveland. Cincinnati, Columbus K |
81. Louis is down "a. Rock Island ", Ri. Paul
~ Sew England =, Illinois Ceuirnl Northern
Pacific preferred. Louisville & Nashville and |
i.aekawannG each ", Pacific Nail TX, Atchison
Y Hetth American each X, aud Pullman per