The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1894-03-07
FINANCE AND TRADE.
Tho Features OF tho aIouey and Stock
Mnrkcls.

SN~N-
Markets.
NEW YoRK. March 6.-Money on call easy Mt
per cent last loan at per cent; closed at
per cent Prime mercantile paper jajis per
cent. Sterling exchange quiet aud steady nj
81 S6Aai $50 Silver certificates 5ST,lIgl;c. The
total sales OF stocks to-day We're Isl. 90 shares.
Avery sharp come. was turned on the stock
exchange today. and In getting around It sew.
cral speculative outfits were badly damaged and
narrowly escaped total disaster. There was
nothing in tho quiet, orderly opening Of bust
ness that presageI the exciting events which
occurred within three.quarters OF an hour As
was 10 be expected. the first prices msIc were
below yesterday figures. and sugar which had
male the greatest advance, showed the most
weakness. opening AtG decline Of 4 Der cent
Some holders OF the stool; started to take profits
and few t!InOrOuS bears sold on the lu.ln.
market. bringing the price down 10 81. Then
by cShthS and quarters the price Of SugRr
moved Up gradually to %. MEANWHILE the
snort interest was covering cautiously, for
there wRS nothing In the situation affecting
sugar 10 account for this abnormal rise slvG the
heavy buying which came from all around the
pool, mud twas not natural TO expect break at
any moment
But tho break came and buying stop orders
were mel with orders which had been executed
10 dawn on the bcatcd shorts that "SGucc&e'
WINS in progress and they rushed In TO buy on the
best terms they could. Now came the climax,
and moving per cent al Il time 9S was touched
vs., ~. 9gt7 and 100. the excitement being in
tense at this time. Far seemed 10 he the goal
which the mnnipulaiOES Of this corner" had
set for themselves, and with equal npidIty the
stock broke TO ~. \ rally to @3iI was quickly
made: All this had been accomplished before
II O'Clock. and BY noon. when The price had
dropped 10 %, MI trRUe OF excitement had died
ont During the afternoon the shares SnECcd oil
steadily. and In tho late dealings had rCcrdcd to
9OIt closing NJ QOi9, IL decline Of 81 per cent
from the best of the day. leaving only galn OF
u per cent. on the days transactions
sugar preferred. after an opening decline OF !!
per cent at 81 sold up TO -, react.
street that hear short Of 5000 shares
Of sugar common was forced TO settle at
100, and that other short contracts were settled
al tue same figures. Certain 1t Is that those
Who were short Of the stock were for the moment
al ne mercy OF tho maninnnors o! the deal
and had TO sue for terms. Tho Keeue CLIQUE Is
given the credit for the operation. which was
one OF the ncatest engineered on the stock
board in some time. The general market opened
fraction Lower. and IN the early dealings the
active list reacted FAX per cent. the latter Louis
vile & Nashville. while Lead broke . ncr cent,
but quickly recovered hni the loss. the other
shares. which had reccded also. making partial
rally. The experience Of the shorts in sugar
rendered them tllnid, and they began 10 cover
their lines generally. which caused All npprec!a
ton In values NIL around. the induStrias show
luz most lnrScly In the advance. notably Chicago
GnS D!stilllns and Lead. Western Union was
also prominent In the improvement which
ranged from i 10 Dcr cent. With She break
In sugar the rest Of the indusiriAls and the rail
why list bccnme heavy and n reaction occurred.
In which most Of the advance was wiped out
The speculation during the afternoon WAS
weak IN tone, and except Mt about O'Clock
when an upward turn wns taken. the tendency
was toward lower range OF values. The deal
ingS were Irregular IN the last hour, but In tho
main heavy. and the market closed weak with a
majority Of the active list az per cent lower
than NJ the close Yesterday. The latter Lead
white 81. Paul md Rock Island are down / per
cent and Iowa Central preferred !. per cent.
some lew shares show O fractional advance on
INC gay and Lake Erie and Western preferred