The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-12-24
FINANCE AND TRADE
The features OF tbs Money AMI Stock
Markets,

Markets,
NEW YORK, Dec, 23,-Money on call
ruled down from 35percent nskedt0 3per
cent and closed az per cent, Prime
mercantile paper 4tsQ5n per cent, Stcr-
ling exchange Arm, with actual busi-
ness In bankers bills at 81 SSdi ssh for
demand, and 81 SDisG4 S9G for sixty
days; posted rates 81 SS46iS0; and 81 NO
tri 90Ia commercial bills 81 S6K, Bar
silver G6isc; silver certificates G6AV
Gle,
The all important consideration OF
CiIectlng the stock market to-day was
the decision, arrived NJ by the clearing
house committee, NJ meeting on sun
day ut the house Of President Tappen,
OF the Gallatln National Bank, and
cabled nj midnight to London, 20 rec
Ommcnd that the issue OF clearing
house loan certliicatesSe made at once,
II necessary There Is excellent author
ity for the belief that this timely action
turned the sentiment inlLOndon TO the
bull side OF our securities, and, lnclden-
tally, stcmmed the semi-panic here.
The very disproportlOnate engage
ments OF gold for shipment to Europe
on Wednesday To the previous large es-
Inmates, were also attributed 10 this in
fuCnce. The days operations eNhlb-
tied q decided and wholesome contrast
10 the panic Of Friday and Saturday.
The volume OF business was well dis
tributed, but the dealings shrunk TO an
aggregate OF about $4,000 shares below
Fridays grand total. The muln inter-
est before the opening here logically
conferred In the London prices for our
securities, and as the cables recorded
advances up tOSA per cent In 81 Paul,
forecasts OF good rally In the local
market were confidently made. II was
also known that large buying orders
hud been received for foreign account
TO be executed In this market Accor-
dinghy, amid considerable excitement,
the initial prices We're moved rapidly
upward, the advances IN the first few
minutes ranging up TO per cent In
New Jersey Central. The rise had been
sudden, 20 RS to prevent the fuliillment
OF many Of the London orders, and after
the first quarter hour, realizing sales
checked the Improvement Sugar ana
Susquchunna q Western preferred sus-
tained losses Of ga Western Union 2N,
and Southern preferred, ST. Paul and
New Jersey Central 2h per cent. The
reaction was short lived, but the subBc-
guent dealings Were irregular. The
ward around p. M, a feature being the
execution Of an unusually large amount
OF small Investment Ordifs for cash
purchasers This was also, II will be
recalled, potent factor In ending the
1895 panic. In this movement, the best
prices OF the day were made, US u rule.
The gains ut the ton figures were:
Pullman. 8; Rubber preferred, Sh; Con-
solldated Gas anu Alton s. Tcrre
Haute. s: Chicago Gas. Z Lake Erie 4
Western preferred, 6is; Rock Island,
ca; I.acl,awannh, Metropolitan Trac-
tldn and New Jersey Central, 9; Cord
age guaranteed, *; Louisville q New
Albany preferred. 81: Colorado Fuel,
69,; ST. Paul. Az; Sugar 4; Burlington,
So, and Northwestern, IL per cent.
Covering OF shorts was large on the
general rally and was also induced by
the comparatively light engagements
OF gold. amounting to only 100000,
II had been announced that the assay
office would be closed Mt noon tO-mor-
row, and this encouraged the expecta-
ton that the exports would be limited
10 that sum. Late In the day, however.
the order was countermanded. and thus
a full day viii be allowed TO would-be
shippers OF the precious metal. Most
Of the large gold houses, however. have
expressed unwilllngness to ship at this
time. The call money market was err
ratio, and ~ high Us u per cent was
paid on moderate line OF money. Sue:
cesslvely lower figures were quHed
eventually, and money was onered
freely at per cent In the late dealings
and closed at 3 per cent The success
fil completion OF the enormous clear
InES OF Friday and, Saturday without
Important financial embarrassment,
excited decided favorable comment. A
single failure. and that small one,
was announced on the New York stock
exchange. An equally unimportant
suspension occurred upon the Consoli-
dated exchange. The opinion that an
issue OF gold bonds Is imminent, and
probably before the end Of the present
week, is general In banking circles. The
market left on strong and close to the
best prices OF the day.
The speculation In bonds was again
OF large proportions. tho transactions
aggrcgating S3,2Oi.OOO.
Evening Posts financial cables:
London-5 p. m.-Amorican securities
were less panlclgy here to-day per-
hnps but with no material changes.
The fluctuations were violent, and at
the close they were about the lowest.
The rash TO sell bonds is still very
great. All the other markets were fiat
to-dny. especially Brazilians, on sales
from Paris The settlement In mines
begins Tomorrow. All the continental
markets were demorallEed
pnris-Thc bourse was unsettled to-
day, closing fiat
Government bonds were weak and
iTih per cent lower, owing to d belief
In new government loan.
State bonds quiet.
Railroad bonds strong.
The total sales OF stocks to-day were
403s03 shares.
BoSp, ASn sr1eS qunrlrioN-1l'o'Eo Mn.