The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-09-28
FINANCE AND TRADE
The Features Of the Money mud Stock
Markets.

NEW YORK, Sept. 2G-Moncy on cali
steady nj 4 per cent. Prime mercantile
paper nomInally, 7GS per. cent. Ster-
ling exchange steady with ectual bust
ness In bankers bills at 4Si
for demand and iSlkTiSlat for 60 days.
Posted rates, iS2aiS3 and 4SiE4iSjis.
Commercial bills iSOi2. Bar silver SOS.
Mexican dollars. jOisc.
The stock market was moderately no.
tiveto.day and was strong In tone, al
though the movement OF prices showed
some !rreGulnrity. This condition was
due to realization OF profits and 10 the
elimination OF n large amount OF the
short interest during the past few days.
For the fourth time In succession fore
casts OF 4 favorable bank statement
were utilized 10 advance prices, and for
the first time, the statement uf averages
came up to expectations, an Increase OF
$5,67l,650 In the legal reserve and of
$@,392,60O In deposits being noted. EX-
ports on bank figures took exception.
however. to the contraction OF Sl,3iS,20O
In loans. The opening was strong and
higher under heavy purchases to cover
shorts and a moderate inquiry for long
account. The improvements were the
more important In the industrlnls end
international shares. The upward
movement continued during the first
hour, buying by the HrhitaSe houses In
ST. Paul advancing to 1917. The gains
In the general list were almost ImpOr-
tant with the exception OF Manhattan,
which yielded per cent. Toward noon
the bears made n determined drive at
Sugar on reports OF a falling of in the
demand for the product and eXpeCta-
ton OF reduction In the price OF the
refined grades early next week. The
raid, together with long offcrlngsdepres-
sed the price per cent and the general
LIST lost fractions in sympathy, few
Of the lndustrialS making more note
worthy declines. The closing was err
ratio, but showed general slight gains.
The market for the week was iunu-
enced by 4 marked expression OF the
awakening confidence in the financial
and general business outlook. Large
further arrivals OF gold, and substan-
DIAL new engagements Of the metal de-
spit. m advance 10 3pcr cent In the Bank
OF England's minimum rate Of discount,
reports OF the starting up afresh OF stIs-
pended Industrial and manufacturing
activity In various sections OF the cOun-
try, and decided relaxation OF the recent
strlnScncy In time money and mcrCnn-
uted toward n cheerful speculative tenn
per. The revival Of activity In the Iron,
steel, leather and other trades facilita-
ted efforts by specialists to advance
prices, but the broadening tendency OF
the stock and bond markets also reflect
ell increasing commission business, both
speculative and investment For the
first time In several months the banks
are quoting call money as low ms per
cent. on a parity with the street rate.
and time funds are ohtainahlc on good
mixed collateral ut G per cent fiat for
all periods up to one year. Prime MGR
camille paper Is in better request both
by local and out OF town banks and Is
readily discounted AT 7GS per cent rs
against SOLO per cent the week pre-
rlous. The engagements OF gold from
the inception OF the movement 10 date
aggregate Si3O59.OOO. md the actual ar
rivals In the week were 100000 IN
Guiding small amounts to Chicago, Bos-
ton and San Francisco) bringing the
grand total To $3;.926.J5O The full
gain to the treasury gold reserve VIII
not appear In tO-dny's figures, but the
actual reserve of nearly $40, 100000 Is an
encouraging showing. An Interesting
development OF the week was the arrival
of $2,l25.O00 In gold at San Francisco,
from Australia In payment for large
consiGnments OF wheat 10 the last nam
ed country. Another significant Item Is
an advance In ocean freight rates from
this seaboarI to the highest figures
quoted In long time. The demand
for high priced Investments bonds was
fairly brisk. The street believes that
the short Interest Inns been very largely
reduced on the advance OF the past three
days. and some Of the bull leaders who
initiated the upward movement are I'M
derstOOd TO have realized and that
stocks to have an extent passed from
strong to comparatively weak hands.
The favorable general conditions may,
however cause new aCcesSiOns to the
bull side and carry the market away
from the professionals. The market
closed slightly below the top figures,
but show gains OF TO per cent In the
active list.
The aggregate sales were l.l9G,SSi
shares
Railway bonds displayed marked
strength on investment and speculative
demand. The market brondenrd con-
siderably and heavydrclIncs occurred In
certain issues.
The sales were S7lO7,OO0.
Governments were active md strong
with transactions In the new fours nj
81 II. The dealings aggregated Si05, 900,
Silver certificates were active and
slightly easier on sales OF 100000
BONDS AND STOCK QUOTATIONS.,
New L. s. ~ rcGistcrcd..... ..... .....1lG7s
Mo- Ia