The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-08-03
FINANCE N TRADE
Tho Features OF the Money and Stock
Markets,

....H
NEW YORK. Aug. l.-To-day.s stock
market was dull and professional, the
only stock that reached even compare
tive activity being Sugar. That stock
also displayed the widest n%uctuatIon.
Early London prices came slightly
above yesterdays local closing. and
London was also a moderate buyer OF
Louisville * Nashville and st. Paul In
this market. The only DEVELOPMENTS
that could be considered to exert n legi-
Innate influence upon prices were re-
ports Of n spread in the area OF rate
cutting In the southwest and the
bank statement. The last mem
TONED exhibit was ~unfavorably dis
regarded by the room traders,
1t being claimed to show evidence OF
boarding money. Well Informed bank
ers declared that the contention was not
Justified. The opening prices were gen
orally higher on purchases for both ac-
counts. The market soon became irreg-
ular. ana finally on ~rcaliZations and
liquidation In the low priced shares
prices receded all along the line. The
downward movement was accelerated
by offerings OF heavy blocks OF Sugar
depressing Its price IN per cen from the
carly high point. The closing was at
the lowest points Mt general fractional
losses.
Conditions affecting tho values of
stock exchange securities have not ma
.terially changed during the week. The
street still attaches peculiar interest to
thcitone OF the limited market for Amer
lean securities In London, and ut least
upon one occasion the prices at that CEN
ire were generally believed to have been
manipulated on orders from this side.
The market during the early part OF
the week displayed acute weakness un-
der persistent bear attacks, assisted by
various untoward developments. In the
industr!als Sugar was depressed mo-
mentarily TO par. Inside support mp
pears TO be lacking In the more promi-
'nent shares generally, and the bears
improved their opportunities. The
losses ut the low level ranged from 3 to s
per cent in the general list, with the
heaviest concessions in the high priced
stocks. Traders changed front in the
last day or two. and although consider
able lrregularity was evident. covering
of shorts caused n rallying movement.
Manipulation Of the ludustriais was
very pronounced, Sugar being marked
up 6 per cent. Notable gains were made
by the coalers. Finally. realizing orders
resulted In sharp reactions and left the
list as a rule. showing substantial losses
as n result OF the week operations. The
sales We're 1904 shares.
The bond market ruled dull. but gcner-
ally higher. The feature of the week
was continued foreign selling and de-
cided heavincss in the high priced issues.
The sales we're s4,03l 900.
Government bonds We're a shade lower
carly In the week. but sti!tencd to about
last weeks closing. The sales were
s240.550.
Silver ccrti1cates~were dull and irrcg-
ular, closing * per cent lower. The sales
were sl5I 600.
Trading In state Issues was confined to
dealings of $4,000. South Carolina Non
f%undahlcS at | per cent.
Business In mining shares was on
larger scale than usual, with $40 shares
changing hands ut improvements, silver
particularly rose to n.
The total sales of stocks to-day were
66.51G shares.