The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-03-25
EINANCE AND TRADE
ThS Features OF the NIonsy aud stock
Markota.


ThS Features OF The Money aud stock
Markets.
NEW YORK, March 2I.-Money OF, call
easy at llsGl& per cent; last loan ~ per
cent; closed offered at ~ per cent.
Prime mercantile paper sIa64 per cent.
Sterling exchange firm. with actual bus
ineJs In bankers bills at 81 S7KS4 S7h
for demand, and at 81 g5&G4 Sc for 60
days, Posted rates 81 1904 S6h and
81 8G4 SSh, Commercial bills 81 Sax
Bar silver 6?Sc.
The decision Of the supreme court az
hrming the illeEalIty OF the Trans Mis-
AcuTt freight association under the Sher-
man antitrust law, occupied almost cx-
cluHvOly the attention OF the dealers Of
the stocks and bonds to-day. That
there was good ground for the appreheH-
sion expressed Of the effects upon values
Of railroad properties Of a decision was
obvious from the character OF some OF the
selling, but there was also palpable eX.
aEgeratlOn Of the fears OF the traders,
with 4 view OF depressing prices for the
benefit Of those short uf stocks. a contin.
gent reputed 20 be quite large at this
time. Tho extent OF the activity Of this
element and their interest in It was
shown by the lively movement TO cover
At the low point which worked u rally
with the close OF the day resulting In a
few cases In q full recovery Of the heavy
declines, The same thing occurred very
soon after the opening. at which the
bearH started into raid the market with
great energy and determination. judE-
ing from the reports that were kept in
circulation by this short Interest one
would have supposed that = wholesale
disruption OF all agreements 60 maintain
rates had occurred without the parties
even waiting to see the text OF the SUI
prene court decision, and that ell rail-
roads were entering forthwith upon
disastrous war OF rate cutting. The
Joint traffic association, on the contrary
has determined 70 maintain its existence
pending the appeal Of the case "a test Its
legality, which now stands In Its favor
by decision OF circuit court. There IL
Httle confidence expressed that TITS de-
clsion With sustained by the supreme
court on appeal. The opinion seems to
be general that neither the Joint trafilc
assoclatIonfnor any other railroad agree
ment d Hl94utGin rates and divide trqftic
can Eta1t the test OF a lawsuit under
this d6GiSiln- The action Of the Atphtson
and the Burlington in giving notice Of
withdrawal from the association. Of
which they are members fOreAhadowed
the dissolution OF those associations. and
made the Changers and Southwesterns
especially weak. the desire 20 sell all rail-
road stOCSsJ being very manifest. There
Is no DOUBT that large amount OF long
stock was sthrnwn on the market IN the
days trading and that owners OF securl-
ties take the mont serious view Of tire IN
hibltIon, against rate and traffic agree
nents contained In the supreme court
decision.
The GranEers and Southwesterns as
being Immediately affected, showed the
heaviest declines, as follows: e.
Burlington az; Northwestern "a; 81,
Paul 9: Rock Island 2h: Louisville &
Nashville ga: Kansas < Texas prefer
red ~; AtchiSon IA; do preferred ~;
southern preferred IL, and Omaha rs
other losses were: Canada Southern
1. CLEVELAND. Columbus, Cincinnati &
81 I,ouIs IL; Denver & Rio Grande
preferred IL; Illinois Central /; Sugar
*: do preferred IL; Chicago Gas ~;
General Electric IA; Lead i: Pacific
Mail IL; Tennessee Coal & Iron IN;
Spirits preferred IL, and western
Union per cent ,.,.,o
The Anthracite coal group displayed
ouifs surprisIng resistance to the de-
rrrsSIon in the market. only New Jer.
sev Central and Reading hrst preferred
Welding over fraction, the former l
and the latter ~ per cent. New Jersey
Central rallied 81 per cent at the close
nm the strength Of the Increase OF earn
Inpl shown In the February statement.
The activity became very marked IN the
cIoSInV dealings and there was quite q
Srra mble 10 cover. Burlington recover
ed 1. Northwestern Ia: st. Paul IA;
Rock Island IL; Louisville 4 Nashville
liz: Omaha III: AtchlS0n !; cleveland
Columbus, Cincinnati & st. LOUIS ~
sugar ~. and Tennessee Coal & iron
~ per cent, .-..I I, Tots
Shore Of per cent. with recovery.
Minnesota Iron lost and regained ~
Der cent. The exceptional shares whlch
showed a gain on the day. though II
was only fractional. We're: TOBACCO,
Cleveland Columbus. Cincinnati q ST.
Louis, Consolidated Gas. LackaWannA'
delaware K Hudson. Standard Rope
Missouri Pacific. Reading. Leather pre-
ferred and Wheeling 4 Lake Erie pre-.
ferred, The dealings were heavier than
on any day since last fall. the total
shares sold numbering 35bOOO' 30
RAILWAY UOluH Welt NulA- eNha'N
showed general concessions.
Governments traded lower.
The total sales Of stocks to-day WeFe
337 sos shares.
Evening Posts London financial
cablegram:
Except for Americans there was a
general rally In all the stocks here To-
JaV tI1e reasons being shOrtness IN
StOck and the ease OF money mt the set
clement There were vagu rumorS OF IL
ConproTnlse OF the Cretan difficulties
and a sharp squirt in English rails Oh
good trafIlcs.
Possibly the improvement may be
only transient and the favorable poll
tIcal reports may prove "a he oycrdone'
hut for the moment the tone Is decided
Iv cheerful. and the bears are Fastening
10 coyr. Consois were 1l2ls. The set
Element certainly shows that, IN spite
Of polItIcy. bear holders ara ienaciousIS
cilneIng 10 all the good stocks
Americans were Sat and closed al the
lowest. Contangoes In Americans are
abou: I per cent. The trust decision III
The United States. the action Of the sen,
nle towards tho arbitration treaLE. ana
@ss ''GonBIete