The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-07-24
FINANCE AND TRADE
TIL, Features OF the Money aud stOsl
Markets.

NV ANANtNf AsatF W -'"''NF ~ $3.50
steady at l per cent; last loan per
cent; closed offered at pes cent, Prime
mercantile paper S9l per cent. Sterling
exchange firm. with actual business In
bankers bills at 81 81. for demand and
at 81 ssh for sixty days, Posted rates
81 s79l s71s and 81 Ss9i $50, CONNER
clal bills 81 s5la. Silver certificates $3.50
Js9c. Bar silver 59Ac. Mexican dollars
iGhc.
Discussion as to the probability OF in
creased earnings benefited Burlington
2ls per cent and all grangers TO the eX-
| tent, on an average, OF one per cent,
rise, although wheat suffered an approx
Innate average decline OF two cents, with
decreased engagements for export for
the day. 1t was argued, however, that
when the farmers were enriched by the
good prices expected for their products
they would so expend portion of the
proceeds that transportation channels
would be benefited by heavy return
traffic as well as a large grain tonnage
to meet the demands OF Europe and
South America. While their motives
are hardly dislnterested. some bulls
likened present conditions with these
prevailing seventeen years. back and
would have It believed that the boom
Of SO-S1 may be duplicated in '97-9S,
London bought some 10000 shares
against 1900 sold yesterday, These
purchases may have been due to the
fact that tomorrow Is a holiday In
London and the traders there will have
only until Monday to cover or carry
over stocks into the new account. The
first OF next week will disclose London's
true speculative position, showing
whether recent transactions there have
been short sales OF Americans or IL
quotations by professionals as British
advIces are that the public for the first
time In year or two is becoming In
terested In American securities. Trad
ers here rather Ignored the engagement
OF 81, 300, 900 gold for export,as they were
more than balanced by receipts Of the
previous metal from the Klondyke re-
g!on and impending imports OF gold
from Australia 90 discharge obligations
for American grain imported became
known. The customary end OF the week
profit taking sales were offset by for
eign and commission house buying,
Foreshadowlng decided shrinkage in
imports on the enactment OF the tariff
bill, the weekly imports decreased for
the week third of million, being the
smallest amount In many weeks. Sugar
fell off V per cent only on an effort to
have It appear that the sugar schedule
but lnadequately protected the COM
pany and that the company was to ex-
perience increased competition. The
stock rose 3lS poitns, trade Journal
predicting that insiders would disclose
riches and prospective profits after the
tariff became law. Subsequently Su-
gar lost half point on its previous
gain. The fact that the company had
advanced the price OF soft refined sugar
may have had some bearing upon the
2% per cent net rise In the common and
ia in the preferred. Southwestern rail-
ways on daily increased earnings, and
Investment securities were In brisk de-
mand. Some shares which figured con-
spIcuously In the recent advance lacked
support and lost a fraction. including
Chicago, Greatwestern and Chicago
Gas.
Tobacco was benefited 10 the extent
OF IL per cent for the common and 3
per cent for the scrip by the refusal OF
New York states executive TO call an
extraordinary term OF the criminal
branch of the supreme court to retry
the tobacco case. General Electric sus
tanned a loss on an adverse legal decis-
lon concerning the trolley arm patent,
part OF which 1t subsequently recovered
on statements by officials OF the COM
pnny that the decision was OF no con-
sequence, leaving the net loss fraction
al. Rock Island rose n point and half
on the stories that replacing its 54,0O0,-
900 extension and collateral fives' on
lower basis was In contemplation and
on the assumption that the dividend
rate might be restored to a four per
cent basis as It was the first road to
reduce its dividends in the recent de-
preston. The principal gains Of
point or more. not higher than enum-
Grated were Consolidated Gas 81: De-
trolt Gas 2; Minneapolis & st. Paul and
ST Louis first preferred 2; Morris & Es-
sex 81; Adams Express, Brooklyn I'm
lon Gas Lake Shore, Pullman, Oregon
Navigation preferred and United States
Express.
Trading in bonds continued In consld-
cradle volume and further substantial
Improvement occurred in many Issues.
Purchases for continental account en-
braccd the more prominent liens. The
aggregate sales were s., 100000.
Government bonds ruled strong on
light transactions.
The total sales OF stocks to-day were
397l95 shares.
Evening Posts London financial ca
blegram
The stock markets were quiet to-day,
in view OF TIT holiday tomorrow. New
ertheless, more public interest was
shown in Americans to-day, than for
some time past. Large lines Of Chesa-
peakes were bought here. The selling
this afternoon In New York Slightly
damaged the markets here, which clos
ed under the best Insurance compan-
les here continue to absorb good class
OF American bonds. Chilian bonds were
fiat.
The Paris and Berlin markets were
ginndy