The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-10-21
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FINANCE AND TRADE
This Features OF the Money and sto
Markets.

This Features ~ the Money and Stock
Markets.
NEW YORK, Oct, 2O,-Money on call
steady at 2G2'a per cent; last loan 2h
per cent; closed at 2A@2la per cent,
Prime mercantile paper 4afa per cent,
Sterling exchange firm, with actual
business in bankers bills at 81 sl7s@
4 S4i5 for demand and 81 sea- sea for
sixty days, Posted rates 81 s21AG4 say
and 81 S5la. Commercial bills 81 Sl1S
Silver certificates $4,000. Bar silver
59kc. Mexican dollars 45&c.
To-day's market looked very much
as though an effort was being made to
test 1t for rise. Many OF the profess
sionalstraders have concluded that IL
quotation has about run its course, and
there has been cessation of the bear
campaign, opinions have differed
among the professionals as to whether
conditions In the stock market are
ready for a sustained advance in
prices again. The bears made an abor-
tive effort early in the day to raid the
market and directed an attack against
Sugar and Chicago Gas. The failure Of
the raid encouraged the bulls to ag-
gresslye action, and there were indica-
| lions of the reappearance in the market
| of some OF the large buying interests
which were prominent In the late rise
of the market. This professional buy
| Ing carried prices up quite strongly, net
advances throughout the list ranging
| from one to three points, But the bulls
were apparently satisfied with short
| turn and they commenced TO sell to re-
| alize profits about half an hour before
the close. This carried prices down In
some cases below last nights close, and
| where net gains remained they were In
almost all cases fractional, The sue
cess OF the bears was frustrated In part
owing 20 the special strength In Sugar
| and Chicago Gas upon which they re-
| lied to work sympathetic decline in
| the balance OF the list. Sugar was
strong on the decision OF the treasury
| department to hold Dutch refined su-
CARS condihonaIly liable to the coun-
tervallinG duty, which applies TO i'm
| ported sugars upon which an export
bounty is paid.
Chicago Gas derived strength from
rumors OF compromise with the threa-
tened competition. The market show
| ed considerable increase of activity as
compared with the last few days, but
was still almost purely professional.
| London changed from Its recent atu-
| tude and sold stocks here. Additional
reports of railroad earnings for the
\ second week In October all show hand
some increases and many vague iu-
mors were afloat of still more striking
| improvements to he shown in state
ments not get issued. The large move
ment of cotton along lines recently re-
| leased from quarantine restriction was
shown by reports and gave STRENGTH 90
| the railroads affected. The exchange
| continued firm and the local money
market easy, the small withdrawal OF
American eagles from the Bank Of
| England for shipment to New York not
being considered OF Importance, Some
business is being done In the placing of
loans on long sterling which is in ef-
feet the lending OF money abroad. This
| naturally tends to keep up the rate OF
exchange. The continued ease of the
local money market and the large re-
sources in hand by interior banks ow-
ing to the large payment of debts fol-
lowing the crop movement are the In
| ducemeuts for thus deferring the move
ment of gold this way, The marked
net changes were gains of six points
by Hooking Valley preferred; 2& by
Manhattan; by Metropolitan Trac-
ton and New Jersey Central; by Rub
her preferred; by Minneapolis q ST.
Louis second preferred, and "a by
| Pullman.
Bonds were strong in sympathy with
stocks. One 100000 block OF Union Pa
cifc collateral trust notes was sold at
60, and another block of 100000 at the
| same price. Total sales S2,325,00O.
u. S. AS advanced 4 bid, and the SIS
coupon declined Il per cent bid.
The total sales of stocks to-day were
| 4e2, 200 shares.
Evening Posts London financial ca
blegram:
The stock markets were idle to-day,
but the tone was steady. Americans
we're especially good and closed quiet
at the best, though the support here is
only professional.
The dullest market was Brazils, which
we're fiat on reports that the negotlu-
| lions for the sale OF certain Brazilian
state railways to n foreign syndicate
have been suspended.
/ am informed in credible quarters
that the sale OF American eagles yes
terday and to-day BY the Bank OF
England Is really for Germany the rea-
| son given being that owing ta the
llghtness OF mang OF the sovereIgns
withdrawn, It pays better to take ca
giles at the present price. The amount
OF eagles Withdrawn to-day was $1,000.
and the total amount of bullion taken
was 1900 pounds
A cable from the Financial News
New York correspondent attracts
much attention here 1t anlrms that
| New York banks have loaned to Lon
don large amount OF money on long
sterling bills. Evidences Of this are
very scanty here at present and won
der IL excited as to how such an opera
ton can pay with discount rates here
at 2lh per cont. SIN the report is not
| entirely disercdltcd,
The Paris and Berlin markets were
quiet,
BONDS AND STOCK QUOTATIONS.
| Y. =. now n reg 1861 ore. Il. q Nav, 20
do coupon. .""lzi4 pittsburgh .n.lGi
| U. 8. ian,,,,""ll2HiR Reading .p,... 2io,
do coupon. .n,ll3lg Rock Island go. Nt.
do SccondHu." lNA ST. Paul nl,.u DtM
! u. 3, rs Teg,.a,iH do preferred. ITO
| do 6S coupon lliM ISL T.. q Omaha Siib
| Pacific Is Of 05, ll2h do preferred. ,ii2
| htchlHon ,r,..r II Southern pnc,., 2Oik
! do prCf0rrcd,, 30b Texas 81 pnGn ltN
| 1iAl \ chon.., lbI Union Pacific az
| Can. PnCillC.," 81 Wabash .,.,., ~
| can. Southern. hBh do preferred . 20ii