The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-11-30
FINANCE AND TRADE
The Features of the, Money and stocl
Markets.

inc Features vi ahN
Markets.
NEW YORK, Nov. 2s.-Money on call
easy at 1h@ per cent; last loan 1h@2
per cent; closed at per cent. Prime
mercantile paper $685. per cent. ster-
ling exchange firm, with actual business
in bankers bills at 81 S5%94 Sc for de-
mand and at 81 1904 SSA for 60 days.
Posted rates 81 S4a4 81. Commercial
bills "a S2iA64 S2A. Silver certificates
59059lsc Bar silver 59c. Mexican dol
lars 46hc.
There was an accumulation OF COM
mission house orders in the market at
the opening this morning. which had
come in over Sunday as a result OF the
strength displayed by the stock market
on Saturday The quotations for Amer
icans were also run up on the London
exchange before the opening here. As
consequence the market opened with
quite an animated buying movement and
advance OF a marked fraction along the
line. But the buyers OF Friday and Sat
urday Immediately set about realizing
their profits and the advance came TO an
untlmely end. The motive for the selling
was the withholding OF the decision on
the Nebraska maximum freight rate case
by the supreme court. There were occa-
sional rallies during the day, Sugar
mounting strongly upward after a pre-
1fmtnary decline to the extent of almost
points. There was very heavy spectlla-
ton in this stock during the day, sales
amounting 10 one-third OF all sales, or
over 100000 shares, and It's prices closed
unchanged from Saturday. There was
some buying for the London account on
the decline to cover contracts made In
London at the early higher level and this
also helped to steady the market The
early weakness soon overlook 1t and was
the prevailing tone for the balance OF the
day, net declines reaching to near a point
In many leading stocks and exceeding
that In special cases Manhattan was
markedly weak all day and suffered
net loss OF TX per cent Peoples Gas also
developed late weakness and lost nearly
a point on the day. The Changers were
quite conspicuous In the decline as being
the most Interested IN the Nebraska
freight law. As a result of the lively
realizing movement and the active spec
ulation In Sugar. sales OF stocks ran up
TO near 100000 shares before noon, fig
ure I'm excess to any total days trading
for several weeks. The continued
strength OF sterling exchange attracts
much attention In view OF the status OF
the international banks. Posted rates
were advanced &c for both long and
short sterling. There is a feeling that
the investment buying OF long exchange,
the leaving OF funds due on balance IN
interest abroad and the arrivals OF gold
at San Francisco from Australia are not
sufficient combined to account for the
strength Of exchange and that there Is
much heavier selling Of high class Amer
lean securities by European holders for
transfers TO this side OF the water than
on the surface appears. The high level
Of price for this grade OF securities goes
to confirm this view, The very heavy
Increase in the loans OF clearing house
banks amounting to over 100000 az
shown IN Saturdays bank statement, Is
also being scrutnlzed. The explanation
that the Increase was connected with the
Union Pacific committees payment TO
the government does not entirely cover
the ground, ns the expansion OF loans
previous to November 20. was already
sufficient to account for that operation
and was attributed TO It. Saturdays
statement seems TO Indicate that the pay
mnnt to the government, which was lcft
on deposit IN the banks had already been
Immediately replaced IN loans. AS the
Union Pacific reorganization committee
waa supposed to have already secured all
needed funds before last Mondays pny-
menl to the government, II In difficult TO
account for this large absorption OF mon
cy In view OF the known condition OF the
money market, demand FOR money being
very dull In all departments
The bond market was quite active aud
broad and prices were higher In almost
all casca Total sales ii,SOO,OOO,
u $, old Az registered are u por cent
higher bid, tho tB Y higher bid and tho
new ih'e u per cent bid There were
snlop Of the new t'H coupon
OF i2sk. the highest on record
rho total sales Of stocks to-day were
922 100 shareH,
Evening POstH London financial cable.
gram
The stock markets. were quiet to-day
~ u whole, but conHolH were Gtlll rising
Americans Aad q steady npeplDe and be-
came frmer bat antged Of at tho close
The tone, however, wnh boitcr than II
had been for days past,
The 100000 india treasury BILLS have