The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-10-08
FINANCE AND TRADE
The Feature. OF the Money and Stock
Markets.

This Features OF the Money and Stock
Markets.
NEW YORK, oct. 7.-Money on call
steady at 2hq3 per cent; last loan 2h
per cent; closed at 2Ggla per cent, Prime
mercantile paper 1905 per cent. Ster-
ling exchange dun and steady, with act
ual business IN bankers bills at 81 SAX
for demand and at 81 S2I4qi S2h for so
days. Posted rates 81 s2HdFS3ls and
81 S5Q4 S5lA, Commercial bills 81 81
Silver certificates 56q57c. Bar silver
| 56c, Mexican dollars 43@c.
The sum and substance of to-day's
market may be comprised In the words
Chicago Gas. The announcement that
the companies outside OF the consollda-
ton had been sold to a syndicate repre-
| sentlng interests powerful In Gas In
many other large cities caused slump
| at the opening OF the stock market OF
over 3 points within the first few min
utes OF trading. A block OF 5000 shares
was the initial sale at prices ranging
| from SO TO 95, aud the first OF these was
the highest price OF the day. The stock
sold at one time as low as 92%, the pres
sure of long stock being augmented by
vigorous efforts OF the bears. Large
blocks Of the stock were sold short in the
interest OF the bear clique with the de-
sign OF effecting a sympathetic decline
I'of the general market. The total sales
Were over 100000 shares This purpose
was only partly successful and before
the termination OF the first hour the
shorts were covering hastily and prices
OF many stocks, the high priced Indus
trials being conspicuous, rose q point
or over The market declined again un-
der renewed pressure on Chicago Gas
and for the balance OF the day fell into
a condition nf almost total apathy. The
available offerings Of stocks at the low
level were apparently exhausted, but Il
was equally apparent that buyers were
not ready to bid up prices TO q point that
would invite sales In any quantity. The
announcement that 81 .O00. 900 more gold
had been engaged for import 10 New
| York, was without apparent effect either
on the stock market, the money market
| or the exchange market. London was
buyer to small extent on balance. Net
changes are very narrow in almost all
cases and are distributed between gains
and losses. Consolidated Gas and La
Ciede Gas lost III md IL per cent re-
spectlvely in sympathy with the weak
| ness In Chicago Gas. New York, Chlca-
| go & st. Louis second preferred declined
81 per cent. Tobacco rose over point,
as did Pittsburgh Cincinnati Chicago &
st. Louis and Metropolitan Traction
gained point.
The changes in the prices OF bonds
| were slight and the volume OF dealings
were small. Total sales 81, 200, 900.
United States As were advanced Xc
bid and the SIS rose &c bid.
The total sales of stocks to-day were
$4,000 shares.
Evening Posts London financial ca
| blegram:
The stock markets here were irreEu-
lar and inactive to-day. the only firm
markets being Katilrs and West Aus
tralians, the former on cables stating
4 legal opinion which indicates the pos
sibllity OF cancelling the dynamite mo-
nopoly, and on rumors Of important dis
coveries Of gold IN Matabeleland.
Americans kept over the parity, al
though dull. New York prices were bet
ter than yesterday, and the close was
firm on reports Of the shipment OF lOO.-
900 pounds In gold to New York.
The Paris bourse was firm, being
elated by the good Rio Tlnto dividend,
The Berlin market was steady Money
Is easier there after the end Of the
| quarter.
| poNDu ANT, u.ror,ty ,,,o,,,.,,..