The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-08-05
FINANCE AND TRADE
Tia Features er the Money and Stock
Markets.

mercantile paper sisGi per cent. ster-
ling exchange weak. with actuai bust
ness in bankers bills at 81 S6SG4 sG5i
for demand ana at 81 s5%Q4 $50 for
sixty days. Posted rates 81 s6Ma4 81
and 81 S7lkG4 IS, Commercial bills
81 SIS. silver certificates 57a57h, Bar
silver 57c. Mexican dollars HE.
The great majority OF the sales or
stocks on the stock exchange to-day,
We're made at prices very substantially
above last nights closing, But the
market succumbed In the last half hour
Ia 4 sudden selling moyemcnt Induced
by profit taklRgs, The effect was to
wipe out nearly all the earlier gain in
most stocks and to leave the average
level OF the market, but little changed
from yesterday. The sales Of all stocks
attained an aggregate Of over S53O,OOO
shares. The dealings in the last half
hour were all al lower prices, and the
only stocks TO escape the effect OF the
fall were those not Included In the later
dealings. Except for the final decline,
the market was almost repetition OF
that OF yesterday, copious purchases
being made OF pretty much every stock
In the list. Very many sales OF odd lots
were recorded, rejecting the ventures
OF small individual purchases through
commission houses. There was not
much discrimination shown In this
class OF buying. which embraced some
of the stocks which have long almost
passed out OF the field of attention on
the exchange. A notable feature OF the
trading was the heavy selling for for
elgn accounts and the readiness with
which these sales were absorbed and
their sentimental effect dlsregarded.
Northern Pacific preferred was the
chief sufferer In this respect as yester-
day, but all OF the internationally list
ed stocks were sold by London TO some
extent It Is estimated that the total
OF London's sales reached $1,000 shares
for the day This was almost without
effect on prices here and failed to
check the further fall in sterling ex-
change, which was affected by heavy
offerings OF gFaIn bills. London was ap-
parently eager to realize on American
securities and steadfastly declined to
enter the tempting field for speculation
offered by the New York market. The
industrial group and the Gas stocks
were conspicuous again to-day for
strength, Consolidated Gas leading and
showing n further net gain OF five. The
Changers were heavily bought and ad-
vanced at one time near n point. The
final decline left the net gains IN those
and other active stocks only fraction.
Tho Erie stocks, Vanderbilts and the
Anthracite coaiers were also notable
for some sharp gains. Sugar rose at
one time "a per cent, but closed with
only fractional gallo. Other net gains
OF point or over were: Tobacco 3la;
Hooking Valley preferred 0; Erie first
preferred az; do second preferred 2b;
Illinois Steel 4; Oregon Short Line 21h.
ST. Joe and Grand Island 2; Buffalo,
Rochester & Pittsburgh 2: Laclede Gas
2IIs; New York Central, Norfolk &
Western. Oregon Navigation, Reading,
st. Paul and Duluth, Omaha, St Louis
& San Francisco first preferred, Sugar
preferred. Tobacco preferred, Bay State
Gas, Illinois Central and Iowa Central
were sustained by Susauehanna &
Western preferred, East River Gas and
Ice. Operations in railway bonds were
attended by violent fluctuations In some
cases with Georgia Pacific flrsts. and
Union Pacific 4is's. Trust Receipts con-
spicuous for advances of 81 and per
cent respectively. The market exhibited
q very strong tone throughout, with
dealings on heavy scale. The aggre-
gate sales were $3,340,0OO.
Government bonds were heavy on
moderate sales.
The Evening Posts London financial
cablegram:
Business is broadening in oil depart
mentsand II the rises In prices were less
marked to-day the tone was lust as firm,
Americans were buoyant. Arbltrage
houses are shipping enormous lines Of
stocks by to-day's steamer to New York,
but none the less the public Is buying,
the inquiry to-day running on Louisville,
Illinois, Northern Pacific preferred and
Erie. The closing was at the top,
The decline In exchange Is causing gen.
eral talk OF gold shipments to the United
States. At present, however this Is
mere gossip. All the same should not
be surprised 10 see 1t occur soon. Kafiirs
are booming. Paris buying heavily.
Greeks are dat on the indemnity ques-
ton.
NEW YORR-The total sales OF stocks
to-1ay t,,ara XII Dnn chnYoo