The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-08-02
FINANCE AND TRADE
The Features OF the Money and Stock
Markets.

The Features or the Money and Stock
Markets.
NEW YORK. July Sl.-Money on call
steady at 1qlfs per cent. Prime mer-
! camille paper 3di per cent. Sterling
exchange hrmer with actual business In
bankers bills at "a S79s for demand and
81 S64 for 60 days; posted rates 81 S7lA
"a. sSlA; commercial bills 81 S5ls. Sill
yer certificates 5sssc. Bar silver 57Hc.
Mexican dollars 45hc,
Trading was inclined TO be erratic IN
| to-day's stock market, opening with
some Improvements, low priced stocks
being In especial demand. II became
irregular and standard securities eased
off some on reallzations, closing with
irregular fractional changes either way.
The London stock exchange being clos
ed to-day as well as Monday arbltrage
brokers did nothing In this market,
Northern Pacific securities continued In
heavy demand with the preferred rising
rs per cent, 1t being largely bought by
n house regarded as representing I'M
portant speculative interests Sugar
was quiet and the grangers and south
westerns rather Jagged Room traders
sold grangers because of the slackened
demand for these shares, on vague
stories OF crop damage. These shares
were purchased on q down scale and
closed about unchanged, as did wheat,
after its early morning advance Read
ing issues We're attacked late In the day,
the preferred yielding 2h, with a final
rally OF l% per cent. The decline was
credited to liquidation started by tho
raid. Chicago Gas gained nearly o
| point, which, according to Its friends,
was based on the expected declaration
OF a quarterly dividend next week.
The principal changes OF a point or
more were:
Declines - Northwest preferred 3;
Flint & Pere Marquette, Minneapolis
& st. Louis second preferred and Rub
Der preferred Advances-Detroit Gas
2; Erle Telegraph. Northern Pacific
preferred and Chicago. Indianapolis &
Louisville.
The stock market had advanced so
long partly in anticipation OF settle
ment of the tariff. that the enactment
thereof had no appreclable effect at the
beginning OF the week. Stocks were IT.
regular, but many advances We're maue
| on u constant increase in public inter-
the price of wheat and the enormous
daily average, nearly million bushels.
of wheat engaged for export. \ favor.
able feature was the falling of OF about
a quarter OF million In the imports
and commercial agency reviews. show
ing Increased business with western
jobbers compared with last year, and
that nearly every northern city report
ed improvement in business. The total
transactions for the week was In bonds
the largest in the last two years Mt add
vancing prices. Unfavorable features
were the tagging OF the Iron market be.
hind the improvement noticed else
where and the closing OF many cotton
mills, and especially the export Of about
100000 gold. Government bonds re-
tlected the public confidence in making
top price records, while stocks and
bonds long neglected were active al
higher figures. notably those of south
and southwestern railways, owing to
present crop estimates and already i'm
proving traffic. Altogether the market
was broad and many top records were
scored. Reports OF earnings, both
weekly and monthly, gross and net,
were generally pleasing regardless OF
the existence OF the great bituminous
coal strike, The early weeks markets
were fairly well supported by commits
sion house buying. but professional sell
ing at times brought the quotations to
u lower plane. Sugar and Tobacco were
hammered flercely, the former ult-
mately registering an extreme loss OF
DIh per cent, OF which was recovered
4 per cent In the subsequent dealings
Tobacco gained IA, after being alter
naiely advanced and depressed as suit
ed the minds of the minipulators OF
this speciality.
Money on call was loaued generally
at per cent. with some few transac-
lions at IA, and small amounts at 2
per cent. The supply Of time money eN-
cceded the demand but the few trans
actions reported were at unchanged
quotations. The sterling exchange mar
ket was strong and warranted the ship
ment of about 100000 gold, a portion
Of which was covered by sales OF bills
In the open market There was also an
export Of 100000 gold to Canndn,
The bond market during the week
was characterized by wide expansion
In dealings, which included numerous
Of the usually dormant mortgages.
which fluctuated materially. The mar.
ket generally displayed aggressive
strength on the development OF pro-
rounccd inquiry for Investment, and
speculative account which embraced all
classes of securities Purchases for
continental account were on large
scale. but fumc OF the active issues
were sold for foreign account The ag-
grcgntc transactions were SiS,OOOO0O.
BONDS AND STOCK QUOTATIONS.
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