The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-09-30
FINANCE AND TRADE
The Features OF the Money and stock
Markets.

Markets.
NEW YORK, September 29,-Money
on call steady at 2aS per cent last loan
per cent; closed at per cent,
Prime mercantile paper, 4lsq5 per cent
Sterling exchange easier with actual
business in bankers bills at 81 S4&d4 So
for demand, and 81 S2laG4 S2A for 50
days.
Posted rates, 81 S3lsG4 "a and 81 So.
, Commercial bills 81 Silad4 SiA.
Silver certificates, 54laq55.
Bar silver, 56lt.
Mexican dollars, a..
To-day's stock market stlll further
demonstrated the character OF the specu-
latlon, and the entire subsistence of the
recent rampant hull spirit. The bears
were more aggressive than at any time
hitherto, and met With scarcely any OPP
position, They seemed somewhat APP
prehensive over their own successes and
bought quite steadily during the after
noon OF the same stocks that had been
sold short In the morning, The result
was TO make net changes quite irregular.
But the largest figures were on the side
OF the losses. The bears succeeded in
dislodging number OF stop loss orders
of weekly margined speculative holdings,
and there seemed TO be more long selling
than has been the case heretofore. The
declines extended from to points and
with few exceptions affected every active
stock on the list, The bears were appar-
emily satisfied TO realize on short turn
and not leave accounts open even over
night 1t was notable fact, however,
that whatever animation was shown was
during the decline, and the recovery was
slow and hating and on much diminish
ed volume of trading. The centers of
bear attacks were stocks Of such uncer-
tain value as Sugar and Chicago Gas
and the local gas stocks which have late
ly proved so easily subject to manipula-
ton. The evidence of a reactlonary tone
of the speculation was shown IN the
ready credence given all rumors OF an
unfavOrable factor. In the same way as
the improvement in business was early
discounted In Wall street, future posi-
BILE contingencies are now largely taken
account OF. The cessation OF the late
pool buying on large scale calls atten-
tiOn 10 the large amount OF stocks which
are speculatively held, and to the danger
that would ensue from any untOward In
cldent that would precipitate sharp de-
cline and bring flood Of selling on a
falling market, Such occurrences as
those Of to-day do much to eliminate
these elements OF weakness and are ere
ating short interest which would be
stimulant upon any recurrence of bull
movement Meantime prices are neces.
sariiy in course of adjustment to the adj
vanced money rate which means lower
prices even for substantial investment
gfnntgE Tho unaOTtiuffNa prannpt1au Ftthtnb
had been advanced a. unreasonable
prices must also submit to a readjust-
ment more In proportion with their ac-
tual value.
There was no change to-day in the
character Of the news bearing on the
general situation London continued to
show a disposition to put money into
American securities on any decline. Rail-
road earnings continued to show i'm
provement. Cleveland, Columbus, Gin
cinnat! e. st. Louis reporting an increase
Of S2j,522 for the third week IN Septem-
ber An Incident OF the day was the
lowering OF the actual rates for sterling
exchange Ac and fall In the Paris rate
Of exchange on London. Each of these
Incidents Indicated a recurrence of the
pressure OF the demand on London fnr
gold Near the close Of trad
ing and on the exchange II was reported
that offers were made Of call loans AZ /
per cent Slight Significance was at
tached TO the offer as having any bearing
on the money market. in which rates
continued firm. Owing to the late rally
prices of the Changers. the Vanderbilts
AMI most OF the other leading stocks
show insignificant net changes. LOSES
however, preiomnating. Cotton OH and
Metropolitan Traction showed gains "
over point the largest losses were -,
In Consolidated Gas, In Brooklyn Union
Gas. Lake Shore and National Lead pre-
ferred. 2 In Chicago, Indianapolis &
Louisville preferred and Manhattan and
81 In New Haven.
The bond market did not yield so read
ily as stocks. but prices Of the most ac-
tive issues declined sharp fraction
United States ~ coupon Of 1907 advanced
Il bid Total sales. $2O0O.OOO
The total sales Of stocks to-day. were
4g1 800 shares.
The Evening Posts London financial
cablegram:
There was a further general improve
ment In the stock markets to-day, not
ably in Investment stocks Mines were
better, Americans were fat There was
a disposition here at one time to-day 10
buy, but persistent selling from New
York caused fear that large operators
there were really unloading; hence prices
finished Hat, with no support
BONDS AND STOCK QUOTATIONS.