The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-10-01
FINANOE AND TRADE
Tho Features OF the Money and Stock
Markets.

Tho Features OF the Money and Stock
Markets.
NEW YORK, Sept. 3O.-Money on call
steady at 21593 per cent;last loan per
cent; closed offered at 2 per cent. Prime
mercantile paper 1895 per cent. ster-
ling exchange weak, with actual busi-
ness in bankers bills at "a S4% for de-
mand and at 81 S2lsq4 S2% for sixty
days. Posted rates 81 saga A and
81 S5ha4 Sc. Commercial bills "a SIG
4 Slh. Silver certificates 54HG5G. Bar
silver SAC. Mexican dollars 42hc.
There was no sign OF anything in to-
days stock market TO give encourage
ment to the hope Of those who profess
to believe that the market has run Its
course so far as reaction Is concerned
and is ready 20 resume its upward
course. The character OF the dealings
did not differ In any respect from those
OF yesterday. Prices were raided down
with great facility and the declines in
Vlted large offerings. The slight rallies
which occurred @ few times on the con-
trary, led TO an almost total cessation OF
activity and the upward course OF prices
was hating and difficult The net de-
cline achieved to-day ia very much
greater than that of yesterday only be-
cause the bears reserved their greatest
efforts for the last half hour OF trading,
leaving no opportunity for recovery be-
fore the close. This was apparently ow-
ing to an excess OF confidence on the
part OF the bears who were content 10
leave their short contracts uncovered
over night instead of realizing immedl-
ately. ThS market continued almost
wholly professional and the dealings
seemed TO be confined to the room ira
ders except where the sharp declines
uncovered orders placed to stop losses
These were In large volume and aided
materially in the decline. A feature OF
the day was the reversal OF the posi-
ton of operators for the London ac-
count, who were sellers to-day London
prices also came lower and this was
said to be due to a resumption OF the
selling there for New York account,
which was so persistently adhered to
up TO n short time since. Some OF the
selling in London was attributedto Par
Is orders, owing to a monthly settlement
In progress AZ that center The state
ment OF earnings OF burlington for Au-
gust had been expected TO check the de-
cline In prices But. favorable as It
was, It had not only been fairly dis
counted, but exaggerated reports of the
extent OF the Improvement had been put
In circulation for effect on speculation.
The actual result, showing an Increase
In net earnings for the month Of S3ii,276.
Is ample Indication OF the enormously
increased traffic, which is being hand
led by the railroads.
other Auuust Increases In net earn
lngs reported during the day were: Erie
tlOO097; St Joseph n Grand Island $685.
0gS and Chesapeake 81 Ohio A3,Oj6.
Weekly earRlugs to hand for the third
week Of the current month were equally
encouraging. the Improvement extend
ing even to some Of the soft coal roads,
which have long suffered from the de-
pressing conditions IN that trade. The
resignation OF the Spanish ministry and
the prospects Of n liberal government In
Spain were accepted na tending TO am
clloratc the relation between that cOun-
try and the United States and the news
that canoIliatory proposals from the Gu
ban Insurgents had been received at
Madrid also tended to deprive the bears
OF thclr pet weapon, the Cuban ques-
ton, a decline in sterling exchange Of
isc In posted rates aud one-qunrtcr cent
In actual rates brought the price APP
probably nearer 80 tho gold import
point and was fhvornP factor to in
crease In prices, MS were a slightly eaa-
Ter tone In the money market and n
somewhat reduced volume Of clearing
house exchanges The bears forced q de.
cline In spite OF NIL these conditions and
made especially fierce raids on special
stocks Practically use active iist shows
n act loss of over a point and In very
many cases Of moro chan two points
Gas stocks were the feature OF the
DAYS trading, the net decline In Con-
aolldnlcd being 1874, In Brooklyn Union
2b, IN Chicago Gas gM, In Detroit Gas
p per cent. ana In other gnH stocks
fraction, Manhattan was under heavy
pressure nud lost w pvf cont net
Values VI lwnNmDrir1gca held firm
upuuRt the doclluoNi In utocltg ou rnduc-
cd dealings. Total sales reached only
tl,29bOOO
Government bonds were strong, the
nrw mud hid SIS nn1 thr i'u wcrr nd.
vOuood x ana q per cont bid nh around
Th0ro wrrH Hnlua NJ the new w. coupon
Al i95MmlWh
me tulnt sales Of stocks to-day were
$4,000 shares
Evening ro1rH London financial ca
hhrrnm
Tho stock murl,ota hero wcro good to-