The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-08-07
FINANCE ann TRADE
IN, Features OF the Money and Stock
Markets.

cent tiosEd OhNtNh a. i pfl NNAH R4'''N
mercantile paper Sl4Gi per cent ster-
ling exchange weak, with actual bu1I-
ness in bankers bills al 81 sGhGi S6i4
for demand and a, 81 s5q4 S5h for 60
days; posted rates 81 S6Qi 81 and s. sl'a
IA So; commercial bills 81 sac. silver
certificates 56q5Gis Bar silver 56h'
Mexican dollars iSc,
The stock marke, Iablunded to-day
from the depression manifest during the
greater part of yesterday, many stocks
establishing new high records, The vol
ume OF transactions was second only TO
that of yesterday in the record Of the
year thus far and the animation was
without interruption, except for Few
brief iuiis. when profits were taken by
professionals, Although the dealings In
stocks were In somewhat decreased
amount compared with yesterday, the
buying Of bonds was heavier. The ef-
forts of the professionals 10 bring about
n reaction were aba pdoned to-day and
the market seemed TO move upward al
most without restraint except for few
exceptional cases, The activity per-
meated every department OF the market.
The sagging tendency OF prices of-Amer-
lean securities in London and the con-
tinued large selling OF them here for
London account were ignored, Some OF
the stocks in which the heaviest selling
was done by London, as Illinois Central
showing the widest advances here
There was a temporary hull in the pd-
vance OF some international stocks dur
ing the process Of absorption Of London
offerings, but it was resumed when these
offerings had been taken. London's sales
were estimated at about $4,000 shares.
The foreign selling was also without eff
feet on the exchange market, which sank
heavily, actual business for demand ster-
ling being done at 81 S6H and for 50 days
at 81 So, with the tendency still down
ward, Posted rates also were reduced
&c. to 81 SC for long bills and 81 ST for
short respectively. The failure OF the
London selling to affect the exchange
market led to set surmises that the SELL
ing Is for short account. Skilled estl-
mates place the amount of American
railroad stocks stiii remaining in the
London market at a very low figure,
The recovery In the wheat market had
a sustaining effect in the stock market,
most pronounced In the grangers and es-
pecially in st. Paul, Burlington and Chi
eago Greatwestern. Yesterdays good
reports Of earnings of Southern railways
continued to exert good influences of
stocks OF those roads The stocks Of
iron and steel companies reflected an i'm
proved feeling In those trades, except
Colorado Fuel, which lost rs per cent,
and Leather preferred rose on encourag-
Ing reports OF prospects In the leather
trade. Laelede Gas made further sensa
tional advances. Consolidated Gas and
Chicago Gas retained their rather heavy
tone. though closing with fractional net
gains. Sugar was unable to maintain Its
rally and closed with net loss of 1R,
Manhattan rose bueyantly on reports Of
a union with surface car interests, the
net gain being AZ per cent. Other gains
Of Importance were: Laelede Gas prefer
red Gls per cent; Minnesota Iron 3; Pitts
burgh, c., c. & st. Louis perferred az;
Pullman a; Manitoba s; Edison Electric
Of Brooklyn Z. Two points or over In
Northwest preferred, Detroit Gas, I'LL
nols Central, Illinois Steel, Laelede Gas,
Metropolitan Traction, Southern Pacific,
and Leather preferred. and point or
over In Burlington, Chicago, Greatweet-
ern, Duluth, South Shore and Atlantic
and Fort Dodge, Erie second preferred,
Flint and Mere Marquette preferred,
Iowa Central preferred, Minneapolis &
st. Louis second preferred. New Jersey
Central, New York Central Susquehan-
ma & Western prefer, ID, Pittsburgh. C.,
C. & St. Louis, Tennessee Coal Rubber,
do preferred, st. Louis & San Francisco
first preferred and st. Joe & Grand Is
land first preferred.
Values of railway miscellaneous Sc
10
heavy purcha;,j which include num-
Der OF gilt-edged liens, The middle grade
and low priced mortgages scored the
most noteworthy changes with foreign
purchasers and gain In evidence. The
aggregate sales were 100000.
Government bonds showed some IRE
gularity but closed firmly on light trad
ing.
The total sales OF stocks to-day were
al 600 shares.
Evening Posts London financial cable
gram:
Americans "boomed" to-day, but use
the word more in the sense of New York
and continental buying than any real
rush for the stocks here. The profess
slonal public here realized largely yes
terday and the continued advance in
prices in New York with no setback,
making them nervous about reopenlng
transactions. especially on the eve Of the
settlement. To-day's gains are further
advertising Of the American market
which Is the chief topic of conversation
among flnancIers here. New York eX-
change Is watched closely Were It not
for the enormous shipments of stocks to
New York, gold movements would be
looked for soon.
To-day's gold Ia in strong demand for
Austria, but am told that the require
ments in that quarter may terminate
soon.
Kafllrs were good, considering that the
settlement begins on Monday.
The Paris and Berlin bourses were
firm.
BONDS AND STOCK OTTOTATrONs