The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-03-23
FINANCE AND TRADE
Tho Features Of the Money and stock
Markets.

m1Ek9I1s
NEW YORK, March 22-Money on
call easy ut 1h6l% per cent: last loan
IL per cent; closed at 1h@1& per cent.
Prime mercantile paper Sh94 per cent;
sterling exchange strong, with actual
business in bankera' bills at 81 SIA8
4 S7A for demand and 81 S51494 S5& for
sixty days; posted rates 81 1904 ssh
and "a 1904 SSA. Commercial bills
81 SIlIk. Silver certificates 6SA963hC;
bar silver Csc.
The market opened to-day with a ten
dency towards higher prices, the stead
mess for American securities on the
London exchange being reflected here.
The strong demand for New York Cen
trail also tended to improve values Of
the Vanderbilt properties, more imme-
dIately, but to some extent all through
the list, This demand was stimulated
by reports OF the early PRONUNCIATION Of
the refundInE plan. Chicago Gas had
numerous supporters and heavy orders
for the purchase Of the stock were exc
! cuted, the aggregate shares sold reach
ing over 5000. The bright season0ble
weather, with Its encouragement to
revival OF trade In some lines was also
a factor in giving strength to the opens
ing market. But In the course OF trad
ing other features soon developed which
over-rode the encouraging elements and
prices were depressed. New Jersey
Central proved too heavy for any buoy
ancy to sustain and was the decisive
factor in impeding the advance in the
market and In working decline. Well
defined rumors were in constant circus
latlon,-though with no authority given
for their basis. of an Intention on the
part Of the directors to reduce the divt-
dend, The well known depression In the
coal trade tended TO a ready acceptance
Of these rumors. The other conleTN
seemed little affected by sympathy and
the decline In them was only fractional
as against the fall Of az per cent 10 IS
In New Jersey Central. The GranBera
were lacking in buoy2ncy from the
first, the bad condition OF the country
ronds in the northwest and the pros
pective falling OF in tr0ttlc returns
which is likely to result In Weighing on
| the stocks Of these roads. The states
ment OF Northwest, showing decrease
| in gross earnings in February Of $l1I,.
$40. aggravated the weakness OF the
group. The news Of the decision Of the
supreme court at Washington, reVers-
ing the decision OF the court below, and
unfolding the contention OF the govern
| ment against the trans Missouri freight
| association formed to NIX rates OF trans.
portAtion in the northwest, that II was
for the unreasonable restraint OF trace
under the Sherman antitrust law, at
fected the Changers more Immediately
than otherwise, but on account OF Its
far reaching possibilities, It depressed
the whole OF the list. The fact also that
the decision was rendered under the
Sherman antitrust law, heretofore
somewhat dIscredlted Us 4 weapon OF
ofIense against trusts, caused some uh'
eRsIness amongst the holders OF the lnN
dustrIaI securities. Manhattan and
Western Union also developed rather
conspicuous weakness III the late deal.
ingB, the former losing IL per cent.
Leather preferred also fell OH ~ per
cent and the whole list eased on. but n
movement to cover by shorts, steadted
prices lust at the close. The decision at
Toledo OF the ArbucklG suit IN favor Of
the Sugar company only slightly affect.
ed Sugar shares, rs the prosecution pt
tho coffee war which the Arbuckles
sought TO enjoin has been a rather de-
pressing influence In Sugar. -
The bond market tirm.
Governments fraction lower.
The total sales OF stocks to-day were
Evening Posts London financial Gu
blegfnm: The STOCK markets were
steady, but AtaEnnnt to-day, awaiting
political developments. ConSolS were
up to liz. Mines were good. The set
Element in mines VIII begin Tomorrow.
Americans were deadly dull. New York
huvinv OF New York Central was the
oniy feature. The close WAS steady.
A sharp rise in silver Is partly due 10
tho statement that the Japanese gov
eminent will not sell Its present stocks
OF white metal. The continent and ia
nan did not buy gold The Paris boursC
is in the same condition as the London
market. There Ia simply no lead
yet In either direction and even the
largest financial houses appear 70 nave