The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-08-24
FINANCE AND TRADE
Ths Feature. Of the Money aud stock
Markets.


mercantile paper 2%dlA per cent ster-
ling exchange weak, with actual BUSH
ness In bankers bills at 81 s5s94 S5A
for demand and at 81 SS9sq4 sSls fur 60
days. Posted rates at 81 s4ls@i So and
81 S6la; commercial bills 81 S2iaGl SO; sill
yer certificates 52G521se; bar silver see;
Mexican dollars $3.50.
The stock market to-day shook Itself
free from the heavy restraint which was
imposed upon II during all of last week
and bounded upward again. To-day the
large dealers who threw their holdings
upon the market last week 10 realize
bought back stocks In enormous volume
and brought the level OF the market
about up 10 that OF last Monday, since
the rise seemed 10 have eliminated, The
great moneyed interests were concerned
in to-day's buying was shown by the
heavy blocks of stocks that changed
hands and by the extensive buying Of
bonds There was one order for any part
Of 81, 100000 OF q bond which Is fayorite
in the speculation at present. The com
mission houses which. had withdrawn
from the market last week and had Join
ed the selling movement towards the lat
ter part OF the week were out in full force
again in the market to-day. 1t was more
movement of the large dealers to buy
back at the lower level what they had
sold. The motive OF the abandonment
OF the bear movement and the resump-
ton of buying was growing scepticism
regarding the reports Of reduced spring
wheat crop in the northwest The enor-
nous liquidation in the wheat market
gave confirmation to these doubts. The
continued rise of wheat in England and
on the continent on the other hand was
continuing evidence Of the foreign need
for wheat and gave assurance Of great
freight traffic to the seashore to trans
port the grain and back again to trans
! port the merchandise which the farmers
| profits would buy. The strength of corn
and cotton In London also aided the
stock market. The fact that foreign
houses sold grain In the market and that
the purchases for expert were largely
curtailed did not prevent the sterling ex-
change market from weakening Nc, so
actual rates of both long and short ster-
ling, the former falling to 81 SS% and the
| latter to 81 S5ls, This reflects the warn
| Ing influence OF the measures taken by
the Bank of England to defer the move
ment OF gold TO this country, and was q
Strengthening factor in the stock mar
ket. The grangers and all grain carry
Ing roads led the Improvement. Burllng-
ton leading with 2N per cent. The Van
derbilt shares and Southwestern, the
Gould stocks, the International shares
were all very strong and active, and few
| failed to show net Improvement OF at
least point. The anthracite coal shares
u hall kIn Lao IL.
active and strong.
Leather preferred was largely dealt
in at an advance. Atchison preferred
gained 2B, Illinois Steel 4. Louisville &
Nashville "a, Michigan Central 3. Rub
Der preferred 21h and Chicago Greatwest-
ern preferred Az per cent.
The bond market showed reawakened
activity. the Atchlson, Erie and North
ern Pacific issues being prominent.
Northern Pacific 3's gained 15s: Atchison
adjustment As rs and Erie 3's ~ per
cent
The total sales of stocks to-day were
44s,S62 shares.
The Evening Posts London financial
cablegram:
The stock markets were inactive to-
day but the tone was firm, mainly COW
ering by the bears in view of to-mor-
rows settlement.
The rise in Americans was partly due
to this cause, but also to the renewal
of fresh purchases by arbitrage houses
and dealers and by the public generally
on this side at the lower level estab-
lished.
The reports OF n shortage in the
United States wheat crops are not gen.
orally believed here, but are thought to
be ruse. hence the scant response on
the part Of the Baltic clique to-day.
Shrewd operators expect renewed
rise in Americans and from all indica-
lions l should judge such an opinion to
be correct.
All the leading American houses here
tell me differently. They say each day
that the buying Is from New York and
that every one is selling here. They
may be right SO far as dealings on n
large scale are concerned, but / can
only say 1t is common experience to
meet now with men who have their
small account running in Americans
who year ago could not have told you
the price Of a Yankee share II you
asked them. 1 know OF one large firm
OF brokers alone who have done a profit
able business almost entirely in specu-
lation in Americans in the past month.
send these details not to give the
tiea that there is any strong bull move
ment In Americans, but to show how
complex are the currents and that Il
must not be supposed that the AmerI-
can market is not attracting much at
tention Here, because 1t certainly is.
The Paris discount market is easier
to-day, but the London market Is very
unsettled. Discount business Ia almost
at a stand STILL pending developments
in the wheat trade and tine action Of the
other factors bearing on New York ex-
change. Some people believe that the
scant response Of the Baltic wheat OPP
orators to-day on Saturdays American
grain market may mean an advance In
your exchange rates. South Americans
are steadily improving Kaillrs Were
dull, closing at about the lowest prices
Of the account.
BONDS AND STOCK QUOTATIONS.
U. S. 2s reg...... o7lh ore. r. & Nav. %
| u. s. AZ reg. ,1liA Pittsburgh ..n.lGI
| II q IA cannon 1Ig IRpndlDp ........ g7ty