The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-07-12
FINANCE AND TRADE
The Features Of the Money aud stock
MnrkeLa.

nominally at l@lh per cent Prime
mercantile paper Sa4 per cent. Sterling
exchange steady. with actual business
in bankers bills at 81 S794 s7h for
sixty days; posted rates "a S6hq4 SIX
and 81 SS64 SSh. Commercial bills
- SIS. Bar silver 6ONc. Mexican dollars
47c.
The days market for stocks was de-
void OF interest The two hours Of
trading on Saturday lack the usual de-
gree OF activity, as rule. The day
was holiday on the London exchange.
set apart TO house cleaning. The usual
tone impaired to the opening here by
London was lacking, The heated term
has driven many active operators In the
market out of town, and the attendance
ON the exchange was small. Add TO
these drawbacks 10 activity the fact
that tho whole temper Of the stock mar
ket has taken a waiting disposition.
Would-be buyers and would-be SELL
ers are both scarce, and when they APP
peared to-day they found themselves
far apart In their respective Ideas OF
prices The consequence was that
transactions on the exchange In the
aggregate reached barely $4,000 shares
sold. and one-fourth Of this amount was
Sugar, This stock was erratlc during
the day on the conflicting rumors re-
gardlng the tariff, but did not move
over a very wide range. 1t lluctunted
above last nights close during the
| whole session, at one time going X
, per cent above, but closed with frnc-
tional net gain. Only ten other stocks
were dealt in TO the extent OF 1000
shares.
The grangers we're most active next
to Sugar, and enjoyed continued benefit
from the reports OF good crop prospects.
New York Central was active and high
er on account OF the persistence OF the
rumor that It's leading interests were
about to secure control OF the Lehlgh
Valley railway. Pacific mail added a
fraction to It's price, owing to the con-
tinued belief In an additional dividend
to be declared. Chicago, Great Western,
Des Molnes & Fort Dodge and Keokuk
& Des Moines preferred continued to
improve under operations OF inside In
terests. the latter stock advancing AZ
points. @
st. Paul was sustained by the first
week statement OF gross earnings,show-
Ing an Increase of over $4,000. Mime
sofa iron rose point. and Rio
Grande Western preferred ~, The
Rubber shares were heavy. the pre-
ferred losing two points and the COM
mon one. on the resignation of n
prominent director and renewed ru-
mors OF difference in the control. The
close showed a majority of stocks a
small fraction higher
The stock market has remained In q
seml-letharglc condition during the
week. Characteristic Of the normal
midsummer market. but which many
oyeT-sansuine dealers ia stocks had
prOphesied would be absent this sum
msr There have been indications OF
strength In the market several days
during the week, but the upward move
ment of prices was attained on very
light transactions. and the intervening
| declines were effected almost as easily.
| The closing out OF accounts to take
profits preparatory to a holiday trip
! Of n single operator was an effective In
luence ON the market for one day.
The most attention In Wall street Is
paid at present to the reports OF CROP
| prospects aud to prospects for crop
| prices. The harvesting OF abundant
crops and the securing Of good prices
for them by the farming population are
regarded az most Vital to the sustaining
of prices ut the advanced level result
inE from the six weeks bull movement
The firmness OF prices In the face OF the
| dullness OF the market reflects the con-
| ndence OF holders OF securities In the
! accuracy of current estimates of the
good prospects for domestic crops and
| 0f the probable necessities OF the coun-
| tries which usually take our surplus
| owing to the prospective shortage In
| other sources OF their supply.
The Granger rouds have led the nd'
| vance throughout, and continue TO show
the greatest strength and ilrmness
| The passage OF the tarlff bill through
| the senate. as marking the conclusion
OF critical stage In the final settle
| ment Of tho vcXed question, had beer
looked forward to as \ favorable factor
| In Wall street. Bat like all such fac.
tors that are long In prospect. this one
had been discounted, and was marked
by profit-taklng and a slight reaction.
airy tendency The ingenious profess
aionai operators have managed 10 tx
tract both hull and bear argument
out OF the projected presidential mes
| sage on currency reform, the beurs sell
Ing because they said they were dis.
appointed over action on the matter be-
Ing deferred, and the bulls buying be-
cause they said they were plad Tho
early disposition OF tarlff questions wni
not TO be ieopnrdlzed by tho compiled.
ton OF the other question.
The strike Of soft coal miners hal
had lts eject In checking the upwart
tendency Of priccF But there nrc moi
lacking expressions at confidence thai
the strike may lead the way to nn on
portunlty OF lettering the deplornblt
conditions cxstlug all through the fofl
conl trade by improving wages as wei
nB by improved profits 10 operators aht
transportation lines.
The week has passed without a ship
ment Of gold to Europe, and the BELLE
IN general that the years outgoing golt
movement has come 10 an END. Slcfllnf
exchange has, however shown . SLOW
~ hardening tendency ~ the woel
progressed even In very dnll mar
kot. and ID In reported to-day that d
rmdll order for gold Tor Europe N In th'
market, and may ma II illtcr mex
week n exchange continues TO- rise
Tho low rate Tor call money has tallct
duflng che week ftum u pet cent To
ppr cent The net changes IN lcndlni
stocks Tor the week are small but ar.
mostly lower. Some noteworthy gain
arc shown by Inactive stocks. az
pntntH for pes MelHes g Fort Dodge
1 Tor Kuolulk s. ncH Molnos preferred
~ for chicago, GREAT Weston, . iOl
Minnesota Iron, 20 Tor Minneapolis nnt
IN Louis, a9, for no Grundu Western
Nh furr1, ana 80 for flnt itiycr 6np
Gains VI over q point nro shown also b,
sugar Tobacco, LAY state daB, La