The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-08-16
FINANCE AND TRADE


nomlnally at 1@2 per cent. Prime mer-
camille paper 3ia@4A per cent, Sterling
exchange weak, with actual business In
bankers bills at 81 SaAqi S3A for de-
mand and at "a S5%Q4 S5N for sixty
days. Posted rates rates 81 Si@i S5and
81 SGlsa4 81. Commercial bills 81 S2!G.
Bar silver 55c. Mexican dollars Ace.
There was another striking illustra-
ton to-day OF the Inherent strength Of
the market for stocks, heavy offerings
to realize at the opening being readily
absorbed, and a strong fresh buying i'm
pulse invited by the lower level of
prices. This new impulse soon turned
the tide of prices to an upward course,
once more wiping out the sharp early
losses and establishing net gains for the
whole list.
The early decline extended to from
1902 points In many prominent stocks,
and the subsequent rise established net
gains OF to points In many stocks
The graneers were foremost in activity
and in the width of the variations in
prices, and there was probably an in
innate connection between their move
and the subsequent rally In that mar
ket.
A further decline of Il per cent in the
posted rate for long sterling exchange
to 81 81, was a strengthening influence
as was the favorable weekly bank
statement. The excess IN the Increase In
loans over the Increase in deposits and
consequent decrease in the surplus
reserve Of S2,il9,iOO, Is an encouraging
indication of the increasing demand for
money and expansion OF business Al
though loans are at this time of unpre-
cedented volume, the same'is true Of the
deposits and the total reserve held, and
n decrease In the surplus Is looked for
ward to In the money market to estab-
llsh a better tone there.
II can correctly be said that the lower
range OF prices in London this morning
Ind an influence In depressing early
prices here, but II was fact that n good
deal of the selling in London was on oc-
ders from this side and probably de-
signed for manipulatlVe effect In con-
tlnuing the New York decline of yester-
day.
The Industrial stocks again took quite
prominent place In the trading, STU
gar advanced fully ~ per cent, after
an early decline, and Tobacco, after
loss of 9A per cent, rallied "a per cent.
The early decline was nearly n point
in the grangers and Northern Pacific
preferred, and exceeded n point In
Louisville & Nashville, New York Cen
trail and Southern preferred. All Of
these declines were more than recover
ed, sharp net gains being established
which extended to a point or over In
BurllnAton Sugar, Lackawanna (2),
Denver g. Rio Grande preferred, La
clede Gas preferred, Lake Shore (2)
Manhattan and Wheeling & Lake Erie
preferred.
The week in Wall street has been
marked by an undated volume OF
trading on the stock exchange, where
the total sales of all stocks on two sep
arate days exceeded that of any pre-
vious day of the present movement. The
record for a days trading In bonds was
also placed at new high point Sales
Of stocks for the week reached total
Of 3,j2O,412 shares, and the par value of
the bonds dealt In was S2O,Aj,OOO.
The course of prices was not so
steadily upward as last week, two
sharp reactions occurring, one begin
ming Monday afternoon and continuing
,brourh n mart Of Tues1av and the
SECOND chewing ne erfnrtslnte an Thurs
dav and contipuIng through the carly
mart Of two dave Tho second reaction
deveIoned artor tbe outbreok on Thurs
dov of n gnec,iIntive movement I'm n lot
~ obscure and Io,v-nrlced stocltg Some
Of them notorlousIv without any eoultr
yhntevar On any nTonertv.
iThn Grade Of inteIiIpence which was
boing onnIied 10 snenulntlon wos indl-
c1teJ h. n ,videIv dIffused argument
Tnr ge,ling IN FRIDAY borouse II wns
FRIDAY and at tho gomc time the I3tb
a. ~. r,n,,b An IncIdnrt ~ Fri1np
v,S Tho rctnr, az large omount of
norro,,,oa stnct, an, u,hirb enfIcip,,t IN
Iorost ,,as ho,,,,- noid M ofCnrd a mar
s,i, "a ,ho bai1ars ,rhis sbnat ami nuiin
q i,rco n,,nmn, 90 ,yoai,i,, r,a,rIncd
stnci, onI ,i,1od ,ho Jooitro
Ano,hor in,orneting devolon,o,t M
r,o ,,ool, NOS, ,,,, r1o, ga, r,.1I,,,, 10,
yos,ors oro ro,ii, huytnr, i,roni,, a.
,,,nrto,n -ecr,iit,s ~ ,1o 80, ,,,nc
40 Toreirn boidara hive Moon sctttnc
iarsoiy mo so,ii,% hoo boon In III,
WoT, ynrL market ne has hoc, nb,,,nns
cr,,,, .i,n on"rniinns 81 nrlIi,,,.o i,o,,.
,r, r,,o,o, is ,ig, ,onnr,nd ~, tn,,o ton,
soy,o bm,,,g in Now y6rk for r,rotgn
,ccn,,n, ~, b,,,prs thot nrn not ro,,,i3r
ori,I,r"cn hrnIcre put a. has Noon oyi.
SonI ,iso Ibot ihcrc vvos mn incrcaslnc
Gom,nI ,,r t,rnrican socnrilies In ,hn
Io"I"n ,,arpat s '' ''''' ''''
owlnc w. tbr Extraordinarily rc,st,,,s.
uc ni,i,udc oI,n,cd ia" Isngltsb n"on-
cIa, nn,y"r,ro,s tor,,ts KnorIc,n co.
c,,r,,Ics HtSf ,rIar ' nri,n hns bn", al.
most constoniiv hoiow ,ho Nov Yor,,
mori,y ,Ybinh S,s ndgod j., u,o tordcp,
ry ~ corrir,n b"tng I ln ", W ,ho