The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-11-19
A N TRADE
This Features of the Money ii Stock
Markets,

81 s ""e 'AFN
Markets.
NEW YORK-Money on call steady at
1902 per cent; last loan 2 per cent;
closed at 1902 per cent, Prime mer-
camille paper ah94h per cent. Sterling
exchange steady. with actual buiness In
bankers bills at 81 S5ha4 S5h for de-
mand and at 81 S2R for co days. Posted
rates 81 s31s and 81 s6is. Commercial
bills 81 SO. Silver certificates 5Sa59hc.
Bar silver 57Mc. Mexican dollars 45kc.
The volume OF transactions on the
stock exchange to-day was even smaller
and changes In prices even less than yes
terday. Prices Of securities have appar-
emily come TO n condition OF equilibrium
and speculation is, for the time being,
dead. Even the small changes in prices
which occurred to-day and which were
nearly all gains, were due to the manipu-
latlvc operations with which the room
traders amused themselves. As thesn
operations Involve the matching Of the
buying order with n corresponding SELL
Ing order for the purpose OF at
tracing outside buying or SELL
ing. the net result, In the absence of the
outside operations. Ia very close to moth
ing. Sugar displayed some speculative
strength on account Of buying attributed
to Washington account and Consolidated
Gas flashed up and down In It's custom
airy meteorlc style, jumping at one time
0 points and reactlng ~ per cent. The
COalers were weak on rumora that there
were obstacles in the way Of proposed
agreement TO restrict the output. AL
though speculative buying was 80 re-
strlcted there continued TO be evident
some good buying Of the very high grade
bonds whose security Ia Of the best,
though with q low return Of interest.
This class OF buying Is q natural out
come uf The casy condition Of the money
market and the doubtful outlook for
speculation. Bond houses report that
there are quite large offerings Of these
bonds for foreign account, the foreign
holders being tempted by the high range
OF prices for them existing In this mar
ket. 1t Is quite possible that this clasH OF
selling for foreign %accounthas much to do
with keeping up the rate Of exchange IN
face OF conditions that would tend to
weaken It In spite OF the tendency to-
wards ease in the rates for money In
INlIlIuIH = Nt u hIN NulhilN' 10 vhl
for three months including October In
nearly SlG5, 900, 900. London has been q
buyer In this market Of low priced spec
ulatlvc securities during tho last few
weeks, az II was to-day Foreign capl-
tai la known to have quito Il large inter-
est In the Union Pacific reorganization
Indicate payments from abroad In pro-
portion are due In this market, Tho
openncsa Of borrowing money on sterling
exchange, which tends to keep up the
rate Of exchange has apparently ceased
The continued maintenance OF the rate OF
exchange above tho gold Import point
under these ClrcumstnhCcR N not easy To
understand. but snleH for foreign account
OF high grade investment bonds would
aid In explaining IT, A report from Chi.
caro- that there In talk there OF q reduc.
tlon I'm interest rates on bank balances to
~ per cent. showH that the abundance
Of money extend Ia the Interior The In.
terppt Of the first payment OF nearly 49,.
600, 900 by the Union Pnci1c committee
10 tho government has made no Impress
sion whatever on the local money mar
ltot. The days returns Of railroad earn
lnm all continued markedly favorable,
notably In The caeo or Southwestern nnd
FAR Western railroads aud OF the soft coal
roada Reports from the west Indicate
that the large earnings nrc due w no
ANAL mart 10 the west bound movement
OF merchandise, showing The activity ot
general business win tho salon OF