The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-12-18
FINANCE AND TRADE
Ths Features az the NIousy and Stock
Markets.

NEW YORK, Dec. 17,-Money on cal
easier at 283 per cent; last loan . pei
cent; closed at 2G2A per cent. PRIME
percantile paper 3lkQlls per cent. ster-
ling exchange about steady, with actual
business in bankers bills at "a S5sGi 81
for demand and at 81 S2q4 S2ls for &C
days Posted rates 81 S3a4 SSl. and
S4SeG 1861, Commercial bills s4Slis. Silver
certificates 5G%@5lftc, Bar silver 5Glsc
Mexican dollars 45c.
To-days stock market was more OF
less depressed all day, though final prices
are considerably better than the Low
point of the day; liquidation was moi
heavy outside of few special stocks
and the sagglng tendency of prices seem.
ed to be due rather to an absence of ac.
tive demand, Some OF the recent proml.
nent bulls brought stock on a downward
scale OF prices, bat without any attemp;
to sustain values. Manhattan and New
Jersey Central continued TO be the prIn-
cipal objects of manipulation as was the
case yesterday and Sugar continued IA
show Its weakness, Its decline from yes.
terday'S closing reaching at one time
per cent, but final rally left It's net loss
only fractional. Manhattan was traded
in ex-dlvidand and was quite fcverish up
TO the time OF the announcement of the
decision Of the appellate court on the UNI
derground rapid transit plan. This news
which had been dlgSredltod. caused the
shorts 10 cover. the price advancing over
points with only fractional reaction
afterward, leaving small net gain,
Short covering due TO the same cause
helped Metropolitan Street Railway and
there was In addition a report of bust
ness agreement with the competing COM
pany. The variations In New Jersey
Central were dictated by the needs OF the
shorts. There was much continued APP
prchenslon regarding the lmmadlate fu-
turc OF the money market and the time
money market was quoted at 3 per cent
for yhlrty days and 3Is per cent for 60 and
SO days. For call loans per cent con-
tinued to be paid but the rate eased of to
per cent In the final hour, New York
banks have gained on balance during the
week from the currency movement but
have lost heavily to the sub-ireasury
and the condition Of the surplus reserve
to be shown by the bank statement will
depend upon the amount OF loans which
have been called. There was no fur
ther fall in sterling exchange to-day but
yesterdays sharp decline here was re-
flacted in stlffenlng OF the London dis
count rate at 80 per cent, which Is a
quarter per cent above the bank Of Eng
lands minimum rate. Confidence was
expressed that the redemption by the
government Of the currency skies begin
ming next Friday would serve as safe
guard against strlngency In the money
market. But there Is much room for I'M
certainty as to what amount of these
bonds will be presented for redemption
before January I, when they mature. The
next payment OF linton Pacific purchase
money into the treasury Is 10 be made on
December q, the amount being about
SSjOO,O0O the final payment of an equal
amount falling due on January .. In ad-
di,iOn the usual heavy accumulation OF
funds preliminary to the January dis
burScments OF dividends and interest Is
10 he reckOned with. As a result OF the
rally before the close OF tO-day's market
net losses are IN most important In
stances reduced TO fractions, the notable
exceptions on the side Of gains having
been already indicated. Some inactive
stock show losses from TO . per cent,
There was o marked falling of In ac-
tivity In the bond market and some isues
show losses, Union Pacific 4ih's declining
points. Total sales Si7j0,0oo.
Government bonds were steady and
unchanged.
The total sales OF stocks to-day were
800 shares,
The Evening Posts London financial
cahlegram:
The stock market here was quiet and
easier to-day on rcalizltlons prior TO the
approaching holidays. Therc was firm
tone. Rails were better.
Americans closed duh on New York
selling, but the belief here IN n cortinu-
Gus rise In these securities In the new
year IL unshnlSen as II ls also In Argen-
tines, which are duh for the moment
The Paris aud Berlin markets were
firm. Some mnnlhs ago Berlin raised
large loans on bills IN London, A large
amount win mature,neTt week, but they
probably will be renewed.
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