The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-07-22
PIHAKcI AND TRADE
Thp Features Of ths Money and stSsi
MARKELL,

bankers bills at 81 S7A for demand and
at 81 $50 for 60 days. Posted ratea
81 S794 s7Ih and 4 ssG4 Ssia, CONNER
cial bills 81 $50. Silver certificates 59&
G6Ohc, Bar silver 59Ae. Mexican dol
lars 4GKc.
The stock market to-day generally wa
steady to firm, but at the closing was
strong AZ a better level for not only the
active shares but also for shares usually
quiet and unobtruslve. One OF the most
potent influence VAS a ? cent extreme
rise in wheat and the effort
orders OF Over a million bushels
OF wheat, while yesterday the enormous
quantity Of a million and a half bushels
were engaged for export. which is the
largest days business in a number OF
years. Other Influences were the treas-
ury's continued gain in gold, favorable
crop outlook and predictions nt the
tariffs early becoming a law, Predlc-
tlons were not wanting that this country
would have a large credit balance abroad
next year, although there wa a posslblll-
~ OF moderate gold exports soon. Spec
uiative and commission house orders
were sustaining Influences In the local
market, while foreign bankers maintain
ed that recent London sales were really
the liquidation Of purchases In London
for New York account The prices for
the present movement were recorded by
Chicago Gas. Rock Island, Brooklyn,
Rapid Transit. Lead, Chicago and Great
western and Missouri, Kansas & Texas
preferred as well IS some less notable
stocks. Compared with a month back.
twelve Industrial stocks are quoted to-
day at an advance af over 4 per cent.
while twenty railroad stocks are up over
2h per cent. The rise OF course IL a con-
slant temptation to those who for sew
eral years have found short sales at
every sharp advance ultimately proita-
Bile, but bulls argue that the Improving
business situation and expected increase
In railway earnings may carry the mar
ket above the figures prevailing before
the '93 panic.
Sugar rose to l45lk, receded TO 1929
andclosed with n net loss of Y per cent.
II Is claimed In some quarters that the
interests most active In the recent ad-
vance Of the speciality have realized on
much OF their holdings, but there Is no
way OF verifying such rumors. Lead
was buoyant on buying attributed 10 the
tariht changes. Chicago Gas advanced
on confident buying in view Of the dlvl-
dend expectations. Consolidated Gas
broke 4 per cent, part az which II SUISSE
quently recovered. The disturbing feat
ure seemingly was fear that the consoll-
dation of other companies II 1t MATERIAL
lies, would lead TO sharp competition.
The grangers were in particularly good
demand, notably Rock Island, which i'm
proved on reports OF immense crop re-
suits In Kansas and Oklahoma. Crop
prospects also strengthened Southwest
ern stocks, especially st. Louis and
Southwestern preferred, and Missouri,
Kansas & Texas preferred. Hopes of an
early settlement OF the soft coal strike
uplifted Tennessee Coal and Iron, al
though the June report was far from
favorable. Wheeling & Lake Erie pre-
ferred was also benefited by the former
influence. The rise In Brooklyn Rapid
Transit was on the conviction that I'M
portant street railway unions were ap-
preaching. Notable gains OF a point or
more follow:
Canadian Pacific 2& per cent; Lead q;
Brooklyn Rapid Transit. Brooklyn Union
Gas, Chicago Gas. Rock Island, Detroit
Gas, Kansas & Texas preferred, st.
Louis Southwestern preferred. Oregon
Navigation preferred and Wheeling &
Lake Erie per ferred. while declines were
noted In the following:
Hooking Valley preferred 8 per cent:
Pittsburgh, Cleveland, Cincinnati & ST.
Louis preferred 3tA: Iowa Central prefer
red 2 per cent and Oregon Short Line.
Business in railway and miscellaneous
bonds was in considerable volume at
marked enhancement in values OF some
securities.
The Central OF Georgia liens responded
notably to the favorable statement Of the
fiscal year and some ~ the active Issues
received better support than for some
time. The aggregate sales we're $780,
900.
Total sales Of stocks to-day were $685.
so shares.
Governments hold firm on light trans
actions, Sales $1,000.
Evening Posts London financial ca
blegram:
The stock markets We're ~llfeless to-
day. the only feature being the extern
slve buying Of Canada Pacific, the rise
in which was stimulated by the new
gold fields. The Greek division brought
5000 shares In u line. The price closed
at 10.
Americans we're neglected here, but
the market ives impressed by the con-
stanoy OF the support In New York and
1t is believed that II this sustaining In
fluence continues much longer the pub
lie may invest soon.
Gold is in strong demand again for
the continent and about EtDO, 900 due TO
arrive on Saturday next has already
been bought for export. This demand.
with the rise In New York exchange, Is
accepted as Indicating that the United
States may lose n little gold for Europe.
The Berlin market was quiet and that
in Paris was firm.
ROM nTrOTATTONa