The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-12-16
FINANCE AND TRADE
THIS Feature. OF the Money and stock
Markets,


This Features OF the Money and stock
Markets.
NEW YORK, Dec. l5.-Money on call
firmer at 2q4 per cent; last loan 3h
per cent; closed at 3dSh per cent.
Prime mercantile paper Sq4 per cent
Sterling exchange easy with actual
business IN bankers bills at 81 S5ls for
demand and at 81 S97sai Sg9s for 60
days. Posted rates 81 S3ls@4 81 and
81 S6lag4 81, Commercial bills 81 S2h
Silver certificates 57laG5Slsc, Bar silver
57c. Mexican dollars 45lAc.
To-day's market was largely profess
sloRal and In the contest between the
buils and bears the former enlisted
themselves under the banner OF the
coalers and the latter made the local
traction stocks their main resource
The fortunes OF battle shifted several
times during the day and In the middle
OF the afternoon the bulls seemed to
have gained a decisive advantage, the
earlier marked losses in some special
stocks having been almost entirely
wiped out and the bears apparently
driven TO cover. In the last hour OF
trading, however, large number OF
loans were suddenly called and In re-
placing them the call loan rate stlffened
sharply to per cent. at which rate u
large amount OF money was placed
This induced liquidation, especially in
stocks which yielded profit on the
days advance. The bears, thus encour-
aged, renewed their attack on the spe-
cialtles which had engrossed their at
tention all day and uncovered stop loss
orders on the way down. AS a conse-
quence the tide Of battle was turned
completely and victory lay with the
bears. A small part OF the days large
gains were left In some OF the stocks
which had shown most early strength,
but In other leading shares early gains
We're replaced by late losses The scare
lily of money Is due to operations look
ing to the payment tomorrow of an in
stallment of about 900 on the
Union Pacific sale. The previous pay
ments on this account. amounting to
over $29O00,000, have been left on de-
post in New York banks, but to-mor-
rows payment will go direct into the
treasury and be removed from the
money market. Two additional pay
ments of an equal amount remain to be
made. one on December q and one on
January 5, and these will also go dl-
rect into the treasury. The payment
by the government on December q OF
the maturing Pacific bonds, which
amount to over $2g000,000, will be made
by checks, presumably on the New York
deposits 20 the governments credit.
The movement of currency continues
from New York this week, indicating n
still further decline in New York cash
reserve. The tone OF sterling exchange
was somewhat easier to-day. but did
not respond In a marked degree TO the
hardening OF the money market. Time
money for the shorter period also stiff
fened appreclably. The early strength
in tO-day's stock market was aided by
the rise in the price of eoaieTs, due to
reports Of an agreement to restrict the
output next year. The Northern Pacific
stocks were also centers of strength,
the preferred advancing at one time rs
and the common nearly point. Re
ports from London and the European
bourses showed a good demand there
for these stocks. Atchison preferred
was also up over point nj one time.
The rise above par OF Burlington was
further feature. The special weakness
of local traction stocks was due to the
threatened competition Of an under
ground system and 30 the judicial de-
cisiOn at Albany holding that consent
OF adjoining property owners Is neces-
sary to enable the cars Of one company
TO run on the tracks Of another COM
pany. The resumption OF the quarterly
dividend of IA on Cleveland, Cincinnati,
Chicago e. St Louis preferred. after It's
omission for two querterly periods, was
a feature Of the day, as was the one
per cent. dividend in Southern preferred.
Sugar was traded in, eN-dlvldend, and
at one time during the day showed a
recovery OF One-thlrd OF the dividend,
but In the later dealings Il suecumbed
quite easily and lost over 2 points on
the day. Norfolk & Western preferred,
which was at one time nearly 2 points
higher. shows q net gain uf lss.
The bond market was somewhat less
active than OF late and the active list
was only about steady Some OF the
high priced Issued showed sharp I'D
vances. Missouri Pacific collateral Is
lost Q per cent Total sales S3,lOO,OOO.
L. S. new IS declined X bid.
The total sales OF stocks to-day were
ACC. 500 shares.
Evening Posts London financial ca
bltEram'
The settlement has been satisfactorily
concluded and the stock markets here
were generally good to-day, temporary
dear money having no effect. 4 fen
ture was the rise In English rails on
the belief that the engineers strike II
about settled. Americans were good
and closed near the best, although the
support here Is almost entirely profess
slonnl. 81. Paul was specially bought
at the close.
Paris copper shares were slender.
A large amount was borrowed from
the Bank OF England to-day.
H. g new is reg. .ia9s. ore. II. & Nav. n