The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-10-14
FINANCE N TRADE
Tho Features Of the Money Nnd Stock
Markets.

Markets.
NEW YORK, Oct. 13,-Money on call
steady at 1903 per cent; last loan 3 per
cent; closed at 2G@S per cent. Prime
mercantile paper 1905 per cent. ster-
ling exchange easy, with actual business
in bankers bills at 81 S4A@4 S4% for
demand and at 81 S2Q4 S2N for 90 days,
Posted rates 81 S21s@4 SSIa and 81 $50
4 S5is. Commercial bills 81 81. Silver
certificates 57hQ5Sc. Bar silver SIC.
Mexican dollars 1890.
Tu-day's stock market almost reversed
the course traversed in yesterdays mar
ket without any change In the character
OF the general outlook OF the news. The
bears made a further very successful
raid during the day and found numerous
weak spots. the decline In some stocks
uncovering further stop loss orders and
spreading Generalization far and wide
through the list. But the aggressive
mood Of the years disappeared during
the afternoon and the latter part of the
day saw steady hardening Of prices
which carried the level Of the market
quite materially above last nights close.
The net range of prices was very wide,
net declines at one time running from l
to 5 points, the latter in Sugar, which
was very active and erratlc all day. AS
the recovery left prices from l to 5 points
above last nights close, the fluctuations
for the day are seen to be very wide.
The liquidation during the decline vas
very heavy and the volume of trading
on the rise showed a marked "dlminuition.
The operators for the reaction seemed Ia
be satisfied with the declines they had
achieved and their purchases to cover
| short contracts were instrumental In af-
fecting the recovery. But there were
also evidences of some buying for long
account. Very firm resistance was en-
countered In some of the stocks which
had shown greatest weakness. This was
markedly true Of Chicago Gas, In which
inside buying was very large and very
prominent. This stock during the day
went as low "a last nights close, but the
final sale showed a net gain Of 4Nsc,
showing yesterdays heavy decline more
than recovered. Sugar was the object
Of special attack by the bears after an
opening gain OF a point and wac forced
down at n time over 4 points, but re-
covered to about last nights level. The
movement in the general list was 10 a
large extent In sympathy with that In
those specialties. The stocks OF south
ern and southwestern railroads showed
less resillency than those of the general
list owing to the decreased earnings dis
closed by late statements as n result of
Interruptions from yellow fever quaran-
tine. There were reports during the day
that further gold engagements would be
announced toward the end OF the week,
but none are known to have been made
up to this time. The actual rates for
sterling exchange showed a decline Of &c
from last nights close, fo~reshadowing a
further gold movement. Otherwise there
was nothing in the news OF the day to
change the general situation and the
striking movement of prices can only be
ascrlbed to purely technical causes, Net
gains are near a point In many promi-
nent railroad shares and extend to 2
points In Omaha and Delaware &C. Hud-
son and ~ in Northern Pacific prefer
red.
Bonds showed weakness in the early
trading, but recovered sharply In sym
patty with stocks, Total sales wera
81, 100, 900. Government bonds were firm
and unchanged.
Evening Posts London financial ca
blegram:
The stock markets were Idle to-day ex-
cept West Australian mines, which were
good. The only feature was the sharp
slump In Americans, almost entirely OF
New York selling both there and here.
The Paris and Berlin markets were
dull.
The total sales of stocks to-day we're
$4,000 shares.