The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-07-09
FINANCE AND TRADE
This Features Of the Money aud stoel
Markets.


Markets.
NEW YORK, July s.--Money on call
easy at 19lBs per cent; last loan ~
per cent? closed at 191h per cent,
Prime mercantile paper Sa4 per cent,
Sterling exchange Arm, with actual
business in bankers bills at 81 81 for
demand. 81 S5%G4 Sc for sixty days,
Posted rates 81 SsmGi SSM. Commercial
paper 81 IS. silver certificates $3.50
SOIc. Bar silver 6ONc. Mexican dol
lars 4shc.
roAt-taklng was the order OF the
day In the stock market The sending
of the tariff bill 20 conference ends the
senate stage OF the bill. the termination
of which has formed the subject for
speculation In the recent market. The
termination Is regarded as a favorable
influence on values, but having been
previously discounted, realizing sales
were 20 be looked for In the natural or
der OF things. The reaction did not de-
velop Immediately at the opening, ow-
ing to several sustaining influences.
The sugar refining industry's special
interest In the tariff bill made that
stock sensitive to Washington reports
as to the chances OF the sugar schedule
In the conference. These reports var
led all day as a matter OF course, but
carried sugar up at the opening. The
grangers and international stocks also
opened with an upward tendency, The
former group enjoyed an impetus also
from the announcement by the refund
Ing committee of the Chicago and
Northwestern directors of that COM
pany had authorized u mortgage for
si65. 900, 900 to run ninety years. A mark
cd Improvement about the same time in
a group OF usually inactive securities
due TO marked operations by an inter-
est which has large holdings In each OF
the group was a further influence to-
wards an advance as was the special
strength shown in some other individ-
ual stocks. Those combined influences
resulted In a rally after the first decline
that carried prices generally to the
highest OF the day and st. Paul TO Si%.
the highest OF the present movement.
The Influences were OF only temporary
effect, however, In checking the re-
dictionary tendency OF the market and
In fact served only to nccentuate the
desire 10 take profits. The realizing
was based both on the passage OF the
tariff bill by the senate and on the con-
tlnued belief In the elimination Of the
long turn the market has made on gem
eral conditions OF business. There were
traders, also, who expressed their dis
appointment that the Presidents mes
sage recommending n currency COM
mission had been deferred and that the
authorization OF the commission with
the membership OF the senate as at pre-
sent was unlikely. Such traders gave
these as their reasons for selling stocks.
There was an increase OF activity In the
dealings over both yesterday and the
day before, but quite one-halt the deal
ings were absorbed by st. Paul, Sugar
and Burlington. Chicago, Great West
ern, Des Molnes & Fort Dodge and
Minneapolis Il st. Louis were quite con-
spicuous and strong as group, The
first gained ~ net and the second two
points. East River Gas made an up
parently sensational jump In the clos
Ing dealings to 1854 per cent. net
gain OF 81 points. but It was reflec-
ton Of n rise effected in outside trans
actions on the curb. Laclede Gas gain
Oh ia Nor cent and do preferred and
Starcb second preferred a point each.
otbortvIse losses OF fraction were
General ali through the list. reaching
nsor n polnt in many monument stocks.
swear iost ia nor cont Burllngton ~
nsr 'Scnt ana soIrlts ureferred. rubber
prafarred ma Western Union point
sacb '' $500
The bond market lacked feature aside
80, - ~, ,,n.ia.tors Il, ,bc In