The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-09-02
FINANCE AND TRADr.
Thu Features OF ,he MONEY aud stool
Markets..

IIlIne mercantile paper oi2Ntf2 per eells'
Sterling exchange firm, with actual husl-
ness In bankers bills al 81 S5%s for de-
mand and at 81 S3lsG4 sSA for 60 days
Posted rates "a Glaq4 S5E and 81 S6lsg
4 81. Commercial bills 81 S2h@i S2is'
Silver certificates ole. Bar silver SlAe'
Mexican dollars Ale.
The indications from to-dny's market
were that prices generally would suffer a
material reaction had II not been for the
stimulating effect OF the sensational adj
vances shown by individual stocks,
Buyers were evidently possessed by a
furore Of speculation and the difficulty
OF moving the prices of most OF the lead
ing railroad shares led TO those securities
being comparatively neglected, Stocks
concerning which some favorable pros
pect was reported but without definite
details and not backed by authority were
crosen as the faYorites in the speculation
The sensation OF the day was the jump
in the price of Omaha, the stock touch
ing S2is In the final transactions. The ex-
treme rise was 1914 points, and the net
gain a point less, The stock was not ex
empt from depression, which weighed OF
the grangers and In fact on most OF the
list during the early part Of the day and
Il sold down 40 from last nights close,
BY o'clock, II had recovered the loss
and gained over points addition, But
in little more than an hour of the latter
part OF the day the price mounted Z
points and was In full tide Of the advance
when dealings ceased, The trading was
attended by great excitement and the
passes In the advance were only momen-
tary and at wide changes. The rise was
due to belief that the stock will shortly
be placed on a regular dividend basis, the
size of the proposed dividend forming the
subject of the excited speculation,
Northwest, which Is In the relation of
parent property to Omaha, improved in
sympathy but reacted partially while
Omaha was stiii strongly advancing.
Sugar also continued to be an exciting
center OF speculation during the morning
and advanced points on rumors of q
distribution OF surplus and OF advan-
tages to accrue from exclusion Of Dutch
refined sugars.
Tobacco also opened nearly points
higher, but this was also the highest of
the day. The two stocks fluctuated in q
very erratlc manner all day, but closed
with q net gain OF only &c for Sugar and
&c for Tobacco. Missouri Pacific touch
ed 40 In the opening transactions, but fell
off during the day on realizing to below
last nights close. The coaiers made
some display OF strength during the day,
especially the Reading stocks, but they
succumbed to depression later. Rock
Island also advanced at one time over n
point above the lowest, as did Louisville
& Nashville, but the latter declined be-
low Yesterdays price and the former
saved only n fractional net gain. With
these exceptions the railroad list was al
most wholly given over to depression.
The days changes are small. a large
number OF stocks closing unchanged, but
the majority of active issues show losses
extending to q per cent in Northern Pa
ciiic preferred on It's poor show of earn.
lngs. Railroad stocks that showed sharp
gains were Chicago &c Eastern Illinois
preferred and Great Northern preferred
red, Mobile & Ohio, st. Joe & Grand
ISland first preferred and ST. Paul & Du-
luth, The industrial stocks as q rule
showed gains. notably In the cotton oil
stocks. Sugar preferred, Local gas
stocks General Electric, Metropolitan
Traction, National Lead, National Starch,
Leather preferred and Oregon Naviga-
ton, LaClede Gas lost over a point and
Detroit Gas per cent.
The bond market showed some falling
off In activity, the par value of bonds
sold amounting 20 about s3,S0O,OOO. Prices
were generally higher.
U. S. As registered sold at 1g6Bs. the
highest price recorded. The as coupons
sold at 1879 to ia. Total sales SllO. 900.
The total sales OF stocks to-day were
55S.7i2 shares.
Evening Posts London financial cable
gram:
The very bad weather to-day dampen-
ed all the stock markets, which closed
dull on the withdrawal OF large amount
OF gold from the Bank OF England for
Russia or Austria Is Ii uncertain which.
The Indian government has stopped the
sale of consul drafts for ten weeks on ac-
count of the state of their balances In
India. This means higher exchange
rate, with possible gold exports when ex-
change touches Is pence. These two
points may cause a rise In the bank rate
tomorrow, but viii not express a
strong opinion on this. Until the gold
Withdrawals were known. the market
had anticipated no rise In the bank rate.
Now It Is an even chance, but | should
say that a rise OF half per cent would
have no bad effect on the markets and
rise Of per cent very little effect. Amerl-
cans were good during the day, but
closed easier with nothing doing.
The Paris bourse was dull much Of the
day but closed better. No difficulties 80
far have appeared in the settlement. The
Berlin market was quiet.
BONDS AN DSTOCK QUOTATIONS