The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-12-17
FINANCE AND TRADE
This Features OF the Money ana stocl,
Markets.

thb feNtuTcA OF inc money ana STOCK
Markets.
NEW YORK, Dec, 1e-Money on call
easier at 1S@S per cent. last loan per
cent; closed offered at 1% per cent,
lrime mercantile paper 3G4 per cent.
Sterling exchange weak with actual
business in bankers bills at 81 S47s0
IS for demand and at 81 S2ls for 60
days; posted rates 81 SSG4 81 and 81 Sc
"a 81. Commercial bills 81 sig. Silver
certificates 56%d57%c Bar silver 55&c.
Mexican dollars 45Nc.
The hardening OF the rate for call
money has taken the heart out of spec
uatlon in securities for the time being.
The rate for call money held firm at
3 per cent. all day to-day until near the
close of the stock market, when there
We're transactions at per cent. with
offerings at ~ per cent. The Union
Pacific reorganization committee to-day
paid into the sub-treaSury $S,6OO.OOO in
cash, the credit balance or that institu-
ton At the clearing house being 81, G77,
IS9. 1t is the general belief In banking
circles that call money VIII not yield
below 3 per cent. before the end Of the
year, and may rule higher. The acCu-
mutation OF funds In anticipation in
January disbursements OF dividends and
interest Will make further demand on
the money market. Bankers deprecate
the idea that there is any stringency
OF money In prospect in view OF the fact
that the government vii! redeem the
currency skies to the amount Of over
S29,OOO,OOO on December "a before the
next lnstallment Is due on the Union
Pacific payment. Rates for time money
for the shorter periods We're marked
up to-day as well as those for call
money, the quotations being 3isd4 per
cent. for sixty and ninety days Al
though there is still some movement OF
currency to points In the south and
west, the stiffenlng Of the money rate
here was reflected in n rise In the rates
OF domestic exchange on New York at
Interior points. The rates for sterling
exchange also responded sharply, post
ed rates falling * cent and actual
rates Is of cent This was q very clear
indication OF the resources at command
both In the large credits abroad and in
the abundance of money In the Interior
deposits being reported to be of unpre-
cedented volume and prices Of gilt-edged
securities for investment Mt the highest
level known Both deposits and loans
of New York clearing house banks are
at high water mark the FORMER amount
ing on Saturday to s67j, 1863, 300 and the
latter 1901 72j. 600. The loans include a
less amount Of time loans than usual,
and New York banks also have rather
light holdings OF commercial paper.
The proportion Of money In call loans
is the largest on record The calling OF
some Of these loans has apparently put
some stock exchange operators to in
convenience but there Is not yet APP
parent any very strenuous demand for
money. II is the opinion OF Wall street
that large operators about completed
the taking of profits yesterday and are
ready for a decline. There were some
further evidences Of liquidation to-day
oEd little evidence OF support outside
the cOalerH and one or two of the spe-
cal.ies. The agreement to restrict the
output OF coal strengthened this group,
especially New Jersey Central, In which
the outstanding short interest was
large, and IL was the scramble TO cover
which caused feverlsh fluctuations in
that stock over a range OF nearly 3
points. Its net gain was 3A and other
members Of the group also show&
sharp gains Manhattan showed some
recovery from yesterdays weakness on
rumoTs OF intended extension OF the sys-
TEN. Prices OF many stocks rose at one
time above yesterdays closing level,
but all weakened before the close, The
extreme declines In great many cases
were II point or over and in some cases
net losses exceeded a point. Sugar was
the principal centre Of depression and
closed Ia lower. Selling for London ac-
count helped on the reaction CleVe-
land. Cincinnati, Chicago & st. Louis
loses Y per cent
The bond market was fairly active
and was trllle easier on the late deal
lngs. Total sales 81. $50 900.
u. S. new ~ are u lower bid.
Evening Posts London financial ca
blcgram;
Yesterdays optimism was slightly
checked at the opening Of the stock
markets here to-day and IN the absence
Of public support u Bllght set back IN
prices followed notably In home rails.
Tho dullneSs was short lived, however,
ard although the markets are attn
mainly professional, they have an OK
ccllent uudertonG, especially consider
INK the period Of the year
Americans were Irregular, but of good
tone generally,
DnSDB AND gTOCK QUOTATIONS