The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-10-25
FINANCE AND TRADE.
The Feature, OF the Money aud stock
Markets.


NEW YORK, Oct. 2S-Money on call
easy at per cent. Prime mercantile
paper, iGHs per cent; sterling ex-
change firm, With actual business in
bankers bills ut 81 So for demand and
at 81 SPY for sixty days; posted rates,
81 S3qi S3tl and 81 SO; commercial bills,
81 81: bar silver, 5Sbc Mexican dol.
lars. i5c.
To-daY's security market was IN
tensely dull throughout The only bus.
mess done was by professional traders
and this included some selling for for.
elEn account Some Of the selling
represented the placing of shori
contracts by bear traders. who argued
that the danger Of the Cuban question
leading TO strained relations with Spain
indicated that prices would decline.
The Sunday interval before trading VIII
be resumed made these operators eau
tious In their ventures for fear of de-
velopments that may change the sltua-
tion before Monday. The disposition
to restrict operations for short turns
was very obvious, and the only move
ment OF prices seemed to be due to pro-
fesslonal manipulations. The total sales
were less than 10000 shares, a figure
lower than for any Saturday In months.
The greater part of these shares were
OF shares of industrial speclaltles, the
railway list being decidedly neglected.
Some firmness was manifest in the
granger shares on the theory that they
viii beReBt from favorable decision
In the Nebraska maximum freight rate
case, which Is expected from the SUI
preme court on Monday-that Is 60 say,
decision denying the right Of the
state of Nebraska TO fix maximum
freight charges by the railways. Sugar
displayed some strength during the
dag and closed with small net gain.
Chicago Gas and Union Pacific were
the only stocks traded In to the extent
Of more than 10000 shares The latter
was weak on the doubt cast upon tho
success Of the reorganization plan by
talk Of the opposition syndicate. which
continues to be talked OF In an Hide
fined way. Net losses are general, but
reach point or over In only n few
cases,
The Increase OF the surplus reserve
OF the banks OF s.. 200, 200. even with the
legal reserve point raised by nm in
tItUkf III NNI'NlANI was llph NuhNNNh an
favorable factor In the stock mar
ket, though It narrowly tends to case
In che money market and to strengthen
the position OF the banks technically.
The Increase In the holdings Of actual
cash was fS,62S,6O0. the gold arriving
from Europe last Friday aud Saturday
being included. The liquidation Of loans
IN spite OF this easy condition reached
the large total OF SG,9ii,GOO. This was In
large part due 90 the buying Of com
merclal paper In this market by west
crn banks. choice single named short
paper having been placed with a CHI
cago bank during the week at 3A per
cont, according to a prominent author
nv. Numerous other western cenlerH
have offered money Ia New York, aud
their deposits are reported to be high
on account Of large payments OF In
debtedness by farmers and western
bualncsa men. who have rcniigcd on
thclr grain crop The quick movement
NJ the grain crop has led to an eatly
cessation Of the demand for funds for
that purpose and the interruption Of
tho movement Of the cotton crop defcrs
the demand from that quarter The
release ef FUNDS lH New York as q con-
sequence has led 10 n marked easing
" the money market. call loans ycstcr'
day nnd to-day being offered In nbund.
nncc Mt 2 per cent ana In some cnseA
below that The money market N al
most plolhorlc, and the falling on FOR
funds IN not looked upon In Wall street
na an altogether favorable indication
NJ The progress of general business II
n reported that movement IN on foot
among New Yatk banks Ca reduce the
Interest they nay On balances NJ oDt.0f.
town hinkr from 10 ~ por cent This
condition VI the domoatlC money mar