The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-09-23
FINANCE AND TRADE
Ths Features or the Money aud stock
Markets.

NEW YoRK-Money on call strong
at 2Gl4 per cent; last loan per cent;
closed offered at per cent Prime mer-
camille paper 4d4a per cent. Sterling
exchange heavy with actual business in
bankers bills at 81 "a for demand and
at 81 S2h@4 S2% for 60 days. Posted
rates 4 S3Is614 81 and 4 S5R@i S6ls.
Commercial bills sly, Silver certih-
Gates 5sh 959kc. Bar silver 5SIsc, Mexi-
can dollars 43iac.
The result Of to-day's transactions on
the stock exchange resulted in the re-
cOvery OF the greater part of the losses
sustained In yesterdays sharp reaction,
many stocks closing tonight higher
than Monday night. During the early
part of the day the market was eX-
tremely irregular and uncertain in tone,
a number OF specalties continuing to
show marked weakness even after the
railroad list had recovered from Its re-
dictionary tendency. But by the second
hour Of trading the bears had practical
ly abandoned their efforts to work n re-
action and the whole market was tend
ing strongly upward. The manifest
disposition Of London operators and OF
| commission house customers to buy
stocks at a decline Afforded another
kuDDNIl 10 Int IlldIhtA AHdA ahNA
the bears. The nervousness over the
hardening OF the rates for money also
largely subsidized as the shifting of loans
developed more accurately the true
level OF the money market, The rates for
call money continued to run as high as
| 4 per cent, but as fast as rates were
marked up to per cent, there was
, abundant supply offered at as low as
per cent. This was not regarded as in
dIcatlng n stringent condition OF the
! market. The higher rate was not felt
to be justified by the condition Of the
market and the failure of the exchange
market to respond with any marked
| weakness to the per cent asking rate
went to confirm the same view. There
was a marked reaction at one time dur
| ing the day due to the sharp profit taxi
| ing in Rock Island on the announce
| ment OF declaration of ! per cent
quarterly dividend The recent sharp
rise In Rock Island was accompanied
by some irresponsible rumors that the
dividend rate would be increased to
per cent. Some OF the sellers OF the
stock professcd disappointment that
the rate was made only per cent, and
the bears used this as material for n
drive against the market. But the
strong recovery in Consolidated Gas
and Brooklyn Union. the former rising
# points and the latter 6A, tended to
steady the market The reports of an
engagement OF gold for import were
vague and not definitely confirmed un-
til the close of the market, but the ru-
mors current served to rally the whole
market strongly and bring prices to the
best of the day at the close the net
gains in all of the active stocks ranging
from TO points. Foreign bankers are
generally agreed that there is no profit
I'm the Importation Of gold at the ruling
rates of exchange here and OF gold
abroad and the banking house which
has engaged the gold for import
intlmates that they have been able to
do go owing TO some special advantage
secured though confirmed that made in
the regular course Of exchange bust
ness The engagement Is not considered
"a Indicating that a further movement
Of gold will Immediately follow without
n further decline in the exchange mar
ket. The most marked net gains during
the day were Consolidated Gas, rs;
Brooklyn Union Gas, 81; Sugar, AZ do
preferred, "a. Brooklyn Transit, ~;
New Jersey Central, 3%, and North
west, Omaha and Susquehanna IL Wes-
tern preferred, "a each.
The bond market showed some falling
on In activity. but prices we're strong
except in the Standard Rope Issues. or
these the skies lost six points and the
incomes ~. The total sales we're $2,SOO'-
900.
The total sales of stocks to-day were
2i60O shares.
Evening Posts London's financial
cablegram:
Tho stock markets were generally dun
to-day. Americans. however. rallied
sharply nt the close on the news OF the
wllhdrawal Of gold from the Bank OF
England for shipment to New York and
prices closed strong and at the best.
The Paris bourse was dull, early on the
Spanish affairs, but closed better. Ber-
lin was steady.