The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-09-14
FINANCE AND TRADE
The Features Of the Money and stock
Markets.


cent; closed at lhG2 per cent, Prime
mercantile paper sAq4ls per cent
Sterling exchange weak, with actual
business In bankers bills at 81 S5ha
4 s5ss for demand and 81 sahG4 s34s for
sixty days. Posted rates 81 siG4 $50
4 s6Md4 81. Commercial bills 81 50. Sill
yer certificates 545d55is. Bar silver
56Ikc. Mexican dollars i3iac.
The most interesting fact connected
with to-day's stock market was that the
principal support accorded the market
was through buying orders cabled from
London. The buying by commission
houses here was good, but aside from
that the local operators sold heavlly,not
only here, but In London. The check In
the decline here was credited to London
buying and the London fayorltes dis
played the greatest stolldness until too
late for London dealings. Altogether
London bought $4,000 shares. The stocks
most largely bought by London were
ST, Paul, Kansas & Texas preferred,
Union Pacific and Southern preferred.
II It had not been for the upward ten
dency Of prices at the opening In SYM
Udl8lN WIN Allt AAhlAihh AhhkhhAOllot ~ -
probable thN net declines would be
much greater than they are. Thus the
extreme decline In Burlington was two
points, In Missouri Pacific 2b per cent,
in st. Paul, Rock Island and Northern
Pacific preferred rs per cent, Manhat-
tan 2A per cent, Mobile and Ohio 2h
per cent, and In a large number Of
shares over point, The rise at the
opening and partial recovery at the
close makes the net losses less than
this, but the average In the active stocks
Is little less than a point. The good in
fluence OF the extra dividend last week
on St, Paul was the cause Of the Lon
don buying, The New York selling was
attributed to yellow fever and to an
apprehension that the Cuban question
would again assume an acute phase at
the cabinet meeting tomorrow. 1t was
somewhat notable, however, that Louis
vile, which has shown most sensitive
ness to yellow fever reports, closes with
small gain. That some enormous
speculative holdings were in course OF
liquidation to-day was obvious and
there is little ground to doubt that the
owners were lmpelled to take profits by
conviction that prices have fully at
tended a level commensurate with de-
velopments affecting the value and the
earning power OF the properties. The
decline was encouraged as much as
possible by the bears aud the effect of
fierce raids was evident In number OF
prominent stocks. The bulls made an ef-
fort to check the decline by pushing
Omaha, Kansas & Texas preferred and
Northwest, but were only partially sue
cessful. Omaha was lifted 2A per cent;
Kansas & Texas preferred, the same
amount and Northwest IL per cent, All
three reacted sharply, but were left
with substantial net gains quite q
firm tone also was evident In the coal
ers and the group closed fractionally
| higher. Tennessee Coal and Minnesota
, Iron were markedly heavy. Illinois
Steel and Colorado Coal made sharp
gains. Local Gas stocks showed weak
ness, East River declining So and
Brooklyn Union two points. The indus
trial stocks generally shared In the
| weakness OF the market, Lead leading
the decline with loss of two points.
Features of the day were fall of &c In
the actual rate of sterling exchange aud
a hardening of the rate for call loans to
per cent, with exceptions at 2h per
cent. Silver scored further sharp re.
coVery Of llsc in New York and Is PEN
ny In London.
Speculative mortgages scored sharp
declines. but high priced bonds held
firm. Total sales $3,GOO,OOO
United States new As declined x in
the bid price, t...
Evening Posts London financial ca
blegram:
In the stock market to-day Americans
opened firm and above the parity and
rose steadily until New York sen, or
ders to SELL when the course OF prices
was reversed and the closing was irreg-
uiar So far as London Is concerned,
confidence in the future Of the market
for Americans seems to be growing.
At the settlement, stock was none too
plentiful, the Contango averaged SA
per cent.
The other markets were fairly good.
with Grand Trunk and other Canadian
stocks still rising,
The Bank of England to-day sold a
further 1900 pounds In gold for expor;
to Russia. the transaction being ar
ranged through Berlin.
The Paris bourse was quietly steady,
and the Berlin market firm.
BONDS AND STOCK QUOTATIONS.