The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-10-02
FINANCE AND TRADE
Ths Features Of the Money and STOCK
Markets.


NEW YORK, Oct. 1.-Money on call
firm at gA@5 per cent. Prime mercan-
tile paper ila@5 per cent, Sterling ex-
change heavy, with actual business In
bankers bills at 81 &sQi SiA for de-
maud ana at s. S2laai S2A for sixty
days. Posted rates 81 S3Ni 81 and 81 S5la
a. &c. Commercial bills 81 81. Silver GER
tlhcates j5& U57iac. Bar silver jjsc.
Mexican dollars i2AC.
The bulls made their first aggressive
stand In over two weeks, and after n
heavy decline in the earlier part OF the
day they came forward to the support
OF the market, checked the decline and
brought the closing prices very gener-
ally above last nights level. There was
nothing In the news Of the day that
could be counted more favorable than
that OF the preceding day or two, and a
sharp stinening In the rates for cal
money during the afternoon had n dis
tlnCtly unfayOrable effect. But 1t had
no effect in preventing the recovery and
the close at practically the highest
point Of the day. Either this was be-
cause the five per cent rate which was
asked was considered artificial and ma
nlpulativc or because confidence was
felt that 1t would result in the prompt
importation OF gold to relieve any prob
able stringenCy A further lowering Of
Nc In the actual rate for demand
sterling 10 s. Slts encouraged this view,
and the probability Of early engage
mont Of gold for import was freely
talked all day. The market was sur
prisngly irregular prices Of some
stocks moving up and down by wide
Jumps, apparently entirely Independent
Of any general tendency in the market.
IN the carly trading the raids OF the
bears on special stocks In each group
WAS successful In depressing the par
tIcuIar group, ard tie whole list by
sympathy. Chicago Gas continued I'M
der heavy pressure, aud moved over n
range Of nearly points. Omaha was
selected IN the granger group. and was
sold down at one time nearly points.
Missouri Pacific was the weak spot In
the southwcstcrrB, and was forced
down IA per cent, And SO on for other
stocks. The tendency Of the liet to
move Independently OF these stocks UNI
der pressure was the first evidence Of
rccupcratlOn Soon afterwards FuH-
taIned buying on a large scale became
evident ana u heavy covering move
moRt by thu bears followed Buying or
drw By thn commission houses also
added TO tho strength Of the market
outside Custmom who had sold short
Joining IN the covering movement.
There was n marked change In the
whole tone of the speculation, the mar
k.t becoming dull whenever the bears
succeeded IN checking the advance. ana
bualu.Hs showed a lively increase whun-
ever the course NJ prices turned up The
railroad earnings reported during the
day continued to show Increases.
Northern pudinc reported an increase
Tor the third week In September at
tl@7ii L0ulRvllc q Naghylllo'a net In
crease for August was tlal,Hg, A atrIk-
Ing result of The recent sharp decline In
the price uf silver was shown In the
August statement of Mexican Central.
While the gross DnrnlngG showed an In
grouse of giGG.93,, the not earnings
allowed u decrease N tl3i.iN ThlH was
due. the nilclulH NJ the railroad OK
plNnol 10 Increased oyprnHpH caused
ny tho higher ratios NJ exchange ON the
United states iu purchase Of material
ana No other outlay London wnB u
buyer IN THIS market nrnln to-day,
sumc ef the stocks whirh showed weak.
ness emily lu the day failed To recover
entirely bui allowed net gains, uR u
rulo rhnglpB from II fraction Ut per