The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-09-28
FINANCE AND TRADE
Tho Features OF the Money and Stool
Markets.

markets.
NEW YORK, Sept. 27.-Money on call
easier at eos per cent; last loan 2la per
cent; closed at 2k@3 per cent. Prime
mercantile paper 4H@5 per cent. ster-
ling exchange strong, with actual bust
ness in bankers bills at 81 S5a4 S5B for
demand and 81 S2%@i SO for sixty days
Posted rates 81 SSizG4 81 and 81 sea
S6i9. Commercial bills 81 SlhG4 81.
Silver certificates 5Gd5Sc Bar silver SEC.
Mexican dollars 43hc,
The stock market to-day showed q
very marked falling off In activity, the
total sales OF stocks reaching only 31O,-
900 shares. The diminished activity was
in part due to the observance of the
Jewish new year holiday by many bro
kers and operators. But there was be-
sides a disposition on the part of many
large interests which have recently
been active in the market 70 stand aside
for the time being and allow prices to
take their own course The professional
element, which has now very generally
espoused the bear side were not active
to-day. Prices rose after tile opening In
sympathy with the quotations received
from London, and there was buying al
so for London account here, Later some
traders protested to be disappointed at
the size of the increase shown in the
August gross earnings of Omaha and
that stock was sold down sharply. The
decrease in the freight TONNAGE shipped
eastward from Chicago last week was
also used as an argument for a de-
preston OF prices. Rock Island was one
of the stocks under special pressure,
The market Teceded below Saturdays
close under the influences, the decline
in Rock Island extending to IA per cent
but only to fractional amounts in other
stocks. There was also a recession
from the best at the close, so that the
extreme advances during the day con-
slderably exceeded the net gain, All the
general news continued to favor ad-
vancinE prices and free from profess
slonal pressure, the market advanced In
the afternoon to the highest point Of the
day. The money market continued to
attract the greatest share OF interest as
the future course Of speculation Is felt
to largely depend on the supplies Of
money. The tone of the market was
somewhat easier to-day, bus owing to
the lack of animation in the stock mar
ket, there was little demand. Shipments
of currency to the interior continue In
large volume and 1t is believed this de-
mand will not be exhausted for some
time vet. Several OF the leading banks
in the city already show theIr reserve
reduced below the % per cent limit ana
several others have almost exhausted
their surplus reserve. 1t Is believed that
further contraction Of loans to con-
siderable amount will be necessary to
provide against Withdrawals for use in
the interior. In looking Tor relief from
possible stringency 60 imports Of gold 1t
Is felt that the comparative ease Of the
London money market must be consld-
cred as In some sort fictitious the rate
being kept down with the purpose Of
aiding the Indian government In float
Ing its loan. Russia and Austria-liun-
gary continue an active competition for
gold. and there Is large balance In the
Bank of England. which Japan has the
power to Withdraw. London, in fact.
fears dear money, and It rs believed
Withdrawals OF gold on large scale for
shipment TO the United states VIII pre-
Cipitate sharp rise In the rates for mo-
ney and would thus Induce the leaving
OF funds there by American creditors
unless the increase In money rates here
was sufficient to counterfeit this c0ndi-
tiOn,
The foreclosure sale OF the Union Pa
cinc and the withdrawal OF F3O.OOOOOO or
100000, 900 Of cash which It will ncccs-
state, is n matter that looms IN the
perspective Of the money market sItua-
ton. Under these conditions II vs. be-
leved there will not be Immediately any
such resumption OF activity In stock
speculation aR has characterized the
market for many months past TO-dly's
advances run from n fraction to over a
point IN the active shares Consolidated
Gas rising A. Sugar and Pittsburgh
Cincinnati, Chicago & ST Louis prefer.
red 3lA per cent; Minneapolis Il st.
Louis lost ~ per cent, and Baltimore Il
Ohio n point
Railway bonds declined early In avm-
patty with stocks, but recovered later
Total sales 2hO0OOO
United States ~ coupon Of 1907, ad-
ynnCed y per cent bid
The total sales OF stocks to-day, we're
372 $50 shares
Evening PotsB London financial ca
bogrnm!
The stock market was idle here to-
dnv, pending the settlement which be-
Gins tomorrow and the Hebrew hol-
day. The tone however, was atondy
Americans opened dull on the New York
lead and then ratified To over the parity,
on German buying. Then New York
sold this afternoon, notably Atchleon
adjustment and prices were merely
steady Mt the close
BE options fail due Tomorrow on
Louisville, ~ Pau and others. and In
namuch nH profits wcro secured some.
time ago, those shares win not have
To hc taken I'M they VIII therefore,
probably bo less scarce Tor delivery Than
N Che last account.
me RnlnA settlement tusdnV was
toalureIaha' haleA were fairy sllfl, 40