The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-06-14
FINANCE ANp TRADE
Til. Features Of uhr Money aud stosi.
Market.

Market.
NEW YORK. June l2,-Money on call
easy at lGIG per cent. Prime mercan-
tile paper sG4 per cent. Sterling ex-
change dun andsteady, with actual bus
mess In bankers bills at i.s7for demand
and at ass s,GtS5 for 60 days; posted
rates i.S6isEiS7 and 4Ssdis; CONNER
cIal bills 4S5, Bar silver 5s7,. Mexican
dollars AZ.
NEW YORK, Junei2-Sugnrasserted
It's leadership OF the market quite en-
phatically to-day. and the tone OF the
market was almost wholly dependent
upon Developments in a. The obvious
fact that there was selling TO take prof
It's on sugar was the potent influence In
causing realizing sales in other stocks.
The consequence Is an average loss Tor
the DAY In the prices OF stocks. Ihcfe
was vigorous manipulation in sugar TO
hold IL az the highest level, and even TO
raise that level on the strength OF bene-
its to accrue to the company from the
sugar schedule adopted by the senate
But those who have benefited by the
weeks rise in sugar argue that the
present price represents the value TO
The stock from the scnate's action, and
that the best Influence 10 be taken &C
count OF is the conference committee OF
the two house As the action OF this
committee win in all likelihood be less
favorable rather than more favorable
10 the refined sugar industry than Is the
senate schedule. traders were Inclined
10 discount u future fall In price.
There was some short selling IN sugar
IN accordance with this view. in addi-
NtHhERh enF1 hinnl
TO carry the price down nearly points
frorn the highest. The DEALINGS in the
stock represented fully one-iifth or the
total transactions The fall In sugar
carried down prices throughout the lst
and practically Oblitcrated early gains
eycept in n few INSTANCES
The coal stocks were quite notably
strong in the carly dealings. II ~
noteworthy fact that these stocks make
mn the only group in which there is any
short interest after the recent continu-
Gus advance Of prices. This fact mas n"
small part In to-day's strength IN the
stocks, but did not sayethem from teei-
ing the effects Of the late selling move
ment, but not 70 a sufficient extent 10
wine out the carly gain. In fact, New
Jersey Central finally ralliedto near the
top price. which was points above lab'
nights close.
Tobacco was higher on manipulation.
The iow-pricCd shares showed great &c
ttvIty md continued strength, Brook
iyn rand transit leading the Improve
ment with a gain Of IL per cent. IN
the decline which affected the Wh"s
market Kansas & Texas preferred
showed the extreme fall among inc
railways Of a point. The Erangers
were comparatively inactive nndmoNcG
within very narrow limits, but ciOseu
with fractional net losses.
The week Just closed ~ the thltu
showing continued aggressive strength
H. ,bc stock market. The market has
been sustained all week by the 5uchSNH
81 sugar, growing out OF the agreement
~ the caucus OF the senate republican,
unon n sugar schedule which Is YleWeu
With approval by the friends OF tht
surar company. This being the case u
,rns natural that the whole marker
abnuid give way to a degree under lh'
brcok in sugar to-day on realizing safes
RIM the week. nevertheless. represents,
NJ n whole. another step forwaru IN w
Dorgrcss toward a higher range OF VA.
nos which has been going on ever slhty
tho senate took up the hriu bll, any
demonstrated that II coulu uisp"s ~. "
q, ",Jtb reaaonable prdmptltude. rms
La ,J,c decision Of the supreme court
AGAINST the right Of the Interstate COM
r,crrc commission to TX the fallfolu
r,trs rayc the distinct impetus TO the
,,,ari.i whirh has endured ever since
a most striking feature OF the We" cen, .
,,,a,i,c, bna been the comparative lhht-
tjvlty but armncss ut the granssr
stocka. which strongly led the carry I'M
proyemcnt. They have halted uui'Is
tbe pnst week, while other gloup7 aG
the market were taken IN uh"u "'''
otberbrought up TO their level
Tho declaration 81 the uluhl QuIr',ii
10 dividend on Western Union OF ~
nor cont solved long standing huun.
In wall street, and this, together WIN
Inc favorable quarterly staleheh,. y,
the company and the Increased rhi 'i y,
~ Manhattan. served 10 take these ~
,.,ritrs Of the bears out Of their hahuS
,rI tben drive them tu cover lh' ~
-, "r1vth Of the telephone business
y, n,,npetItlon for short distance bust
,gnkes western Unions statement
HIl Inc moro significant In this rarlleu'
lar .,.,t, az IN. stocks OF
rIr,rnplrs has been another indl-
,,Ior al Improving trade condition,
IN IL as,tiuutAhl, to the rise ~ ne
n,Irc Of iron The TACT hr, % =, $500
tn",cascd volume u business IN Wyl'Im
indnstry which followed the break III