The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-09-24
FINANCE AND TRADE
The Features OF the Money and Stool.
MaFkeIa.

The Features or the Money and Stock
Markets.
NEW YORK, Sept. 23.-Money on call
firm at 99S per cent; last loan 2 per
cent; closed at 292Itc. Prime mercantile
paper 4A95 per cent, Sterling exchange
steady, with actual business in bankers
bills at "a $500 S4S for demand and
at "a S2%94 S91s for sixty days. Posted
rates "a sSa4 81 and 81 S51sG4 Ss. Com
mercial bills 81 81. Silver certificates
$3.50 Bar silver 56%c. Mexican dol
lars 43c.
The recovery in prices which began
yesterday was continued to-day during
the earlier part OF the session of the
stock exchange and the advance of
prices OF all stocks was apparently in
full force again until the afternoon,
when the support seemed to be with
drawn from the market and prices fell
away to a general level below last
nights close. The rise was stimulated
by the announcement that local bank
had engaged Sl,0OO,OO0 in gold in France
for import to this country making a
total with yesterdays engagement of
| s., 800 900 gold due to arrive. Receipts OF
gold reported from San Francisco as ar
irving there from Australia also helped
the recovery. The action Of the Bank
of England in advancing rs rate OF dis
count y per cent to 2ls per cent, was
anticipated In view OF the continued
depletion OF its gold holdings and the
additional strength of yesterdays with
drawal for shipment TO this country.
Yesterdays rise In prices had stlmula-
ted the placing OF some outside orders
with commission houses and their ex-
ecution was the sustaining factor dur
ing the morning. The strength OF SUI
gar which rose nearly four points on the
reported extension OF the treasury de-
partmeut to apply the countervailing
duty on Dutch refined sugars" helped
along the rise. There was support af-
forded the market all through by heavy
buying of some OF the bull operators,
who have been conspicuous In the re-
cent rise. The effect of the gold import
movement was largely dssipated dur
ing the day by a skeptlclsm as TO Its
natural character. The exchange bank
ers VINO usually handle the movement
OF gold, both import and export, were
unanimous in the opinion that at the
ruling rate OF sterling and continental
exchange here and OF gold In London
and Paris, there was no profit In the
importation OF gold and the figures Of
most OF them would indicate quite a
heavy loss on the operation Much curl
oslty was expressed as to the Identity
of the clients for whom the banks are
| making the Importation and the opinion
was quite freely expressed that the OPP
Grafton was designed entirely 60 In
ruence the price OF stocks. The failure
| OF the exchange market 20 harden un-
| der the announcement was quite notice
able. Equally so was the continued
nrmness OF rates for call money, which
became pretty well established on the
| basis of 3 per cent. As these conditions
became more clearly defined the upward
| movement Of prices became checked
and there was periods of dullness fol-
| lowed by a steady decline to the close
| the upward course OF the morning ne
| ing almost exactly retraced In the at-
| ternoon, so that the net changes for the
| dav only exceed fraction In a small
| number Of cases. The advance OF the
morning ranged from | 90 points in
| nearly all OF the active shares. Besides
| the sharp rise In Sugar, Consolidated
| Gas mt one time was GA points up and
| BROOKLYN Union Gas nearly q points
| There was other gains exceeding the
| average. but none OF them were retain
cd except Hooking Valley, Delaware Il
| Hudson. Pittsburgh, Cinclnnat,Chicag
| g 81. Louis, LaClede Gas and Susque-
| hanna n Western preferred, which
| roinod "A polnt or over The losses also
| which were numerous were confined TO
| fractions except IN the case Of Brooklyn
IfnIon Gas and Baltimore 4 Ohio among
| the active stocks. Among the less ac-
| tive stocks gains Of point or over were
| shown by Cotton oil preferred, Lake
| shore. Minneapolis a. st. Louis ~: do
| on second preferred: Norfolk a. West
ern nreferred: oregon Navigation pre-
| Serred and Pullman, Rumors were dls-
semInated late In the day that further
engagements for gold for Import had
been made. but they exercised no IN
nucrcc on the market ,
Dealing in bonds showed falling off
in volume and prices moved In gym
pathy with stocks. Total sales E'SOO'-
600 ,.., :, ,o,
The total sales OF stock to-day were
81 400 shares. ,..,.,
Evening Posts London financial ca.
blegram; a..
Tho change in the discount rate OF the
unnl, of England announced to-day mac
mo- effect on the stock markets, haVinl
hccn fully anticipated Indeed, II ls be-
! llpvcd that the rate would have beer
rnIsed 10 q per cent, but for the fact thai
| tho treasury bills amounting to $4,000
0OO arc 10 be issued next week
The feature IN the markets to-day
was Tho speedy revival IN Americans
tho disposition As cablcd here ana ~
Tho continent 10 buy on decline belhl
unmIglnknblc to-day Prices closed ~
lhp host. Union Pacific ana llcadlnl
Wcrc especially strong Grand Trunl
and CANADA Pacific were also Boou
Mines we're better.
opinions na 10 the date ~ nc mex
shipment NJ gold to New YORK dllrl
Widely. Every one IN saying mat ih'
movement is entirely exceptional hn'
wlll probably lot be repeated, but th'
thrcwd oncH prhfcr TO hold their opln
Ions IN suspense pending the course q
Inc New York money market,
| Details VI the gold movement Tor lh'