The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-08-19
FINANCE AND TRADE
The Features or the Money aud Stock
Markets.

NEW YORK, Aug. 1S,-Money on call
easy at 1Q1h per cent; last loan IL
per cent; closed at 1a1H per cent.
Prime mercantile paper ShG4ls per
cent. Sterling exchange flrmeT with
actual business in bankers bills at
81 S5SGl4 ssh for demand and at 81 S37s
"a say for 60 days. Posted rates 81 SAY
al SO and 81 S5IsQ4 81 Commercial
bills 81 S2lsG4 So. Silver certificates
541sc. Bar silver 52hc. Mexican dol
lars Ale.
The greater part OF the days pro-
ceedings on the floor OF the stock ex-
change consisted OF a kind OF fencing
for position and to develop the position
OF the opposing elements. The bulls
were not In an aggressive mood and
there was not at any time during the
day an active buying demand, The
bulls were In n waiting mood and their
position was rather defensive. The in
VitatiOn to attack thus afforded was ac-
cepted by the bears and their efforts to
pTecIpitate o decline We're unwearled.
They succeeded in keeping prices slight
~ below the level OF last nights close
during large part Of the day, after q
higher opening, but hardening ten
dency Just before the close brought the
market back to n level above last
nights close. The heaviness was caus-
ed In part by talk Of crop damage In the
west and was In larger part due TO
doubt as to whether the rise in prices
had not reached n sufficiently high
level to fairly discount the conditions,
present and prospective. which brought
Il, though the short selling by the bears
was supplemented by some profit taxi
ing sales, but the volume of stop loss
orders dislodged was not large. The
aim OF the bears always Is to reach
these stop loss orders and not precipl-
tate heavy selling movement. But
they have to count, also, on the buttress
effect of conditional orders to buy at
lower level and on u descending scale
which underlle many OF the prominent
stocks in the market. A bear raid to be
successful must dislOdge stop loss or
ders In such quantity that they cannot
be absorbed by these buying orders.
The bears encountered this obstacle Mt
a very early stage OF the decline to-day.
Some adverse effect was produced upon
prices by the hardening In the rates Of
sterling exchange and there was some
disposition TO discount the effect OF
early importatlons of gold in the buy
ing OF stocks. The course OF exchange
to-day In response TO the hardening Of
the discount rate In London and be-
lief that the Bank OF England's mini
mum rate OF discount would be raised
to-day. Sugar was actively traded In
and the price moved quite freely over a
range OF more than points and its
late strength was factor In rallylng
the market. The sensational jump in
the wheat market also had n sustaining
influence in the late dealings. The
southwestern railroad stocks were all
notably firm all day and strong In the
late dealings, Missouri Pacific leading
on account of an increase OF $4,000
shown by the earnings for the second
week In August. St. Paul was also
firmer than the average OF the list on
It's second weeks earnings. The net
changes in prices are small In most Of
the active stocks but are mostly gains.
There was a falling of Of over 100000
shares in the volume of trading to-day
as compared with yesterdays and the
transactions In bonds were also much
diminished The days important net
advances: Sugar 2; Chicago a. Eastern
Illinois, Metropolitan Traction, Missouri
Pacific, Nj. g. o., st. +. & d. preferred
1 y and Ann ArbOr preferred, The
principal declines were In Consolidated
Gas, Lackawanna, Illinois Steel, Long
Island New York Central q st. Louis
second preferred. oregon Short Line,
Pullman and Rubber.
The bond market displayed very
flrm tone throughout and did not par
tlClpate In the feverlshness noted In the
stock market Business was rather
light and gains generally trivial. The
aggregate sales were N.i7O,OOO.
Governments were well held with
dealings confined to 5000.
The total sales OF stocks to-day were
335,OOS shares
Evening Posts London financial ca
blegram.
The stock markets opened firm here
to-day but closed rather dull, except for
Americans, where the reverse applies.
The Inactive holiday season IL at It's
height, Hallrs we're better, but the
close was dull. The continued slump In
silver attracts attention and silver
stocks were nat There were vnguo ru-
mors at the close of further bad news
from India. give you the rumor, as II
affected prices, but there In probably no
truth In It.
The paris and Berlin markets were
quiet.
The London discount market Il onslcr
and there are rather fewer American
bills offered since the recent rush.
BpNus AND STOCK QUOTATIONS,
U. 4. q rcRu..,. 0iii orc H. q Nav ~
y Z, g regg,."iillN Pittsburgh .""lgi
| ~. \ " coupon ii2h IitpndinE u.p,p slNa
| H. ~ New NJ reg l2lN Rock Island 900 NJ
| H. $. New " cOu,l2iA ~, Pnulru.y. His
| u, X. ~ Fcg.atsiiUtt 10 pfpfrffrd .HlA
| H. X ~ coupon .ll1tlHt T.. a omaha Giis
| Pacific Ga OF y. iO2 do preferred u,li3
| AtChlHau ........ tt1tIgouthetu pAC,, 10y
do preferred . 3lR.TcNnH q pncu,. i9A
lal 4 Ohlo.,. iigIl'nOn Paulnc., l2t
| can Pacific ..,u i0N, Wabash ,auys, a.,
| Gnn. Southern. Hh do preferred, ist,
| Central pnclnc. l9h WheOlF A l.. w. 2it
| Chca. n Ohlu.,. 2ib. do proferro1u 10
| chi a Alton Ito Adams ENptosalil
| chi. llur n o., 0GM|Amuflcnn ENulli
| e. a. q. 4 Bt l.. 20 In. y Express "
40 pfpfOffe1 N Wells fnrgUuu4lW
| Del. \ Hudson Ms Am HpltliH,.u VI
| Dpl.. Lack & W 100 do Preferred g3t
| bon n tito II Old. igH'hm Tobacco. 900. Wl
do preferred, Wa. do preferred .ll2l
| l1flo ineWjs4a II Ithlcngu HlHHtlUt'l
An Hfst pre-. HAItot ~, iron ~
| Fort Wnyneuuuim do pirlotfglu No
| Illinois COhlfnl ,l0ihlOrn Electric, ~
take Erie & ". Il tlHHe|s Woo|tu y,
Lake Rhoro.,n.ijt do preferred. 40
| Lou e En1lt, .. w ,puclUc Mhu.a+. ~
| Nioh Ccniml.ulpi Pullman rblumlll.
! No. paolnouu, aohllllycr Cor"a,. blli