The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-01-08
r1EhscE AND TRADE
rh' Feature. q ,ns Money and s.es.

rms Feature. Of iiir Money and stott
Markets.
NEW YORK. Jan. 7.--Money on cali
easler at 2a?Is per cent; last loan 2a
per cent; CLOSED at ?isG3k per cent.
Prime mercantile paper siAGi per cent.
Sterling exchange firm, with actual
business In bankers bills Mt 81 Ssh for
demand and at 81 S2M for co days. Post
ed rates 81 say ga SO. Commercial bills
n, So. Silver certificates 51M U5sc. Bar
diver SIC. Mexican doiiars t5Hc.
Tho market for stocks to-day did not
differ materially from that of yester-
day. Tho aggressive bull mood OF the
speculative world continued In full force
and all the large professional operators
were buyers OF stocks. That they were
re.enforced by q marked addition OF
outside interests in the market was
shown by the large humber OF orders
in speculative stocks placed with the
commission houses. There was also a
continual absorption Of honda OF Glide
scr!ptions. very heavy orders being
placed In the high grace shares as well
as In the speculative Issues and mod,
crate grade bonds. Inc pressure for
funds for reinvestment, which has been
relcaseI by; the January dividend and
Interest payment. was very obvious.
There was also n marked weakening of
the rates for money, notwithstanding
the lively awakening of speculation.
Efforts were made by the banks and
money lenders to keep the rate for
money as high as 8 per cent. Loans
were In fact placed at 3h per cent, but
the rate sagged on 10 2 per cent, and
the last loan OF the day only command
ed ~ per cent. Owners OF money were
also lively bidders for commercial pa
per. This served TO stimulate the spec
ulltive furore which seems to have
broken out. London was quite a large
buyer In this market OF several OF the
International stocks, notably Union Pa
enc and Louisville & Nashville. The
Varderbilts continued to hold the lead
ing place on the reported determination
of the controlling interest In these prop
critics to see traffic rates maintained.
There was also q renewal OF old re-
ports OF a combination Involving these
lines and looking 10 through .rans-con-
tinental traffic. The most conspicuous
movement in the market was that IN
SusQuehanna G. Western securities, due
to the reporteo passage of the control
Of the property TO Erie Interests. The
fears OF minority stockholders led to
an unloading Of their holdings and a
slump OF s points in the common stock
without a recovery, and Of 6 points in
the preferred stock with a rally OF over
a point In the latter. The bonds OF the
company were very strong on the be-
lief that they would be guaranteed by
the new controlling company. This
break caused q sympathetic weakness
In all the coalers, and maid weather
worked to the same end. The bltumir-
ous coal roads were, on the other hand,
notably strong. There was evidence Of
realizing In parts OF the list on the
strength impaired to the market by the
general buying. Some Of the leading
railroad stocks show small net losses.
but this tendency n most pronounced
In the recently active stocks OF local
corporations. Manhattan became
strong later on reports OF a proposed
change to electric motive power. and
General Electric enjoyed q correspond
ing benefit. Consolidated Gas advanced
at one time 4 points, and Third Avenue
nearly 5. The realizing Of the last hour
Invited by the days notable rise af-
fected the ~specialties most, but Its eff
feet was quite marked throughout the
list, reducing the days net gains quite
sharply in some cases. Net gains out
side the coalers and a few specialties
extend all the way from a fraction to
over a point. The abundant replenish-
ment OF the local money market has led
to talk OF the surrender by New York
banks OF the government deposits now
In their vaults on account Of the Union
Pacific payment.
The bond market continued very no.
tably active to-day, and O large num-
Der Of issues show gains OF over ! per
cent. Total sales $3.50. 900.
U. S. old is registered were 4 higher,
and the new As were Il higher.
The total sales OF stocks to-day were
AS 800 shares.
NEW YORK, Jan. 7.-Evening Posts
London financial cablegram:
The stock markets here were active
and generally buoyant to-day with
many new features. China and Japan
stocks were very strong. Nothing is
settled as to the China loan, but 1t Is
certain that the negotiations are on the
lire cabled you yesterday.
Grand Trunks and Canadian Pacincs
were booming. but the closing was
much under the best. dealers usually
acting for Montreal being credited with
having sold freely.
Americans were distinctly good. A
feature was the further sharp rise In
New York Centrals on the funding
scheme. Berlin again bought Ameri-
cans and dealings here increased. but
at present they are entirely profession
al. The close was at the best, New
York absorbing stocks.
The Paris and Berlin markets were
firm.
BONDS AND STOCK Quotations