The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-06-17
FINANCE AND TRADE
The Features of the Money and stocI
iIorkrt,

The Features OF the Money and stock
Markets.
NEW YORK, June 16-Money on call
1Q1A per cent; last loan az per cent.
Prime mercantile paper 394 per cent.
STERLING exchange flrmer with actual
business in bankers bills at 81 S5A(D
S5H for demand and at 81 say "a "a
Tor 20 days; posted, rates 81 S5Gpi S5is
and 81 SsM "a 81; commercial bills
81 S2&. Silver certificates, 1900 ounces
at Csc: range 5SG5S&c. Bar silver 5SMc.
Mexican dollars 45Ac.
There was small bear panic to-day
which caused an upward rush OF prices
in the first hour such as has not been
seen on the stock exchange for days.
Blocks OF 1000 shares and upwards OF
leading stocks were snapped up with
avldity. The prominent speclalties and
the grangers had the most conspicuous
advances, but the strength was quite
we'll distributed in the list and gains In
the railroads were nearly uniform. AZ
ter the opening rush the market fell
into dizziness and declined rather aim
lessiy below the high point but without
falling to the opening level The later
transactions were. limited in volume
and the closing was almost inanimate
but firm at the top. The absence OF any
large demand after the rush TO cover
shorts, considered in connection with
yesterdays downward movement, indl-
Gates that the market Is near the
point of stability. Yesterdays declines
failed TO dislodSe any large offerings,
indicating that the supply Is firmly and
strongly held. But there, was equally
an absence OF any effort on the, part OF
inside interest TO advance prices to-day
except in special cases. The demand
from the shorts was very pronounced
in Tobacco. Sugar, Peoples Gas and the
grangers. There was also q morning
demand for London account which lift
ed prices Of the .internationals. During
the day sustained buying movement
In Cleveland. Cincinnati. Chicago & St.
Louis, Chesapeake & Ohio and Balti-
more 6: Ohio developed, carrying the
prices up from IL 10 4 points. The de-
| mand for the two former stocks Is cur
rently supposed In Wall street to be
connected with a far-reaching project
for the consolidation OF the Ohio soft
coal interests under the controlling in
| fluence of the dominant Interest In these
roads. Baltimore G. Ohio may have felt
some sympathetic effect but there were
| also rumors OF the approaching is
sue OF the reorganization plan.
Hooking Valley common stock rose :.
on small transactions. The Increase In
the semi-anuual dividend rate OF Dem
yer preferred from l to 1!s per cent and
q quarterly dividend on the preferred
stock of Cleveland. Cincinnati. Chicago
6 St. Louis at the full 8 per cent rate
were favoring Influences on the market.
Rates for time money We're QuotabIy
higher, ranging from 2a2H per cent for
80 days and 3ls per cent for six 10 eight
months. New York exchange at Chi
cago also fell to l0c Slscount.
business was not large in the bond
market, but the tendency OF prices was
upwards. Total sales S2,2OO,0O0.
U. s. new 4s advanced z, the IS q
and the old Is registered u in the bid
price. The old is coupon decllued y.
The total sales ofstocks to-day were
100000 shares.