The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-03-15
FINANCE AND TRADE
Th' Feature. or the Money and Stock

The Features or the Money and Stock
Markets. -'N -
NEW YORK. March l4.-Money on
call steady at 2a2h per cent; last loan
2ls per cent. Prime mercantile paper
4495h per cent. Sterling exchange
quiet with actual business in bankers
bills at "a SIX for demand and at 81 SO%t
for 60 days. Posted rates 81 S2G4 SO
and 81 $500 Soh. Commercial bills
81 so. silver certificates a%a55Ic.
| Bar silver 54kc. Mexican dollars 44&c.
The stock and bond markets were
strong throughout the day. Different
opinions were offered as to the cause OF
this and probably all had some truth in
them. That the excess OF buoyancy
was surprise to many professional
traders even to those who expected
| some natural rebound from Saturdays
excessive depression, was evident.
There was nothing in the news OF the
day to change materially the political
outlook, and that there were many
holders OF securities continued nervous
was evident from the large offerings to
| realize which met the sharp rise at the
opening. but the reaction which re-
| suited from these offerings was more
than overcome, even those stocks which
| showed the largest gains at the OPEN
| Ing rising In some cases over a point
above the early high price. Prices OF
Americans We're advanced in London
before the opening here. This was the
more notable on account of the acute
| depression Of the Spanish government
| As. which feQl 2Is In London on Paris
selling and showed an extreme decline
Of x in Paris. The course Of these
bonds has been looked to as a true In
dex Of the diplomatic relations between
| the United States and Spain. This
| discrepancy might mean that capital
| Financial ard industrial conditions in
the United States in spite OF the
danger OF war or 1t might mean
that the acute financial distress
Of the Spanish government. de-
tracts from the value Of Its bonds III
| spite OF chance Of peace. 1t Is not to
be lost sight OF that United States bonds
in the loca. market declined y per cent
| in the bid price in face Of the strength
| of all other securities. It IS possible,
however, that the stiffenlng Of the
| money rate may have accounted for this
movement. Certain 1t is that there was
q Very large coveringlof short contracts
which had been left open over Sunday
V's Aitt btitCLH llisiN SOAlIt iiGN ilN
serous development was imminent in
our relations with Spain.
Traders were indisposed to put. out
fresh short lines and there was even evil
dence OF various familiar devices for
\ builing prices 10 show that some OF this
! element was In the market for at least
| a short upward turn In prices. The
firmnesS OF prices was sustained to the
close. THIS was demonstration that
the underlying strength OF business
conditions In the country would quickly
bring about q recovery OF prices upon
any relaxation OF the tension over the
| Cuban question.
Gold continues to be engaged for I'M
| port, to-day'S announcements aEgre-
eating considerably over $1,000, coo.
| The fall In the rate of exchange IN Paris
and Berlin and the relative steadlneSs
| OF the rate on London indicates where
the pressure for gold is being felt and
there was a response In the stiffenng
| OF the money rate in Paris and Berlin.
Money lis still moving 10 the Interior
| from this point and receipts of gold had
no effect to-day in easing the money
market. Over 100000 will be with
drawn from the market tomorrow and
covered into the treasury for the Sec
| ond payment on account of the Kan
| sas Pacific sale. Nearly all active
| stocks are from to over 3 per cent
| higher as q result OF the days trading.
Prices OF railroad bonds rose In SYM
pathy with stocks, but the overwhelm-
Ing proportion Of the dealings was in
the IhtchiSon adjustments and the Union
| Pacific new 49, Total sales $9,T00,00O.
II United States bonds were " per cent
| lower bid, except the As registered and
| the seconds. which were unchanged.
Evening Posts London financial ca
blesram:
Americans continue unsettled ami
feverish. the chief depressing Influence
| to-day being Paris. where the bourse
was demoralized by the fall In Spanish
securities and tho Coulisse agitation,
| The severe slump In Americans In New
York on Saturday attracted the atten-
ton Of buyers here and prices opened
81 80 above the New York parity. New
York responding to this later. 4 fur
| Their Improvement took place with con-
| siderable influential buying for Ger
many, but the close was dull In the
street.
Kafiirs, which have been. dull the
last few days on Paris conditions, clos
cd panickT on the news of the murder
OF Woolf Joel, the existing head OF the
| firm OF Barnato Brothers. One small
| stock exchange failure was announced,
but It was not connected with AmcrI-
cans. Indications OF continuance OF
dear money still exists. A large amount
OF gold was bought for New York to-
day. The question OF rise In the
Bank OF England's rate on Thursday Is
much discussed. The open market rate
! Is . 3-1G.
The Paris boursc was trine better
after n period OF duliness
Spanish securities which had been
521sc. closed at 525sc.
The Berlin market wns steady.
BONDS AND STOCK QUOTATIONS.
U. ). new Is reg.l2l IOrc. II. & Nav. A
DO coupon..,lal lplttsburrb IcS