The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-09-22
FINANCE AND TRADE
The Features or the Money anh stoel
3IAEksts.

The Features or the Money Anh stoek
Markets.
NEW YORK. Sept. A.-Money on call
easier at 2G5 per cent; last loan per
cent. Prime mercantile paper 495 per
cent. Sterling exchange weak, with
actual business in bankers bills at
"a sax for demand and at 81 s1h64 sl&
for 60 days. Posted rates 81 s2h@4 SO
and 81 So. Commercial bills 81 SO1a@
4 81. Silver certificates 6lh962c. Bar
silver 81 5-16c. Mexican dollars i7iEc.
The course Of sugar to-day Indicated
that the long bear turn In that stock has
come to an end for the present, Deal
lngs in this stock continued TO absorb
an important proportion of the total
transactions. Efforts to hodl the money
rate proved unavaillng In view Of the
disparity between the New York call
money rate and other markets and call
loans on the board fell to per cent to-
day. AS a result of relief from these
important reactlonary tendencies, the
market was strong and recovered quite
generally from yesterdays decline. But
the strength was confined largely to
spots and the market Is still in the
hands OF professionals and reflects no
outside interest. There was SIN some
apprehension that the rally IN sugar
might be simply the result of manipula-
ton directed against a large bear ac-
count The sudden plentltude Of money
was looked at somewhat askance and
with some remains the fear that fur
Their furry In call money might be pos
sibIe. The fact that money has been
easy TO obtain for several days in almost
all markets but not on the exchange en-
courages this feeling. But the call
money market was unable to withstand
the influence of various agencies which
have been at work for It's relief The
sub-treasury had another heavy debit
balance Of nearly 100000 at the clear
ing house to-day rejecting in part the
presentation of checks for the anticipa-
tory payment Of the October first inter-
cs, ON government bonds. Transfers OF
currency from New oYrk to the west
through the sub-treasury fell to $4,000
to-day and New York exchange In Chi
eago advanced to only 10 cents discount.
There were no further engagements Of
gold in London resulting in a sharp rise
OF u per cent to ! per cent in the money
rate and OF AaM per cent to 2IsG2k per
cent in the discount rate In that market.
The gtlfrenIng OF the London money rate
begot dnllness in the stock market there.
the heaylncss extending TO the Ameri-
can group and resulting in some selling
for London account here. Except in one
or TWO instances this selling was without
much effect. a number Of stocks re-
gponded sharply to special causes as for
instance Manhattan ON the return from
Europe OF the dominant capitalist;
Brooklyn Transit on talk OF the absorp-
tIon OF another line; General electric on
the belief that It would benefit from the
recent combination of electrical inter-
csts; Leather preferred on covering OF
shorts who mlsapprehended the mean
Ing OF the new leather company an
nounced yesterday.
The coalcrs. cotton oil, Rubber. New
York Air Brake and some other special
ties showed conspicuous advances, In
the railroad list outalde OF Northern Pa