The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-05-10
F1NANcE AND TRADE
This Feature. OF tho Money aud Stock

This Features of tho Money and Stock
Markets.
NEW YORK, May o.-Morey on call
steady at 2h per cent. Prime rercan-
tile paper COZ per cent. Sterling ex-
change firm with actual business in
bankers bills at 81 Si%94 IS for de-
mand ard at 81 s1h94 SIX for 60 days.
Posted rates s4s2 and 81 s5h. Com
mercia. bills 81 SO94 soh. Silver cer-
,ihcates 56G5sIc. Bar silver 561sc.
Mexican dollars 45c.
Probably to-day's stock market owed
its firmness and at some points Its
strength 10 the extraordinary course OF
prices in the wheat market. With May
wheat selling in this market at 81 80 a
bushe, before the middle OF the month
and with the July option almost keep
Ing pa"a with it, there Is assured prom
Use Of abundant increase OF wealth for
this country. The. outbreaks OF violence
and. OF b!oodshed in Italy and Spain or
account OF the dearness OF bread and
the advancing price for that necessity
at other points In Europe, are only too
convincing evidence that the high prices
for wheat are not due to speculative
manipulation, but to the urgent need
Of foreign consumers. With this DEM
onstration OF the country's potential
command of wealth It IA natural that
prices OF securities should continue to
advance. But the market had to carry
the 5~urGen-of a. extensive liquidation
OF profits in many stocks and OF large
selling for foreign account induced by
the stiffness OF money rates abroad.
There was, besides, positive depression
In some of the stocks which are usually
most prominent In the market. With
three such conspicuous leaders as Su-
| gar, Manhattan and Metropolitan
Street Railway suffering from special
causes of weakness, 1t was natural that
sons slight depression should radiate
from them through the list. There was
n hating tendency manifest even in
| some OF the grangers, Notwithstanding
the special advantages to them from
| the active demand for wheat ard corn.
| Rock 1slan1 showed the most notable
| strength Of any railroad stock and s..
Paul was also well sustained. Other.
wise the grarSers were 4 good deal
weighted by profit taking sales. OF the
international stocks. Louisville was
| about the only outside Of st. Paul
TO show positive strength. Wabash
preferred and Atchison preferred were
| advanced sharply IN heavy buying, but
the former lost most OF the gain. There
were some sharp gains shown in n few
| other cases. notably Peoples Gas and
| Pacific Mali. ToIacco lost all OF its
gain before the end Of the day. There
was G. general downward movement in
the whole list on profit taking and bear
pressure during the final hour, which,
made the days charges extremely ir-
regular. Prominent stocks are found
showing sharp gains and other equally
prominent show marked losses. The
days business was the heaviest since
last fall, the total sales OF all stocks
reaching 620.2Co shares. A feature OF
the day was the sharp advance of &c
in sterling exchange. Not only the
easier tendency OF money here but the
large demand for exchange created by
the selling of stocks for foreign account
| had to do with this advance. The sales
for foreign account reached over 10000.
The bond market shared in the actlv-
ity OF stocks and was strong through
out. Total sales .S3,1I0,000.
U. S. new Is advanced x, the 5s and
the old Is coupon u and the old As reg
! lStereG u III lne ulu price. iHere we're
| sales OF the new As coupon at 1891, an
advance OF 81 cser the last sale.
The total sales OF stocks to-day were
go. 700 shares.
Evening Posts London financial ca
blesram:
The stock markets here opened dull
to-day but gradually improved. The
recovery was led by II marked improve
mcnt in foreign bourses, notably In
Paris.
Interest to-day centered In Ameri-
cans. In which the business was un-
usually heavy. The firm prices In New
York induced rcal!zn:!ons here which
the nrbItragc dealers readily absorbed.
Subsequently the buying became gen.
eral and prices closed at the best. OPP
orators have apparently made up their
mind hat the war Will not interfere
with Americans. while the recognized
rise In wheat adds to the spending
power Of the United States. The Amer
lean demand here for gold has f%allen.off.
BONDS AND STOCK QUOTATIONS..
u. s.. new Is reg. l23I r. & Nav. 5GE
do coupon......l23n Pittsburgh 49,. l6S
U. S. IS .........l09A Reading ...".."ls