The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-02-28

tered OF 1907 having fallen below that
for the IS. Z. 7.
Prices in the bond market have
moved In sympathy with Stoke, but
over a much narrow range and on q
largely decreased volume OF business.
Declines In government bonds pre from
v to sk per cent. the alter the new
As coupon. l1A33i
Evening Posts London financial ca
blegram: n. ( s. Ne.
Tho stock markets were again better
to-day. but sim unsettled. Americans
were bought less confidently to-day.
Money rates have hardened on the fur
Their fall In New York exchange and
the continued American demand for
gold. which raised the price OF bars to
IT'S eAd. Two stock exchange failures
were announced to-day, operators In
Grand Trunks and West Australian
mines.
1t Is rumo-ed that the Chinese loan
Will be brought out here BY England.
This is Important. II true, because 1t
means a lock-up OF money earlier than
II an outside bank did II.
also hear report that the Greek
loan guaranteed by the powers, may be
a 21s per cent loan. and Issued at
about 9S. butt cannot confirm this.
The Flnancler says: The statement
OF the Associated Banks OF New York
CITY for the week ending February 26,
Is not as disappointing In Its showing
as had been anticipated. The events Of
the week made 1t plain that heavy de-
creases were inevitable. and yet. as a
result OF all the changes, the banks
have reduced their surplus cash only
s2.129. l25, an amount hardly as large
as current engagements OF gold from
Europe. The actual loss In specie and
legal tenders was s7,41S,i0o. but this
was partially offset by an increase OF
$3.50, 700 IN specie. making the net loss
for the week s5.0s5,7Oo The specie ap.
parently went into half dozen OF the
larger banks. 1t Is interesting to note
that OF the entire cash reserve OF the
New York banks, that at least IS per
cent is held In the form OF specie. The
loss In cash was brought about by the
heavy shipments 10 the interior and
Payments into the treasury, but the
full extent of. the former is not shown
in the market. while the larger part
of the money now being withdrawn
from New York is doubtless In response
to increased demand, due to better
trade conditions. Some Of It reflects
the unsettled state OF mind prevailing
with regard 10 the future. But the New
York banks generally lose portion of
the!r excess balances at this season of
the year. In 1897, between the latter
part of February and the end OF March,
the excess reserve fell of eleven mil
lions. The loss in February, this year,
has been twelve and three-auarter MIL
lions. The reserve however, Is now
about one-half OF what 1t was twelve
months ago. SO TINT the loss effects the
market rather more acutely.
Ssill the sensitlveness OF the stu
alton. aud our strong position as re-
CARDS International balances are we'll
shown in the fact that even slight in
creases In rates last week have started
gold imports. A continued firm market
will only emphasize this factor. For
the moment the Generalization OF the
stock market, the heavy liquidation
and rela!izations have contracted the
loan item. There is nothing, however,
Indicating that money Is going TO be
excessively dear, even should complica-
lions arise. A study OF the past weeks
operations illustrates perfectly the d.
rectlon in which relief can be looked
for. In other words, our money loaned
abroad can be instantly made avail
able.