The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-01-27
FINANCE AND TRADE

Tn, Features Of the Money aud Stock
Markets.
NEW YORK. Jan. 26-Moncy on call
easy at 1h92 per cent; Last loan ~ per
cent. Prime mercantile paper saS& per
cent Sterling exchange weak, with
actual business In bankers bills at
81 ST.. FOR demand and 81 st,sGi SiR
for sixty days. Posted rates 81 $40
4 S3h9I S594 sc. Commercial bills
"a si9t, Silver certificates 56A G57Ac.
Bar silver 56i.c. Mexican dollars iAc.
II the strength In yesterdays stock
market was TO be attributed to a nat
ural recovery from, the scare caused BY
the Malne's departure for Havana,
there could be no doubt OF the UNDER
lying strength and breadth OF to-day's
market for securities. The Maine incl
dent has In fact been converted into an
actual bull factor In the stock market,
the exchange OF courtesies at Havana
being looked upon as promising more
towards smoothing relations between
the two countriues than anything that
has yet occurred.
The movements OF to-day's market
was broad and deep and left no room
to doubt that large interests were alb.
sorbing securities with great confidence
and oil very heavy scale. Purchases
OF 1000 share blocks were frequent In
leading stocks all through the list and
there were n number OF transactions In
bonds In which 100000 par value chang
ed hands in one block. Almost every
group OF railroad properties In the
market was represented In the advance,
the continued heavy buying OF New
York Central and the Vanderbilts be-
Ing the decisive influence on the mar
ket, as for some time past. The gran
gers, the southern group. the south
westerns. the coalers and the Klond!ke
| group all developed advances from one
to three points. Kansas & Texas prefer
| red rose 3 points on rumors OF an ap-
| proaching dividend declaration and
New York Central at one time added
nearly two more points to yesterdays
| gain. Lake Shore rose ~ per cent. OF
| the graRgers Rock Island was the lead
| er, with a rise OF ~ per cent, and all OF
the leading members Of the group rose
over a point. Reading first preferred
| was in the van OF the coalers with a
rise OF ailss per cent. Similar sharp gains
were scored all through the Industrial
list. The group Of New York corpora
lions was an exception and showed
signs OF heavlness. London continued a
large factor, though its purchases were
| probably not as large In this market as
was the case yesterday.
The exchange reflected the further eff
feet of this development with sharp
drop OF :, per cent In the actual rate
for demand sterling, bringing It down
10 1SiA. This Is the point which has
| started the two last import movements
or gold and there was talk In the street
to-day of gold imports. This would be
the more remarkable In view OF the
hardening tendency OF money rates
abroad and the Continued ease here. The
local money market showed no effect
/ from to-day's surrender by New York
banks OF the first ten per cent install
ment OF the government deposit on ac-
count of the Union Pacific sale. This
transaction resulted IN practically
wiping out the sub-treasury's debt ball
ance at the clearing house to-day which
has been running recently at from over
| half million to nearly million dol
lars day.
Dealings In bonds were large and
prices very generally improved. The
Kansas & Texas seconds were most ac-
tive and gained per cent Total sales,
| $3.50. 600. United States old As coupon
and the new As declined Is per cent bid
and the SIS common advanced Is per
cent bid.
Evening Posts London financial ca
blegram:
Politics restricted all the stock mar
kets here to-day except Americans,
which rose steadily and closed quiet at
the best, almost entirely on New York
support. New York Central and Ontario
& Western led the rise.
Other markets were featureless.
TIE total sales OF stocks to-day were
4S6,700 shares.