The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-10-29
FINANCE AND TRADE
Tho Features OF the Money and Stock
Mnrkets.

Markets.
NEW YORK, Oct. 2S.-NIoney on call
steady at 1%@2 per cent; last loan 2 per
cent. Prime mercantile paper 3G4 per
cent. Sterling exchange firm, with ac-
tual business in bankers bills at 81 S5a
"a S5& for demand and at s. S2HG4 S2ls
for sixty days; posted rates 81 1894 SSl5
and 81 S5G4 S51a. Commercial bills
81 81. Silver certificates 6lQ62c. Bar
silver 6O5sc; Mexican dollars 41hc.
The stock market took on to-day
many OF the characteristics OF bull
campaign in full force. Business was
large and exceedingly well distributed,
many Of the usually inactive stocks be-
ing brought into the movement while the
market was much less dominated by
the specialties. which, however, con-
tinued very active, principally sugar
and Tobacco. The former was less vio-
lent In Its fluctuations than on yester-
day, and although It advanced several
times 1t met more stock than 1t could
carry. 1t ended the day unchanged.
Tobacco, on the other hand, after
fractional decline, surged strongly up
ward, the extreme rise being nearly
five points. The rise was coupled with
rumors OF the flotatIon Of the new plug
tobacco company, and in the taking In
Of many large competitors In that held.
Another conspicuous movement was
that in the iron and steel stocks, which
was lead by the dealings in securities
OF the new Federal Steel Company
when issued. These stocks were at one
time IL to tx per cent above last night.
The certificates OF the Minnesota Iron
Company, with the cash payment add
ed, giving the right to entry into the
Federal company, sold at Isl, an ad-
vance OF four points, and the Illinois
Steel certificates closed at % bid gain
of two points. Securities OF other iron
and steel companies showed strength
TO a less degree. Brooklyn Transit was
notably strong on talk OF the absorp-
ton Of the Nassau Electric, rising over
g.. and Metropolitan Street Railway
also advanced points, Manhattan
was in strong contrast with an extreme
decline OF 2 points selling down to %.
The Edison Illuminating Company, or
New York, gained III points, with no
news TO explain the rise. The Rubber
stocks were rather heavy on talk OF
an opposition company. Peoples Gas
rose a point in connection with the taxi
ing over Of the Manhattan Oil COM
pany, Speculation in the railroad
stocks was active and varied the Gran
gers leading In point Of activity. Re-
ports Of one or two southwestern roads
showing the increased earnings more
than eaten up by enlarged operating ex-
penses, were drag on that group, and
there was some slight heaviness
amongst the trunk lines. Prices as
rule, are higher, however. There was
n marked dimiEUtioR in activity In the
latter part Of the day, and the room
traders took profits, reducing the days
net gains below the figure OF the ex-
treme advances
There was very notable activity and
strength In the bond, market and EVIL
dent pressure OF large sums OF money
seeking investment. Bonds OF Western
and Southwestern roads, especially re-
organization roads, seem to be In special
favor, and there was n strong recovery
in the Reading and Erie general as,
which have recently been under pres
sure. Iron Mountain SIS were also con-
splcuous. Pittsburgh and Guf First
dropped to CT, fall OF 2h per cent, but
fully recovered In the late dealings. To-
tai sales. $5,3l5,OOO.
United 3's, old as registered and the
SIS copuon advanced u per cent In the
bid price. The new IS were very &C
tive the coupon selling at LOG nearly all
day, which Is the record price. There
were S6S5.6OO OF this issue changed hands
during the day.
Tho total sales Of stocks to-day were
379,SO0 shares.
,,,,,s, ,>,,, c,rOrty QUOTATIONS