The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-01-06
FINANCE AND TRADE
The Features of the Money md Stool

FINANCE AND TRADE
The Features OF the Money md Stock
Markets.
NEW YORK, Jan. 5.-Moncy on cal.
firm at 3G3h per cent: last loan sH
per cent; closed at $685. per cent.
Prime mercantile paper 3hG4 per cent.
Sterling exchange firm. with actual
business n bankers bills at 81 $50
4 s5ls for demand and at 81 s2S94 SEX
for sixty days. Posted rates 81 S3,.s and
"a Sc. Commercial bills 81 SIZE. Silver
certificates 56HG5sc. Bar silver 5s5sc.
Mexican dollars i5,sc.
The stock market got away from the
bears in the later dealings to-day and
closed buoyant and very active. In part
because OF the rush OF the shorts to
cover. Some OF the s2ccialties we're
strong throughout the day. but there
was a period In the early session when
the reactionlsts seemed 10 have gained
control. some OF the southern and
southwestern stocks being sold downsn
point OF over. The bears also attempts
ed to utilize the introduction at Albany
Of bills directed against combinations
Of capital. but the effect OF these bills
was confined to Consolidated Gas. which
fell ove- n point. Some heavlness early
was manifested also In other promI-
nent railroad stocks, which may have
been due TO sympathy with the depres-
sion in the same stocks In London and
on European exchanges. This was no.
tably the east with the New York Cen
trail stocks and Northern Pacific pre-
ferred. The forced covering OF shorts
and the later buoyancy OF the market
brought the extreme advances In some
OF the most prominent stocks to nearly
two points over and net gains OF q point
or over are very frequent throughout
the list. Tie failure OF the bears 20 ef-
feet declines encourages aggrcssiveness
In the bulls. There was O growing feel
Ing also that recent utterances by rail-
way officials pointing to poor returns on
account OF low rates and rate cutting
were not fully warranted and were de-
signed TO Influence public opinion and
the action OF Congress. The days re-
ports OF earnings came to re-enforce
this view. st. Paul's earnings for the
last week OF the year were second only
to those OF 1892 for the corresponding
period. Missouri Pacific shows an In
crease In gross earnings for the last
week IN December OF $500 Chesa-
pcake 6 Ohio OF 1855 and Kansas G.
Pacific OF s56.s0I. The detailed state
men. for October OF Cleveland. Lo-aln
G. Wheeling started active buying OF
that stock In the final hour which car
ricd the price UP to l5I, compared with
recent bids OF IL. Finally the Union Pa
cIGc reorganization committee present.
cd Its check to the assistant treasurer
to-day for SS,52S,Oii. which Is the final
payment on account of the Union Pacl-
ic sale. Tho consumrna!Ion OF this op-
Grafton w:,Ich has been q disturbing
factor in the money market for over a
month, md the absence OF furry on
account OF It in the money market to-
day were Viewed with relief By Wall
street. The future ease Of the money
market now seems assured SO far as
government operations are concerned.
This encouraging combination Of cir
cumstances served 10 put an end 10 the
bear campaign to-day and turned the
tide In favor OF the bulls. though the
days business was still largely confined
to the professional trading element.
Brooklyn Transit led the market both
in point OF activity and In extent OF
gain, which was 2H per cent.
The bond market took on increased
activity and strength in sympathy with
stocks aud prices were generally high
or. Total sales. s2.175.O0o.
United States new As were half high
er bid: the rs registered y per cent
higher and the old As registered and the
IS coupon Is per cent higher.
The total sales OF stocks to-day were
o3S.7OO shares.
Evening Posts London financial ca
blcsram:
The stock market" here were quiet
but strong to-day. The feature wac the
rise in Grand Trunks on professional
,,,o,orth have ,pJ yra- ri,,oa,v ,rt,,,o