The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-01-24
FINANCE AND TRADE
The Features OF the Money and sto
t4|.s flnrLefs .H ..|


during the week has shown no special
changes. The brokers are Offering It in
abundant volume, but there Is nothing
yet to create a proporllonate demand.
Therefore collateral Is not closely scru-
tinted, and rates continue easy at 2;s
per cent for 60 days, 3 for ninety days to
seven months 3h for eight months.
Mercantile paper has been characterized
this week by the appearance OF u numoer
OF choice names, which, under the pres
hent money conditions, are taken with
rapidly, and at rates gratifying to the
borrower. The demand extends also to
good names OF the lesser financial
strength. and the investors include out
of-town institutions us well as local.
Rates, 3 per cent for co to 90 days: In
dorsements 3LQ4 for choice four TO six
months single names; 4I5 for others.
Boston call money rates were quo.ably
easier, and as low as IL per cent was
quoted in settlements between banks at
the clearing house; most Of the business,
however, being done at . per cent. Quo
tntlons at the four important censers are
reported by telegraph MS follows: Boston
Call, 293h; time az al per cent. Chi
cago-Call, 1891; time, ACC per cent;
Philadelphia-Call, 2ls; time. Sh94 per
cent. Batimore-Call. 1904 per cent; time
4G6 per cent. Bar silver IN London, "a
lower, Mt 26hd per ounce. New York
price for commercial bars, &c lower, at
66sSQ5ISc per ounce; government assay
bars. &c lower, at 56S 95Sc; Mexican
dollars, hsc lower bid, at 4Jc, iGc higher
asked, at 4Ic.
Trading in stocks to-day was OF small
proportion. even for a Saturdays brief
session. The market generally left of
with steady tone at slight recessIons
in values. No outside interest was APP
parent and room traders transacted most
OF the business. Commission houses had
but few orders either way. Console
dated Gas and Metropolitan Street Rail-
way and n few other special issues
monopolized the traders attention.
Sugar declined fractionally. Manhattan
was moderately firm: Consolidated Gas
rose ~ per cent; Metropolitan Street
Railway 2% and Third Avenue ad-
ranced 2h per cent on influences that
had been operating all the week. No
liquidation Of importance was noted to-
day except in a few isolated cases, in
GLIDING Omaha and Jersey Central.
The stock market for the week In
most cases has resulted In fractional
decline. The favorable factors in the
situation outnumber THE others, al
though the Disturbing features were re-
garded as Of greater importance. Among
the grave affairs in the situation from
the speculative standpoint were the New
England cotton strike and the possiblli-
ties in China, Cuba, and the consIdera-
ton by the senate OF the resolution that
government bonds may be paid In gold
or silver. While no radical legislation
at this time was expected concerning
either silver or Cuba, the professionals
made the most OF the situation with I
view OF bringing about u reaction. and
were partially successful. At the same
time the foreign markets were over
Swallowed by the possibility OF The Euro
pean powers becoming embroiled over
China. On the other hand there was
much to justify an optimistic view on
prices. These were satisfactory trade
conditions. immense increases In railroad
receipts, large exports, scarcity OF fail
ures in the commercial world, easy mon
ey and the fact that over four-fifths OF
the Illinois Central's s15,OO0,OOO bonds
had been taken for domestic account.
Egypt and Russia, usually sources OF
supply for Europe, were reported to be
importing American corn. Money at
this centre was quoted lower than in al
most any other part of the world, and
this alone was supposed to impede gold
imports at a season when sterling ex-
change usually rules pretty strong.
Money continues to gravitate here from
the Interior Of the country, the banks
gaining over SI.500,000 last week. The
break In the money market was largely
due to the continuance of the govern
ment deposits of Union Pacific money In
the banks.
The Klondikcrs, sugar and local cor
porat!ons including gas and traction
shares were the active features OF the
week at times showing buoyancy, but
with manipulation ever present. The
grangers and coalers generally ruled
heavy. There seemed little outside in
terest in speculation. the dealings being
oil less volume and concentrated in fewer
securities than was the case last week,
Railroads located in the extreme north
west ana western sections OF the coun-
try largely discounted the expectation Of
increased traffic resulting from the pros
pecdve emigration to the newly discov-
cred gold fields where they would be de-
pendent largely upon The United States
for supplies. There were improvements
ranging up to 5 per cent in Oregon narl-
cation stock, and 9,s per cent in Oregon
improved consols. Conflicting. ad-
vices regarding the probable success Of
the Hawaiian treaty were reflected in
Sugar fluctuations. Other Influences on
this specially were statements regarding
the position of insiders as to whether
they had been acquiring the stock or
favored further decline. After cover
ing range OF nearly points Sugar
closed with II per cent Improvement.
Local gas securities were in demand on
statements that large interests that
hitherto held aloof were no longer un-
favorable TO the general consolidation.
Then impending legislation at Albany
was interpreted as having features
off-selling the possible reduction
OF the price OF the product in Greater
New York. Consolidated Gas closed
with rise OF 10& per cent. The extra
ordinary rise since the municipal Cleo
ton In Metropolitan Street Railway was
continued, the advance for the week be-
Ing 11A per cent. This was accounted
for IN published statements OF increased
traffic owing to the completion OF ex-
tensions OF the system, but man!pula-
ton was very prominent In the dealings.
Pittsburgh, Cincinnati, Chicago and st.
Louis was prominent in the dealings ow-
ing TO excellent traffic statements, and
scored net gains Of az and AZ per cent
on common and preferred respectively.
The bond market for the week dis
played a striking degree OF strength In
special cases which embraced liens Of
companies operating the Pacific North
west. Some interest @as attached to
the speculation in Seattle. Lake Shore
and Eastern iirsts owing to the fight for
control OF the property by two leading
railroad sYstcE1e which Iyns rnilertnl In