The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-12-02
r1EAxcE AED TRADE
Ths Fsatnrss OF ri,s Money a"d s'"sA
llnrLrAa.


iIArlrts.
NEW YORK. Dec. Money on cal
steadier at g@2l. per cent; last loan q.
per cent Prime mercantile paper 9hd
4k per cent Sterling exchange firm
with actual business in bankers bills al
"a s43z94 siN for demand and Al
81 S1i46D4 sig for sixty days; posted
rates "a ssl594 s5lz. Commercial bis
81 803k6S4 81. Silver certificates 6O5EQ
size. Bar silver $3.50, Mexican dollars
46Sc.
Government bonds strong.
State bonds inactive.
Railroad bonds strong.
To-day the stock market was again
largely influenced b. the state o. Inc
foreign money markets. Discount rates
at foreign centres underwent q stu
further Increase to-day and the ac'
commodatIon OF these demands by
American capital was evidenced by an
advance Of nc In the actual rates toi
sterling exchange at New York. The
resumption OF the process OF loanlne
abroad promptly put a stop to the de-
mand for gold in London for export toi
the United States engagements already
made being cancelled and the suosi'
dence Of apprehension on this account
In London resulted II considerable Guy.
ing Of stocks In the New York market
for London account. The continuance o.
a stringent requirement for money u
Berlin was still shown by the with
drawal OF St,4S6,008 additional from tht
Bank Of England for shipment TO Ger
many. The weekly statements or the
Bank OF England and the Bank OF
France revealed the fictitious character
OF the recent easing Of money rates II
London and in Paris. In tho case o.
The former there is loss in gold o.
nearly 100000 while the pressure up
on the bank for loans on account OF the
rise in the private discount rate mas re-
suited in an increase In other seeuri,
ties OF over $lS,OOO.OO0. The Bank Of
France has lost $6s0,0OO in gold ana q
somewhat larger amount in siiver,whlle
at the existing bank rate the OUTSIDE
market has borrowed $22,76j,O0O more
than the loan account of week ago
The revelation of so pressing imam
cial strIngency in the worlds great
money centres suggests liquidation OF
so drastic character as TO give nat
ural pause to speculation IN all markets.
But though there was dizziness In the
standard stocks In New York, prices
were very firmly held, apparently on
the supposition that the money difficult
ties abroad were in way to be work
ed out satisfactorily, which is confirm
ed by the retention of the existing bank
OF England rate. Meantime speculation
turned into the channels OF the Indus
trial speclaltles. There is long list OF
these showing very material gains, but
each was Influenced by individual
causes, either real or fictitious. Sugar
advanced on the belief that the regular
dividend would be declared next week:
Rubber on the reported demand for the
product; Consolidated Gas on rumors OF
pending consolidation of Gas interests;
Linseed oil on the report Of plan for
reorganization and so on throughout the
list. The strength in Consolidated
seemed TO have sympathetic effect on
Gas stocks generally. In the railway
list while prices generally advanced, the
number of stocks to show conspicuous
strength was small. 1t included Cen
trail and Southern Pacific, giving color to
reports OF plan of settlement of the
government claims; Oregon Short Line
on the measure Eor absorption by I'm
lon Pacific and Kansas City, Pittsburgh
& Gulf, and Chicago & Alton, gains in
the latter two cases. not being retained
however Louisville and Baltimore &
Ohio showed strength. Net gains out
side OF the lndustrlals are mostly frac-
LIonal.
There was good demand for bonds
and conspicuous gains in some In
stances. Total sales $4,3IO.OO0.
United States new As advanced 4 and
the IS old As and the IS registered Il per
cent In the bid price.
Evening Posts London financial ca
blegram:
The absence OF any advance in the
Bank OF England rate and the cessation
OF gold shipments to New York caused
general recovery Of prices In the
stock markets here to-day, There wa
not much business, but yesterdays dear
money scare caused some bear opera
tons which were adjusted to-day.
This latter feature was especially no.
tlceable In Americans. which were
strong.
The total sales of stocks to-day were
4G2, 900 shares.
BONDS AND STOCK QUOTATIONS.