The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-10-22
rINAEcs AND TRADE
the Features Of tlle Money and stoeis
Markets.

The FeAtuFe1 Of tlio Money ana oteelA
Markets.
NEW YORK. Oct. 2l.-Money on call
easier at 1h62 per cent; last loan ia
per cent. Prime mercantile paper Sk0
4 per cent. Sterling exchange Arm, with
actual business In bankers bills At
81 s5@4 s5N for demand and at 81 $50
SEX for sixty days; posted rates
a 1904 Sc. Commercial bills 81 so%.
silver certificates 6O6slc. Bar silver
60Kc, Mexican dollars 46%c.
Government bonds firmer.
State bonds inactive.
Railroad bonds Arm.
The motor nerve Of the worlds mar
ket was touched to-day by the reported
orders OF the government Of France to
Major Marchani TO retire nom Fasho-
da. There was 3 prompt recovery N
government securities In LONDON ana
paris and incorporate stocks AZ all for
elgn markets. For the same reason
there was a weakening In the wheat
markat Of the world, including Liver
nool. New York, Chicago and San
Francisco. This checked yesterdays
advance in the stock market But when
Il became evident later In the day that
there was good support in the wheat
market from q continued demand for
EXPORT In spite OF the subsistence OF the
war scare and OF the continued heavy
reports there sprang up demand Tor
railroad stocks which showed Itself
more confident and urgent than any
thing that has been seen In the stock
market for several weeks. Naturally,
the demand was most manifest for
stocks OF grain carrying roads. The
strength was manifest not only IN the
granger group proper, but also IN the
pacltics, Including Northern, Union and
Atchison. The preferred stock OF the
latter road was next to ST. Paul. the
leader OF the railroads In point OF ac-
tIyity and was firm throughout the
day, closing with a net gain OF 1 per
cent. The absorption Of the stock IN
the late dealings was on very large
scale. The dullness and heavlness OF
the stocks Of the great eastern trunk
lines was In strong contrast, although
according 10 quoted utterance OF the
chairman Of the New York Central d.
rectors. many companies cannot get
cars enough to carry the freight COM
ing forward. but are cutting rates and
making contracts ahead at figures be-
low the rate schedule. 1t is In line with
this view to find the gross earnings OF
the Central for the corresponding quar-
ter last year, while che balance avail
able for dividend is 5000 per cent for
the quarter compared with 70-100 per
cent last year. The strength OF west
ern. southwestern and southern stocks
was quite general. Louisville leading
the latter group with an extreme rise
OF a point The movement OF the IN
dustrInl specialties was relatively much
less Important than Of late. Tobacco
advanced an extreme three points, but
met heavy sales; sugar was raided be-
low Ill, but met the resisting point and
Manhattan. although 1t weakened ear
" on published utterances tending to
dlscredIt reports Of early electrical
equipment, later rose over a point.
Sterling exchange advanced further to-
day in response to the stiffness OF for
elgn money markets, which the clear
ing OF political prospects did not re-
lleve; but the local money market con-
tinued easy. The gain of the New York
banks in cash from gold imports from
the sub-treasury and by reason Of the
marked decrease in the movement OF
currency to the interior is estimated to
be not far from $l0,000,oOO for the week.
How far the reserve requirements have
been expended through enlarged de-
poslts by reason OF loans made on ster-
ling exchange cannot be closely estima-
ted, but 1t may run as high as Sl5,O0O,-
OOO
The bond market broadened and Inn
proved in the course OF the day and
shows gains generally. Total sales,
s2,SiO.OOO.
United States Is registered advanced
Y and the IS registered declined Y per
cent in the bid price.
The total sales OF stocks to-day were
215,2OO shares.