Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-05-10
FINANCE and IRADE.

sEtalfEOE IHtU llu3DLI
New York, May 9.-Evening Posts
London financial cablegram:
The stock markets here opened dull
to-day but rapidly improved. The re-
covery was led by a marked improve
ment in foreign bourses, notably in
Paris.
Interest to-day centered in Ameri-
cans, in which the business was I'M
usually heavy. The firm prices in New
York induced realizations here which
the arbitrage dealers readily absorbed.
Subsequently the buying became gen.
eral, and prices closed at the best.
Operators have apparently made up
their minds that the war will not in
terfere with Americans, while the
recognized rise in wheat adds to the
spending power of the United States
The American demand here for gold
has fallen off.
New York, May 9-Money on call
steady at 21a per cent.
Prime mercantile paper COZ per cent.
Sterling exchange firm, with actual
business in bankers bills at 81 84% q
4 IS for demand and at 81 S11a@4 S1a4
for sixty days.
Posted rates 81 50 and 81 S51s.
Commercial bills 81 SOFA S01a.
Silver certificates 56@56.A
Bar silver 56Bc.
Mexican dollars 45c.
L. S. new As registered. . 12215G71 2315
y. 5. new As coupons. .......... .12212dl23
L. 5. is registered. 10S1a9II09l5
=. 3 IS coupons. .....-..-...... .lU9129lf01a
y. .. -
y. S. IS registered. ............. HOY @1111a
U. S. IS coupons ................1 Hos. al IL -
Pacific SIS of 95.................10 3
Government bonds-Strong.
State bonds-Strong
Railroad bonds-Strong.
Stocks-Probably to-day's stock mar
ket owed its firmness and at some
points its strength to the extraordinary
course of prices in the wheat market.
With May wheat selling in this market
at 81 80 a bushel before the middle of
the month. and with July option almost
keeping pace with it, there is assured
promise of abundant increase Of wealth
for this country. The outbreaks of
violence and of bloodshed in Italy and
Spain on account of the dearness of
bread and the advancing price for that
hCCNOolty az OllCl pOiHiS III
are only too convincing evidence that
the high prices for wheat are not due
to speculative manipulation, but to the
urgent need of foreign consumers.
With this demonstration of the coun-
try's potential command of wealth it
was natural that prices Of securities
should continue to advance. But the
market had to carry the burden of an
extensive liquidation of profits in many
stocks and of large selling for foreign
account induced by the stiffness Of
money rates abroad. There was besides
positive depression in some of the
stocks which are usually most promi-
nent In the market With three such
conspicuous leaders ds Sugar, Manhat-
tan and Metropolitan Street Railway
suffering from special causes of weak
ness, it was natural that some slight
depression should radiate from them
through the list. There was a hating
tendency manifest even in some of the
Changers, Notwithstanding the special
advantages to them from the active de-
mand for wheat and corn. Rock Island
showed the most notable strength of
any railroad stock, and st. Paul was
also well sustained. Otherwise the
Changers were a good deal weighted by
profit taking sales. Of the international
stocks Louisville was about the only
one outside of st. Paul to show positive
strength. Wabash preferred and Atch-
ison preferred were advanced sharply
on heavy buying, but the former lost
most of the gain. There were some
sharp gains shown in a few other cases,
notably Peoples Gas and Pacific Mail.
Tobacco lost all of its gain before the
end of the day. There was a general
downward movement in the whole list
or profit taking and bear pressure dur
ing the final hour which made the days
changes extremely irregular Promi-
nent stocks are found showing sharp
gains and others equally prominent
show marked losses. The days bust
ness was the heaviest since last fall
t. e total sales of all stocks reaching
5000 shares. A feature of the day
was the sharp advance of Zee in sterl-
ing exchange. Not only the easier
tendency of money here but the large
demand for exchange created by the
selling of stocks for foreign account
reached over 10000.
The bond market shared in the actiy-
ity of stocks and was strong through
out Total sales $3,170,000.
II. S. new As advanced &c, the IS
and the old As coupon 1ac, and the old
IS registered 4 in the bid price. There
were sales of the new As coupon at
81 1914. an advance of SIC over the