The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-01-28
FINANCE AND TRADE.
The Features or tho Money and Stock
Markets.

This Features or tho Money and Stock
Markets.
NEW YORK, Jan. 27.-Moncy on call
easy at 1,s61& per cent: last loan IL
per cent. Primo mercantile paper 3@3&
per cent. Sterling exchange firm with
actual business In bankers bills at
81 $500 S4% for demand and at 81 S2IA
"a SIX for GO days; posted rates 81 $40
4 s3is and 81 S5,494 Sc; commercial bills
81 s1h94 So. Silver certificates 56A9
57Hc. Bar silver 5GIsc. Mexican dol
lars 44Tc.
There were q number OF features OF
aggressive strength In to-day's market,
but there were also evidences that the
sustaining force OF these special stocks
was taken advantage Of to sell out
heavy lines OF other stocks to realize
profits. The center OF interest In the
market continued to be New York Cen
trail. The persistent advance in this
stock Is attributed very generally In the
street to the inside buying and the re-
ports Of u pending plan for the merging
OF the Lake Shore and New York Cen
trail find very general credence. All
sorts OF rumors are constantly atloat
processing to give In detail the plans for
this merging and also for the consolida-
ton OF various Vanderbilt properties,
but no official or authoritative an
nouncement has been made, nor Is one
expected. The advance In New York
Central was twice arrested during the
day by reactions. The large absorption
of the stocks which developed before
the decline had reached great length
suggested by the probability that the
reaction was manipulated In the inter-
est Of those seeking to acquire the stock.
Lake Shore yielded Ia of Its extreme
advance OF az before the close It Is
noticeable that the Vanderbilt stocks
for the most part closed below last
nights final price. Northern Pacific
preferred, Kansas C Texas preferred,
and Rock Island were leaders of the
market In conjunction with New York
Central. There were not lacking other
features OF strength In the market and
the New York transit, companies were
conspicuous for sudden and sharp adj
vance In the final hour. But, consider
Ing the large volume OF business, the
small net advance in many active spec
ulative favorites and the mixture Of
losses on the days business, 1t must be
regarded as probable that there was a
large taking of profits by recent buyers
London had large account in the local
market to-day and on the side Of sales
there was a balance OF 10000 shares
There was no news to explain such a
change of front on the part Of the Brit
ish financial center. and It can only be
accounted for by q significant DISPOSE
ton to take quick profits on n sharp adj
vance.
Sterling exchange responded to the
London selling with rather firmer
tone. There was no hardening ten
dercy perceptible in the local money
market.
The enormous demand for middle
grade and low priced bonds continued
In that department Of the market to-
day. The volume Of transactions thus
far in January Is said to be far In ex-
cess of that for the corresponding Pc
Rod In any previous year. To-dny's
business was large and the advance is
marked In the low priced speculative
issues. Total sales s5,67o, 900.
U. s. old Is coupon were X higher bid :
the new as 4 higher and the IS coupon
Is lower.
The total sales of stocks to-day, were
5oS,3OOi shares.
evening Posts London financial ca
blegram:
The stock markets here were OF better
tone to-day. Americans and Argentiues
being the feature. americans, which
closed at the best. are practically BOOM
Ing. Support is mainly from New York
but professional dealings here are
strong and increasing. 1t is expected
here that the Teller silver resolution
will pass the United States senate, but
the kind OF professionals now dealing
In Americans Is too used. to that sort of
thing to be upset byri.. The Lake
Shore and New York Central were es-
peciolly strong. Grand Trunk was low
er. Bank OF England stock is the high
est ever touched. 1t will be Interesting
to note the effect OIL the half years pro-
fits of the banks recent policy. Copper
shares are recovering. The local dis
count market continues very firm and
all the continental exchanges are rising.
1t Is. however, rumored- that more jap
anese money will be released at the end
of the week.
er,1