The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-03-26
FINANCE AND TRADE.
The Features of the Money and stor
Markets.

The Eeatures OF tho Money and Stock
Markets.
NEW YORK, March 25.-Money on
call steady at 1&G2 per cent; last loan
per cent. Prime mercantile paper 41,k1
So per cent. Sterling exchange weak.
with actual business In bankers bills at
81 S3.44 $50 for demand and At 81 S07sD
4 81 for 60 days Posted rates 81 Sli!s@
4 S2ils and 1 SiiGGI4 S5Is. Commercial
bills 81 S0h. Silver certificates $3.50
SC. Bar silver soc. Mexican dollars
ii&c.
Government bonds weak.
State bonds quiet.
Railroad bonds weak. Il
To-day's closing prices were the low
est in most cases since the Cuban ques-
ton became a dominant factor In the
situation. Twenty active shares aver
aged lower than at any time this year
and government new Is coupon were
down to 1lSH bid. This was on the as
sumption that new issues were possible
II expenditures for war purposes con-
tinued long. Before the battleshin
Maine was blown up they were quoted
above 12S. 1t was freely predicted that
the Maine report would be extremely
unfavorable. The market opened with
quotations slightly below yesterdays
final figures. The bears. however, were
determined to bring about a Substantial
~ lower level and hammered many Of
the leading stocks vigorously In an en-
deavor 10 precipltate liquidation. The
local transportation shares and sugar
were the most vulnerable points OF at
tack and the extreme weakness In those
Speclalties was soon communicated else
where. Numerous stop loss orders were
executed and the market for n time took
on very animated appearance, with
losses ranging between l and 8 per cent
during the first half hours operations.
Purchases for London account and an
effort on the part Of some traders 10 rail-
iy prices gave a Steadlcr tone which,
however, was accompanied by extreme
stagnatlon. As the day progressed the
market dipped frequently but there was
an absence of feature IN the general
speculation until the final hour when
extensive liquidation set In which de-
pressed the bulk of the high priced spec
inlties TO the lowest figures of the day.
The efforts OF the bears to depress prices
were aided by judlclously distributed
tips that there would be an attack on the
list In late trading. Washington houses
were sellers and IL was inferred that
they might have some intimatton OF tho
nature Of the Maine report. The local
specialties were cOnspicuously weak,
Third Avenue losing 10 per cent. There
was published story that script dlci-
dend of 100 per cent was in contempla-
ton IN order 10 increase the company's
stock capitalization sufficiently to per-
nit the lawful issue OF rev bonds In
payment for recently acquired lines.
Metropolitan Street railway lost Az per
cent; Manhattan 2S and Consolidated
Gas 59s per cent. Sugar was down tx
per cent, partly on the fear of the pro1-
unity OF Increased competition In the
trade. The steady decline In this stock
tended to color recent reports that in
side support had been withdrawn for the
time being The break In Northern Pa
cihc preferred of1k per cent accompan-
led ms 1t was by weakness In Canadian
Pacific, was taken to Indicate something
unfavorable as forthcoming In regard TO
the rate war. New York Central and
the Changers showed little resistance to
attack. There was further engage
mcnt for import of n moderate amount
of gold, making the total OF the present
movement Including that from Austria.
I, LA. nearly s3j000.OO0. The foreign ex-
change market exhibited heavlness to-
day and some concessions We're troticcd
In rates, posted figures in one instance
being lowered &c. This incident Is re-
garded In a measure as presaging Il FUR
Their influx of Snld, t,,
Quotations for railway mortgages con-
tlnue TO sag on light offerings which for
the most part consisted Of usually active
speculative liens. The total trunsac-
lions 81 100. 600.
/ Government bonds displayed extreme
weakness. the new A coupon and regis
tered and nd is coupon yielding l per
cent IN the bid price: the old IS, register
ed suffered to The extent of " per cent
and tho 5s coupon aud registered lost J!
percent cnch. 4&s h z u +, III b z {. a
Evening Posts London financial ca
blegrlnl:l E isl
The stock markets here opened nat to-
day on the London Mmes cables CON.
corning the Chinese concessions to Rus