The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-11-30
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NEW YORK, Nov. 29.--aIoney on can
steady Al z@21s per cent; last loan
per cent Prime mercantile paper ~ q
44 per cent Sterling xchange easy.
with actual business n bankers ibllia
at s. slk64 si4s for demand and Ct
81 s2ik64 SEX for sixty days; posted
rates "a s264 50 and q s594 Sc. Conn
mercial bllls "A 81. SILVER certificates
COZ a6iA. Bar silver 5sA. Mexican
dollars 46s5t.
Profit taking was the order on the
stock market to-day. Some attempt was
made 70 resist the declining tendency,
but the persistent selling tolreali&e ule-
couraged the elfort, ana support was
finally withdrawn throughout the list.
Yesterdays strong demand for London
account fell of to-day, and II wa gem
orally supposed Il would when the
effect OF this buying on the sterling ex-
change market was remarked. Ine APP
preach Of exchange to the gold import
point resulted IN an advance In the pri-
vat6 discount rate in London again to-
day, and this caused rise Ia London
exchange at Berlin, which continues to
be the real center Of the pressing need
OF money. This stlhenlng Of the discount
rate In London did not avail, however,
10 prevent q further weakening IN eter-
ling exchange at New York. Posted
rates Wers reduced half cent and the
actual rate for demand sterling fell 20
81 s5h under the large offerings OF grain
and cotton bills against exports. This
ID the level for exchange which brought
~ fheEG
In little doubt that gold would have
been engaged IN London for import to-
day had Il not been for q further rise
In the price of the metal IN that market,
bars advancing a half penny to 71e 1l4ad,
and American eagles & penny 20 l6s
Sid. London ceased to buy Americans
under the stress Of this threatening cone
dition In the exchange market. Never
theleas, the market showed advances at
the opening here. and was sust0ined by
heavy buying Of the Changers on the
Burlington statement It was evident,
however. that Fart OF the recent buy
ing Of the Changers was In anlcipa-
lion Of this statement, and the same
was evidently true Of Union Pacific,
which, with large increase in gross
earnings and reduction In operating eX-
penses, showed an addition to the sur
plus of 1901, S91. The publication of these
statements was therefore met with
heavy realizing. There was, in addition,
continued realizing in Atchlson prefer
red and some selling Of Northwestern &
Omaha by holders who were disappolnt-
ed at the failure to increase the North
west dividend. There was strength
amongst the Southwesterns and some
Southern railways, Central and South
ern Pacific and a number Of specialtles,
Including an extreme rise Of ~ in SUI
gar and an upward movement also Of
some of the low-priced stocks, remote
from any dividend chances But these
were insufficient to counteract the gem
eral downward tendency, which finally
prevailed. and made the closing weak at
the lowest prices generally for the day.
Edison Illuminating Of New York made
conspicuous advance OF IL points to
1856.
There was strength In few points in
the bond market. but the general ten
'dency OF prices was downward, In SYM
patty with stocks. Total sales, A,105,-
900.
United States Is advanced 4 per cent
and the IS Is per cent in the bid price.
The total sales OF stocks to-day, were
6I4,S00 shares,