The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-01-01
FINANCE AND TRADE
Tbs Features OF the Money md sto,
BIS adt5 Markets. m

M rANhNVE ANN lRADE ise3s,l.Hs
This Features or the Money md storh
.f Markets. IN y
NEW YORK, Dec. 2l.-Moncy on Gull
firm Mt a4G1 per cent; last loan 4 per
cent; closed at 9}4q4 per cent. Prime
mercantile paper 3MG4T per cent.
Sterling exchange dull and easier with
actual business In bankers bills at
81 S49sa4 SiI for demand and at 81 So
for 60 days. POSTED rates 81 S23s@4 SO
and 81 S5i5G4 Sc. Commercial bills 81 81,
oil Slit. Silver certificates 51Aq5Shc,
Bar silver 67Ac. Mexican dollars 46Ac.
Io-day's market for stocks was very
dull and net changes for the most part
are trivial, and ure divided amongst
gains and losses without much SEM
blance OF consistency or order. The To-
cal traction securities were the favor
ties, as has been the case for many days
past, anu they rose at one time sharply
above last nights level under the belief
that they would benefit even II the pro-
posed rapid transit project was consume
mated. Brooklyn Rapid Transit en-
joyed special advantage from the re-
ported judicial decision denying an in
junction against the use of the western
bridge terminus for loop. This stock
was at one time ia above last nights
level and held over q point OF this gain.
Sugar was also strong feature and
rose at one time X. but held only q
fraction OF that amount. The Wander
bits were traded In eX-dividend to-day,
Lake Shore gaining n point. Other
stocks which were notably strong were
Buffalo, Rochester & Pittsburgh pre-
ferred, which rose %, and do common,
which gaired points. American Splr-
its preferred also gained points. There
was considerable activity in the grang-
ers with carly strength, Burlington
crossing par, but later recessions car
rled prices below last nights level.
News this morning from foreign ex-,
changes disslpated all the apprehension
caused by yesterdays reports that the
British naval reserves had been ordered
out. British consols advanced q frac-
ton In London, unfaillng barometer Of
peaceful outlook. The tlrlnness of the
wheat market also relieved the uneasl-
ness in speculative circles over the out
come of,the great December deal. The
bank statement was dlsre garded, as It
is so involved with the Union Pacific
operation as to offer no Indication of the
drift of general conditions. The some
what contradictory trnness of money
and hardness Of foreign exchange con-
t!nue6 to-day, though both markets
were very dull. The sub-treasury had
N,4iG,I4@ to pay ut the clearing house
to-day, again rejecting the continuing
repleEisnmeTt OF the money market
from that source. There was dlspo-
sitlor to make much OF the exceedingly
favorable November statement of the
Pennsylvania system. The Increase in
gross earrings for the whole system
over November Of last year was Sl.492,-
400. and the increase In net was S159, 800,
The week has been one OF dullness on
the stock market, and outside Of few
speclalties of u highly speculative char
acter, almost apathetlc. Trading has
been in the hands Of professional room
traders and outside interest In the mar
ket mas been insignificant. Various
causes have contributed to the dulIness.
The holiday season has kept many OPP
orators out Of the market. Dealers in
stocks have the habit common TO all
business men of closing up accounts
With the end OF the year as far as pos
siDle and OF taking account OF c0ndl-
lions before entering upon new ven-
speculative accounts during the week in
accordance with this custom, the effect
OF which has been especially manifest
in the speclaNies recently the favoritese
In speculation. Profit taking In the
stocks of local corporations caused some
sharp recessions In values, but later de-
relopments have resulted in racoveries
The decisive factor in restricting spec
u!atlon, however, has been the Stiffness
OF the rates for money and the appre-
hension Of squeeze at the close of the
year, an apprehension that has grown
less and less as the week progresses,
Mondays payments to the government
by tie Union Pacific syndicate or al
most $500, 900 nccessitated an extensive
shifting OF loans and consequent dis
turbance OF the money market, which
even the elaborate precautions OF the
banks and the government were not
wholly effective In avertng. or the
Union Pacific payment 81 0C0.O0O was
left on deposit In New York banks and
the i,oC0,0G0 paid into the treasury WIS
more than offset by amounts paid out
9n account OF Pacific bond reGempt.ons
on Monday and Tuesday. The money
market has been repleElshed by ad-
ditionai amounts on this account each
uaS VI tHe WeSf. anu ullEOuSH rates Tor
money have been pretty stiff, there has
been no strinscncy. The hardening Of
exchange, which became pronounced on
Thursday, reflects n confidence that
rates for money VIII work to an ea2ier
basis soon after the first OF the year
Expert estimates of the amount 10 be
dlsbursed in January dividends ard IN
terest make them for New York, SOC. O0O,-
COO; for Boston, $4,000 900. and for Phil
ndelphla. $lo,0N0.00O In estimating the
future OF the money market other facts
can be considered. The government