The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-08-17

4 nor cent. sterling exchange steady
VITA actual business In bankers piiia
A. "a $4,000 s5sf for demand ana az
81 s46lI az for sixty days. Posted
Tates q 84ikd4 IS and 81 $500 a5!s; COL
n,ercial bills "a s214 S3lz Sllvcr ceItih-
Gates $50, d59kc. Ear silver 59;sc' AleN-
lean dollars 46c- -.
There was sim further advance In the
price OF stocks all along the line to-aaS'
ana a stIll further increase IN tne mum nm
Der Of shares sold during the aay; Ine
number Of different stocks treueu ~ We
also larger, rejecting the broadening
Interest in the market. Buyins o IuSts
from outside sources were plaqeu win
comnIgison houses more extensively TO-
dny than on any day since the move
mont bcRan. AS was the case yester-
dny. this outside demand was taken ad-
vantage OF to realize profits by the COM
blnatIon of large speculative interests,
which Is all the time operating on an
enormous scale, shifting Its activity
from one stock or group OF stocks to
another. The grangers all showed the
effects OF realizing to-day. and did not
rise materially above yesterdays clos
ing price at any time. SO large were
the offerings OF these stocks during the
first hour OF trading that the heavy OUT
side demand proved insufficient 10 an
sorb them, and a sharp decline was the
result. Burlington dropped over a
p6int Offerings on a large scale were
thereuDon withheld and the group main
tnined q firm tone at a lower level, ex-
cept for Intervals Of profit taking. The
hears endeavored to tnke advantage of
this profit taking movement by an on
siaught upon Manhattan and Sugar at
the opening, hoping that the recent per-
sIstent weakness OF these two stocks
would mike them vulnerable and eject
i've IN breaking prices. But the bulls
at the same time lifted the Northern
Pacific stocks point each at the open
ing, and marked up Rubber preferred
AZ per cent. The outside demand Tor
stocks all through the list was 80 active
and varied as 70 lend ample support Tor
continued profit taking by the bull
cIJsns The hears were soon routed,
and Manhattan and Sugar moved up
wards along with the general list.
Northern Pacific and the Union Pacific
stocks sagged at intervals, but the Tor
mer returned persistently to the OPEN
ing high level. An incident OF the day
was q notice on the tape Of the loss OF
1000 shares Of Union Pacific preferred
In the name Of William Rockefeller.
New stocks were constantly being
brought forward into activity during
the day and were advanced one after
the other to materially higher level.
Southern railways and some OF the
western roads which are affiliated with
trnnscontinental systems showed nota-
BILE strength. There was also marked
activity and strength In long list OF In
dustrinIs, Tobacco. Peoples Gas, Lead,
Tennessee Coal and the Rubber stocks
being especially conspicuous. There
were sharp reactions in most Of these
on profit taking, but they rallied again
before the close. The close was firm
and active at only a little below the best
and at a materially higher level OF
prices throughout.
The demand for securities has appar-
emily been largely diverted to the stock
market, and bonds were comparatively
duh to-day. but prices were very well
held. Total sales $3,5T5,0O0.
United States Sc, when Issued, were
Y lower bid. Governments were other
wise unchanged.
Total sales OF stocks to-day, 7Os,sOo
poNyrs Avn erocR QUOTATIONS.