The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-04-02
FINANCE AMI TRADE
Tho Feature. OF u, Money aud s,oeN

Tho Features OF tlir Money and Stock
Markets.
NEW YORK. April Money on call
| firm at 2d6 per cent; last loan 4 per
cent. Prime mercantile paper 5G6h per
cent. Sterling exchange weak, with ac-
tuai business In bankers bills at
81 S3ha4 sS% for demand and at
| 81 sOTG4 ST Tor sixty days. Posted rates
81 Sr1sG4 81 and 81 S4M@4 So. CONNER
| cial bills 81 so. Silver certificates 55Sn
5GAc. Bar silver J5hc. Mexican dol
lars d5c.
The process which went on In the
stock market to-day was a crumbling
and dislntegratlon of prices. There was
a laree and influential party In the en-
change who manifested their confidence
In n peaceful settlement between the
United States and Spain aud who in
creased values OF securities BY deter
mined support OF prices all through the
|tearly dealings. The buying by this ele-
mept during the morning hours was
very large, but prices kept slipping
downward. The weight Of the growing
| depression proved TOO heavy to carry
and the lale attempt was abandoned In
the afternoon when n generally heavy
liquidation was in full force. Some Zee
Bile rallies at the close indicated that
| some part OF the days declines was due
to short selling. but the recoveries from
the lowest were very small and net
| losses OIL tho day ran from two to over
five points In the principal active stocks.
| The ground OF the early confidence by
| some operators that war would be
| averted. was shrouded In mystery. 1t
| seems to have beer founded on the in
| ference that interest on the Spanish As
which was paid to-day, in spite OF re-
| cent doubts whether the money would
| he Forthcoming. was advanced by the
! RothschilJs, and that the advance was
based on knowledge tina: the Spanish
government would make Il peaceable
| settlement OF the demands OF the United
States. But as the dag advanced the
| fact took more and more definite shape
| on the news from Washington that the
| Spanish government had, on the con-
trary, refused the demands of the Uni
| ted States. The consequence seemed
necessarily to be that the whole ques-
tIon would be submitted 10 Congress
for settlement. This was felt to involve
the abandonment OF diplomacy and an
early resort to force. All the indications
usually regarded as trustworthy as to
| political developments we're very con-
| Trajectory In the early trading. Ameri-
| can securities after opening of in Lon
| don, improved before the opening here
and advanced quite violently after
trading had commenced IN New York,
This early weakness was in spite OF the
fact that carly advIces from Madrid
were rather optimistic. Spanish IS
which were traded in ex-coupon fell
th.ec full points In London before the
rally set In. then recovered ~ per cent,
apparently on the early strength shown
by the New York stock market. This
early strength here rallied prices sew.
eral times TO or near last nights Level
and Il wns not till the afternoon that
the market took on Its decisive tone OF
weakness. 4 significant feature OF the
day was the marking up OF call loans tc
6 per cent. This was due to the calling
OF a moderate amount OF loaps by the
New York banks. But the shifting Of
these loans developed n small amount
OF money offering and the sharp stiff
fleming In rates was the consequence
Exchange rates responded TO the hnr.
dcning OF money by q fractional, de.
cline, though the days engagement oil
gold for import was, only about half a
million dollars. The growth of the sell.
ing. for Washington ccoun as the day
progressed was an essential factor In
the late break in the stock market.
Bonds were not SO active as stocks
but the volume OF liquidation Increased
as the DAY progressed and some sharr
net losses are shown. Total sales. 1850.
900. Government bonds were weak
throughout. The new Is coupon fell 2E;
do reg. .; do Is reg. l and reg. l per cen,
In the bid prices. There were sales OF
the new IS coupon at 81 21Is, n decline
OF rs per cent from last nights bid
price.
The tital sales of stocks to-day were
sol. 100 shares.
Evening Posts London financial ca
blecram:
The stock markets here were feverish
to-day pending developments OF the
Amerlcan-Span!Sh controversy. Hav-
ing Interviewed leading American and
other financial houses here, I find tina,
the consensus OF opinion favors an ami
cable settlement. The belief here Is that
President Mckinley so framed the dis
patch to Spain that. while thoroughly
preserving American dignity, Spanish
pride was du.y considered.
Weak bulls In Americans. however,
were unable TO stand the tension on
their nerves and flung away stoyks in
discriminatory. This movement rAnr aa-
sisted by n sharp fall In Spanish Is to
40, although they subsequently, ci0sau
Mt 5Oi.. This drop must not be con-
nected solely with the strained reia-
tons with the United States, but as a
result Of the forced safes from Paris.
The Paris bourse was dull during the
progress OF the settlement and on the
Tinto dividend.
BONDS AND STOCK QUOTATIONS.
U. s.. new ds reg ,191 lore. r. e Nav. AZ,
ID caIinnn lnl lPltt shur,.h ~.