The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-04-08
FINANCE AND TRADE
The Features OF the Money aud Stock
Markets. E-.

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The Features OF the Money and stock
Markets.
NEW YORK. April 7.-Money on cali
steady at :G2& per cent; last loan .
per cent. Mercantile paper tprime) 5,sG
9 per cent. Sterling exchange steady.
with actual business in bankers bills OF
81 s5hai S3h Tor demand and 81 SoA
for sixty days; posted rates a S0,ss9
: sly and 81 siat si,k. Commercial
bills 81 so. Silver certificates 56157c. Bar
silver 55%c. Mexican dollars 45c.
The conviction Is evidently unaltercd
in Wall Street that the delay in PEE
senting the President's message to Con-
Sress adds to the possibilities OF
peaceful solution OF the Cuban ques-
don. The market closed q shade lower
to-day In the average. price. Individual
losses were in almost ali cases confined
to fractions and there Is a fair sprink-
ling OF gains among leading stocks.
Only q small proportion of the sharp
advance which came with yesterdays
news that the message was to be de-
layed until Monday was wiped out.
The professional bears showed no dis.
position to renew their contracts. Neith-
er was there any sign OF liquidation OF
long holdings. The only buying demand
was caused by some slight covering OF
shorts and very limited amount of
commission house buying. The result.
was an almost staSnant market. There
was no development OF the day which
awakened It from It's letharsic condi-
ton. That this dizziness IS due to an
attitude OF waiting was evident from
the subsequent activity when It be-
came known yesterday that the Presi-
dents message was delayed and when
1t supposed that the delay indicated
probable concessions by the Madrid
government. The public impression In
Wall street Is that; the undertone OF
frmness in the market is due to some
hidden motive. generally. supposed to be
the expectation that Spain will yield TO
pressure from the European powers
and from the Pope and will concede the
demands OF the United States. To-day's
small losses in face OF the generally
threatening aspect OF the situation
could not only be explained on the by
pothesis that peaceful solution is still
hoped for. There are. however, demon
STATIONS In yesterdays late bulge that
large offerings to .eal!ze are brought
out by any sharp advance in prices.
Professional Operators on either side
are warily watching Cor the definite de-
velopments OF the, situation. It Is
thought possible that the liquidation
usually incident to q war scare is wait
ing for the expected heavy demand
from the large short interest which un-
doubtedly exists in the market. This
short Interest Is waiting for an actual
declaration Of var TO cover. On the
other hand there are those who hold
that actual war has already been suffi-
ciently discounted and that the firm
ness In the market IS due TO this cause.
The situation in the money market Is
felt to be one fortified against even a
severe shock. Bank reserves al! over
the country have been greatly strength
ened- The gold reserve both OF the
government and OF the New York
banks Is large. unp-ecedentlg so In the
case OF the latter. and It is constantly
growing A large proportion OF the
payments at the custom house are made
In gold and the clearing house balances
are in great part settled IN the same
metal There IS no immediate prospec..
OF international exchanges turning
occurs there will be gold imports to re-
plneish the money market. To-lay's ad-
vance In the Bank OF England rate did
not check the engagements OF gold. but
served to shift the demand somewhat
from London TO Berlin. The rise IL mo-
ney In London resulted in rise in the
Berlin and Paris rate OF exchange on
London.
The bond market was almost wholly
neglected. but prices were firm. Total
GALES. s1.050,000.
United States new As advanced l per
cent, the old Is registered y per cent,
and the IS Y per cent In the bid price
to-day and the % declined ~ per cent.
There were sales OF the new As coupon
at 12oA, an advance OF z per cent over
yesterdays sale price. To-day's> last
price was 122. #
The total sales Of stocks to-day were
2ST. 800 share5.
Tho Evening Posts London financial
cablegram:
The stock markets here opened good
sir. g'-r- NXyTTII TITI- IA rrr~