The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-06-16
FINANCE AND TRADE
Tho Features OF the Money and stoc
Markets. t s5 ~.

Tho Features OF the Money. and Stock
Markets.
NEW YORK. June 15.-Money on coll
steady at 1HGlh per cent; last loan II
per cent. Prime mercantile paper SG4
per cent Sterling exchange easier with
actual business in bankers bills at
81 S5@4 ssh for demand and at 81 S3s.@
81 for sixty days. Posted rates 81 $50
4 S5,s and 81 s61s@4 81. Commercial
bills 81 S21lsG4 So. Silver certificates
5sa5S&c. Bar silver 5SAc. Mexican
dollars i5Hc.
Speculative observers who argued
that the two days reaction In the stock
market has been due to apprehension Of
the effects OF liquidation consequent up
on the collapse OF wheat deal. were dis
appointed to-day. The pressure on the
markets from that source was 9practlc-
ally removed by the announcement that
the, enormous holdings of cash wheat
owned by the defeated wheat specula-
tor had been taken over b. powerful
financial interests, who would be able
to save 1t from being sacrificed a.
forced sale. The course of the wheat
market very plainly indicated the ter
mlnation OF the crisis, but. there was no
movement to advance prices of stocks.
Apparently the leaders OF speculation
have arrived at a mutual consent to let
the market take IT'S course for the
present without further manipulation
for q rise. The course of prices was
consequently downward in q rather
dull market. Extreme declines Of a
point or over were registered in most of
the active stocks during the day. Sugar
was the centre OF interest and dropped
persistently until the last, closing only
II above the lowest at net decline OF
over points. The expectation OF ia
vorable vote on the Hawaiian annexa-
| ton bill was the motive assigned for the
selling.
The stock was traded In ex-divIdend.
| The embarkation OF the army OF inva-
sion for Cuba adds to the posi-
| bility of a setback in the CAM
paisn which would also hurt the stock
market II 1t were to occur This and
the approach OF the critical period OF
the crops served to emphasize the
waiting disposition of speculation.
Fears of tighter money as result of
the bond issue We're also advanced by
the bears. But It Is probable that the
banks and large financiers already.
| have In hand the funds which they ex-
pect to put into the new bonds. It is
evident that the banks and capitalists
are preparing to take all of these bonds
they can get; that Is, all that are left
after the smaller subscriptions are al
lotted. II they get what they expect,
the bonds they secure will be used for
circulation and thus supply the money
market. II the popular subscriptions.
on the other hand, are larger than ex-
| pected, the funds accumulated by
bankers and capitalists TO buy the
bonds will be released to the money
market.
| Railroad bonds were heavy IN sym
| pothg with stocks. Total sales, $780,
| 900.
United States old IS coupon advanced
| IL and do registered z per cent In the
bid price. There were sales of.the new
As coupon at an advance Of IL per cent
and of the IS coupon at an advance OF
| IS per cent over the preceding sale.
The total sales OF stocks to-day were
| 36I 400 shares -t.. 49, IS