The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-07-23
T1NANCE An Trade
The Features OF tho honey aud stock
Markets.

The Features OF tho Honey and stock
Markets.
NEW YORK, July 22.-Money on call
steady at 15tG1Is per cent; last loan "
per cent. Prime mercantile paper S4sSy,4
per cent. Sterling exchange easy with
actual business In bankers bills a
/ 81 S5l "a ssh for demand and at I @g
4 S4H for 60 days. Posted rates S6W
4 S6li. Commercial bills 81 SSA. Silver
certificates 591z46OAc. Bar silver 6S9tc.
Mexican dollars 46c.
The stock market continued In the
hands OF the small room trades to-day.
who dealt almost entirely In Industrial
Srecialtles. They advanced prices OF
these early and this held UP the stand
ard railroad stocks. Realizing in the
specIalties later in the day caused q
/ sympathetic decline in the railroads,
carrying prices In many cases slightly
below Yesterdays close. Except where
stocks were influenced by individual
causes the total range OF prices was mar
row and without Significance. The dull
ness may be quite equally interpreted as
| indicating a Discrimination to buy at the
present level or as an unwillingness to
sell. The future of the international
trade situation Is still so obscure that
speculators are not ready to commit
themselves. Very little light was thrown
on the probabilities by the days grain
markets. which were not very active and
were hesltatinE in tone. There was
weakness In the continental grain mar
ket and there was selling here, said to be
for foreign account, indicating the trend
of opinion that foreign crops as well as
our own nre likely to yield largely.
There were evidences Of pressure OF
funds seeking investment, but they man
Tested themselves in bonds rather than
In stocks. The large demand for the new
government IS, which were traded in on
the exchange when issued" had ia
vorabfe sympathetic effect all through
the market. This bond sold to l04Ss, the
last sale being at that figure. Bids were
for small as well as for full share lots OF
s., 900. The advance in other govern
ment bonds was called sympathetic.
The advantages of the new issues for
| the purposes OF circulation make keen
demand for them from the banks,
though the present and prospective
cheapness Of money tends to diminish
their value for this purpose. Railroad
mortgages were absorbed on large
scale to-day. The well secured bonds OF
reoTganIZed roads whose value under
reorganization has not been clearly Ak
cd. were Lne IhNoTlleS. AHcTe hlsu was
active demand for the more speculative
issues OF the roads still to be rcorganlZed
or whose payments of interest are con-
tIHgent upon earnings The plentitude
OF money also found reflection in Wall
street In talk OF syndlcates preparing
for financial ventures In eastern Cubn.
The loans were made for six months
at the rate OF three per cent, and ster-
ling exchange continued heavy under
offerings Of grain bills, London also
bought stocks here In spite % stinen-
ing of London discount rate IN sympa-
here
Total sales of railroad bonds, par
value, Si645,OOO.
u. S. % advanced I, the new registered
q. the old Is registered and the new IS
coupon Y and The IS coupon 4 in the
bid price.