The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-07-08
FIHANCE AND TRADE
The Features 81 the Money and stock
Markets.

1ho EeAtuEeA 81 inc Aouey t@AA 1ASS-
Markets.
NEW YORK, July 7-Money on cali
steady at 1913 per cent; last loan ~
per cent. Prime mercantile paper 3H94
per cent. Sterling exchange firm with
actual business in bankers bills at
81 S6Y@4 Sc for demand and at 81 S4%
"a So for 60 days. Posted rates 81 S59
S5Ih and 81 8Gts94 81. Commercial
bills 81 1914, Silver certificates bsesQ
5sAc. Bar silver 5s%c. Mexican dol
lars 45Ac.
To-day's advance in prices was prob
ably intended as an Rdmonition to the
bear party that they were not to be al
lowed to have their own way in forcing
down prices even in the existing DUH
ness OF speculation. To-dRy's buying
gave no indication that It grew out OF
an urgent desire for the ownership Of
securities but seemed rather an organ
lied effort to mark up prices. There
was some covering Of short contracts
induced by the advance, but nothing to
show that there had been any large
outstanding short interest In the mar
l5et. The advance In Sugar may have
been due to buying by shorts to realize
their PROFITS on the adoption Of the Ha-
wRilan annexation resolution by the
senate yesterday and probably the de-
mand from this quarter induced some
bidding. UP Of the stock to exert pres
sure on the shorts.
The buying Of the Vanderbilts was
clearly a professional manoeuvre by
large bull interests. The gains in these
stocks ranged from to points. The
powerful sympathetic effect which this
group always exercises on the balance
Of the list was shown by the general
responses to-day after the opening de-
preston caused by lower prices in Lon
don. When the short lived buying in
the Vanderbilts ceased the general list
showed slightly reactionary tendency
but not sufficient to wipe out the earlier
gains. The pushing UP Of prices Is
clearly designed to invite outside inter-
ests in the market, but no such interest
was manifested to-day There were
speclai movements OF note In the rub
Der stocks and Of Manitoba, which is
guaranteed to yield per cent by Great
Northern, sold up points and was bid
up before the close points further TO
isl. The pending adjournment OF con-
gress and renewed reports that Spain
was about to sue for peace tended to
help the rise. Reports OF railroad earn
ings were also encouraging, handsome
advances being shown over the coTre-
spending period last year outside the
grain carrying roads. on which the traf-
fic reached abnormal proportions last
year. The money market continues
easy, notwithstanding that the banks
are losing money to the sub-treasury by
reason of the collection OF subscriptions
to the new bond Issue. New York ex-
change in Chicago fell to-day to par, as
against 20 cents premium yesterday.
There was rise OF IL cents in the ac-
tuai rates for sterling exchange in re-
spouse to the hardening in the London
money market.
Kings county elevated firsts were the
feature In bonds with a rise OF per
cent. The county's stock advanced to
12A bid In the outside market, against
sales last week ut 3. Prices generally
were about steady. Total sales $780,
900.
Quotations in government bonds were
unchanged throughout.
The total sales OF stocks to-day, were
90l, 200 shares.
BONDS AND STOCK QUOTATIONS.