The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-09-13
r1kAKfE AEn TRAnE
Ths Feature. % ths Money and siasA
sinrLrts.


NEW YORK. Sept. i2.--Aioney on cali
firm at sg4 per cent: last joan 3 per
cent. Prime mercantile paper 4Q5iE
per cent Sterling exchange heavy,
with actual business In bankers bills
at s. s4h04 SIZE for demand. and at
81 s2H&4 S2h for sixty days: posted
rates 81 SSis94 S5lz; commercial bhls
81 Sihd4 IS. Bar silver 605sc. Mexi-
can doiaTs l6%c,
There was q continuation OF appar-
emily urgent lIquldatiuIl on the stock
exchange this morning, caused by cov-
erIng OF short stock, which speedily
wiped out the receoveFieB OF Saturday.
and carried prices Sharply below the
lowest level Of last Friday for al STAN
dard stocks. But the pressure Of LIQUID
alton seemed to be relieved By noon.
and there was a disposition 10 pick
stoclSB quietly, and to accord support
to the weak spots, notably St. Paul. The
dealing in odd lots Of some OF the STAN
dard dividend payers also became quite
a feature, indicating q supply Of mon-
ey for Investment, notwithstandjng the
stifEness OF the local cali money mar
ket. Weakness in some Of the Indus
trial speclalties caused the market to
ease on again before the close, but last
prices OF the railroads were In many
cases at sharp recoveries from the low
est. Nevertheless, marked losses re-
suited from the days trading, owing
to the severity OF the pressure early In
the day. There was continued appre-
henslon over the outlook for money, but
the government crop report and the
snow storms in the west, were also ma
terIal factors. The crop report, though
bearish on the corn crop, as a whole
showed sharp deterioration for Kan
sis, Nebraska and Iowa This. coupled
with snow storms in the corn belt, was
very clearly indicated In the weakness
Of Rock Island, Burlington and Union
Pacific, There was no actual develop
ment to account for decline OF Rppre-
hensjon over the money market outlook,
and how far this feeling was connected
with reported conference OF leading
bankers is not certain. There was a
growth OF conviction that there is a
large available supply Of money outside
OF New York City. Money rates are
easy at interior points, and there Is even
buyinC OF commercial paper In the New
York market by western banks. 1t Is
quite possible, also, that larger
amount Of the new government threes
might be made available, both for pur-
poses OF circulation and as security for
government deposits in the banks than
has yet been the case, In the event OF
any real strIngency OF money. Never
theless the drain OF cash from the
banks to the sub-treasury. on account
OF subscriptions to the loan continues
and the sub-treasury was even a credi-
tor at the clearing house to-day on ac-
count of an accumulation OF drafts
from Interior depository banks, IN
which government deposits have eX.
'ceeeded their security by reason Oh
heavy internal revenue collections.
There we're rumors al day OF engage
ments of gold for import, but none OF
these were confirmed.
The eaeler tone OF the money market
and the consequent recovery IN the
stock market were apparently due to
other causes. The larger demand Tor
wheat and the evidence OF underlying
strength in the wheat market, In the
face OF the bearish government crop re-
port had some influence In the stock
market.
The bond market was duh, and show
ed some weakness, in sympathy with
stocks. Total sales Sl,6IO.O00.
United States 2's advanced y per cent
and the old as registered 4 per cent in
' Evening SI Posts London financial ca
blegrafn:
The stock markets here were general
~ dull to-day. on the Austrian news on
the report OF French occupatto.l OF Fa-
shoda, and on a telegram stating that
the Gillian government had called out
5000 men OF the national guard. The
COLLAPSE Of Argentine stocks was partic-
ularly marked. COnsols also were
Americans opened fiat, turned weaker
on selling here and. closed at about. the
lowest on the continuance OF New
York. Later business was assisted by
heavy purchases By Paris and the
Cape.
37s.S0O shares.