The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-08-05
rINAFcH AND Trade
ne Fsasurrs Of lhe Honey aud steel
Markets.


Markets.
NEW YORK. August l.-Money on
call at 16i1s per cent; last loan ~ pc;
cent. Prime mercantile paper shG4 per
cent. Sterling exchange firm. with &C,
tual business In bankers' bills al
q s5&64 s5ss for demand and al
q ssE9l 81 for sixty days; posted
rates 81 sllka4 IS and 81 1904 ss5s
Commercial bills 81 s2&. Silver certlh-
Gates 6SIIAs95g1Sc. Bar silver Csc. Next
can dollars l51sc
It was obvious from the develop
ments IN livestock market to-day mat
wealthy and powerful spectators were
placing very large amounts OF money
In the grangers stocks In anticipation
OF a rise in prices. There were many
Indications also that some Of the funds
which were being placed In the gran
gers were derived from sales OF some OF
the more prominent industrlals special.
ties which have shown such recent
large advances In prices as to Yield 4
handsome profit on the sales. This
shifting OF speculation IS an episode
which invariably occurs in the course OF
long continued advance In prices. The
preliminary movement In the highly
speculative industrlals II generally
quite apart from any general condition
OF business and industry. The later
awakening OF the more substantial
railroad stocks is looked upon as indi-
eating more Vital stage OF speculation
and Investment. There was a broad
and confident demand to-day through
the whole OF the railroad list. much of
which must have come from the out
side public. In many stocks this grow
Ing demand was met BY a steady
stream Of offerings which left prices, In
spite Of quite large volume Of trans
actions, only slightly higher than last
night
The shifting OF speculative accounts
involving profit taking in the indus
trials, encouraged bear attacks, partlc-
ulariy In Sugar, Rubber, Cotton oil and
Tobacco. The whole railway list held
remarkably firm IN face OF the weak
ness in the specialties, the closing
showing strong tone at or near the
top. Rock Islands June statement.
showing an increase over last year In
the net in spite of largely INCREASED OPP
Grating expenses was one factor IN en-
couraging speculation IN the grangers.
but the statement OF the Chicago. Bur-
linqton & Quincy for June and for the
fiscal year was the decisive influence.
The assurances Of peace and the pass
Ing Of the critical period for the crops.
making sure the harvesting OF an UNI
precedented volume OF products. gave
assurance OF continued prosperity to
the country after year Of uneSnmpled
foreign trade. This general condition is
OF course the basis OF the Inception OF
an upward movement OF prices and
securities due Immediately to "a specu-,
latlve Initiative In the grangers. -.
There were very heavy dealings In
railroad bonds today. the demand be.
Ing very widely distributed, but most
urgent in the reorganlzat ton per cent.
The total sales were $7.94O,O0O, said to
be the largest days business on record.
There were large dealings IN the gov.
eminent IS to-day at l05. one block OF
S4l5.0O0 going at that price. A small
block of the issue sold for 1854. Uni
ted States old Is coupon advanced Y
per cent In the bid price. There was no
other change.
The total sales of stocks to-day were
S20,S00 shares.