Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-07-19
FINANCE AND TRADE.

4NeW OIh, July Io.-EV6QlUS FOSC S
London financial cablegram:
The stock markets here were stag
nant to-day pending developments Of
Spanish-American affairs. Americans
were dull, dropping and quite feature
less
The Paris and Berlin markets were
quiet.
New York, July 18.-Money on call
steady at IN OLE per cent; last loan
11a per cent.
Prime mercantile paper 3%@4 per
cent.
Sterling exchange steady with actual
business in bankers bills at $4S5A @
4.S6 for demand, and at $484R@
4.84A for sixty days. Posted rates
$4.S5k@4.S7. Commercial bills $4831a
Silver certificates 59h@59Ac
Bar silver 59Ac.
Mexican dollars 1850 go
Government bonds Irregular
Y. s. new IS registered. 1913 @124
Y. s. new As coupons. ...........1 25
y. ;. As registered. .......... 10912M110
=. 3 9a coupons ..'...............n OIL
- % -dS 30
U. S. IS registered .11l @112
Pacific 6s of 50. .................10 1
State bonds dull
Railroad bonds weak.
Stocks-The downward movement in
stocks to-day was checked before the
close and the level of prices brought
back slightly above Saturdays close.
But it cannot be said that the market
| was sustained by any buying demand,
for it's lethargy was almost complete.
The break of four and one-half points
| IN Metropolitan Street Railway, due to
the pending suspension of traffic on
some of its lines during the recon-
struction period, was the main unset
Ting factor in the morning. Quite a
heavy decrease in earnings of the New
York Central for June and the shrink
| age in the east-bound rail freight move
ment, due to the lively competition of
the lake lines, were also factors of
weakness. New York Central decline
was, however, only fractional, and it
recovered IA in the late dealings Buy
ing of Brooklyn Rapid Transit on the
continued increase in earnings was also
a sustaining factor, and the recent pres
sure against the cOalers ceased, those
stocks generally showing gains. All
indications point to coming redund-
ancy in the money market, but no evil
dence of AN overflow of funds into
stocks was manifest to-day. The al
lotment of the government bonds, it
is felt certain, will result in the release
Of large sums on account of rejected
subscriptions.
The usual demand of interior mer-
chants for money at this period is not
evident in the New York money mar
ket, the flow of funds during the past
week having been from the interior to
New York. Lenders of money, there
fore, have little hope of getting better
rates in the immediate future. Re-
newed attention is called to the fact
that the trade balence in favor of this
country has been S615, 600 for the
year, while the net imports of gold have
been barely 500 100000 Making all
possible allowance for the various items
in the concealed adverse trade balance
such as foreign sales Of our securities,
ocean freights, payments of interest and
dividends to foreign holders and for
eign expenditures by American travel
ers. it is certain that an enormous bal
ance in our favor remains still unliqui-
dated and available On demand. The
hesitation in the stock market is there
fore difficult to explain.
Business in bonds was light to-day
and prices sagged early, but later recov-
cred Total sales S21, 240 900.
United States old As registered de-
clined "a and the 5s coupon advanced
II in tho hid Drice
The total sales of stocks to-day were