The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-08-25
r1EAxCg AND TRADE
Tn, Features Of the Money and stncl
Markets

THIS Features Of the Money ana StncH
Markets
NEW YORK, August 24--Money on
call firm at 1AG2 per cent; last loan 2
per cent. Prime mercantile paper $40
~ per cent. Sterling exchange easier,
with actual business in bankers bills
Mt "a S56I4 s5h for demand and ut
81 s3IsN14 SS% for sixty days. Posted
rates 81 8494 IS and 81 1904 S61s. Com
merclal bills "a S21s. Silver certificates
59A 959&c. Bar silver 6OMc. Mexican
dollars 46Ikc
There were several quite important
elements Of positive strength In the
stock market to-day but the prepon-
deratInE influence OF several features
and the very heavy profit taking by
large holders Of leading stocks nulllfied
them. The last prices were In nearly
all cases below those Of last night Tho
London market followed yesterdays
New York weakness, and affected the
opening here. causing declines In some
OF the internatlonals. The granRers
made a strong opening In spite of SELL
ing on account Of the high level OF
earnings disclosed by ST. Paul's state
nent for the third week In August. In
creased movement OF grain IN the
northwest, which came for the last few
DAYS is probably reflected in these
earnings, which were SS3,35S In excess
of last gear and over $4,000 in excess
OF the high level for the corresponding
period Of 1892 The grain movement
though augmented, is not yet up to
last years level. and the large railroad
earnings are due to general traffic rest
ing for the more liberal outlay of last
years profits by the people OF the west,
The sharp advance in the EranHers at
the opening. due to buying by commits
sion houses and bidding up of prices by
traders. resulted only in bringing very
heavy offers to realize. There was u
change %. speculative interest from ST.
Paul and the gr6hg?ila some OF the
lower priced stocks With d7T1G'eRA. Qros-
poets Northern Pacific was most con-
spicuous In this class and was absorbed
In enormous blocks, closing at the top
at an advance OF l3s per cent. Union
Pacific sympathized In n less degree,
but the preferred stocks In neither
case were largely taken. Rumors OF an
agreement to arbltrate the war with
the Canadian Pacific helped to lmpart
strength to the continental roads. There
was very large demand for Peoples Gas
stocks, but these were not sufficient to
Offset the persistent protlt-taking. Man
haitian was weak and closed two points
below last night The New York banks
continue to lose money to the sub
treasury on account OF bond subscrip-
lions and there Is still difficulty In OBJ
tanning the newbonds to serve as Sc
curity to the government for the depos-
Its OF public fund. There Is a decided
tendency also towards a falling of In
government disbursements for war ex-
penses. md the interior demands for
money are increasing this week. A fall
Of quarter of cent in the actual
price Of sterling exchange Is suggestive
OF the source from which prompt re-
lief would come for any strlngency In
money. A curious result of the finan-
clal strength OF the country Is the
strength OF Spanish As to-day. It Is
current talk in Wall street that AmerI-
can funds are going into these bonds in
the belief that the Spanish government
Will find means TO secure interest on
them by pledglng some OF the mineral
wealth Of Spain.
There was marked strength In some
OF speculative bonds to-day. but prices
reacted to some extent In sympathy
with the later weakness In stocks. To.
tal sales. $i,2l0OOO.
United States 2s advanced and the
Ss when issued declined * per cent in
the bid price.