The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-05-03
FINANCE N TRADE
This Features of h Money and stoc,
Markets.

NEW YORK, May money on call
steady at 243 per cent; last loan . per
cent. Prime mercantile paper GOT per
cent. Sterling exchange steady with
actual business in bankers bills at
81 S3A@+ 81 for demand and at 81 soy
"a 81 for 60 days Posted rates 81 Sl1s
"a 50 and 81 S594 S5h. Commercial
bills 81 so. Silver certificates 56k0
57kc. Bar silver $3.50. Mexican dol
las 45Ac.
Wall street saw a day OF speculative
activity and furore which has not been
equalled before. There were many vary
ing phases In the events OF the day.
The upward surgeon prices at the open
Ing was met BY enormous offerings to
realize, which caused a loss Of from
a third to a half Of the opening gain.
The upward movement was then re-
newed and there were occasional periods
Of hesltancy afterward, but no serious
reaction. The market closed in an
other burst or animation, ord very
buoyant in tone with prices. except for
a few stocks at the top level, When
the market opened the influential bull
operators who bought stocks last week
in anticipation Of, a United States vic
tory in the Philippines, stood ready to
take their profits. Evidently the opera
lions OF this coterIe had been largest
in Sugar, st. Paul and Burlington.
They were aware that the newsof Com
modore Dewey's victory had brought
large orders to commission houses to
buy stocks, and they met this outside
demand BY bidding prices up at the
opening as far as lay in their power.
THAI, cnnraaadoI In afSanttpr n {,,rpr 1f
6h points In Sugar and OF about II
points IN Burlington and 81. Paul.
Their heavy selling to realize IN these
stocks caused a reaction all through
the market. The meagre accounts
the naval battle in Manila lef. 1t 4
question whether the United States
forces would be able to effect the es-
Establishment OF a base for further oper-
atoms or whether they would be oblig-
ed to make for home. The London ex-
change vas closed for a holiday. and
Paris was looked TO for a reflection
view OF the engagement. There was
firmncss in Spanish As at that centre.
the price having gained 5-16 per cent
net by the time trading ceased. These
elements of doubt helped the reaction
in the first hour. But as additional
scraps OF information began 10 come
at hand, especially that through British
official sources. there grew up a better
appreciation Of the scope of the advan-
tages gained, and of It's probable effect
in bringing about an early termination
Of the war. Thevolume OF outside orders
from all over the country showed a
large Increase as the day progressed,
and the demand was 80 active and on
fident TINT the effect OF the early re-
action was entirely overcome. The
Grangers and the ~Internatlonals show
ed remarknbel strength as groups, and
the majority OF the stocks, til e desig-
mated. showed net gains OF over three
points on the day. Even more striking
gains were shown in some special cases.
CONSOLIDATED Gas rose s points, Pull
man 9h points, ~eX-divldend and Lack
awannn II points over Saturdays bid
price. Metropolitan Street Railway and
P. C. c. G. st. L.. preferred gained q
points each and Oregon Navigation pre-
ferred AZ points. Gains otherwise are
mostly within n radius OF 1 to 3 points.
The scramble, to buy at the opening
was sor:,cthinE terrific, and simultane-
~ prices varied from . to 3 points In
souEdls butllilR on, SL RAUL anu MAN,
haitian. Speculative activity was at
boiling point, except for a few intervals
OF comparative dullness. In the ont
side market there was equal strength
and activity. Standard OIL iiquidatlng
certificates were the feature at an ad-
vance OF is points.
The bond market leaped into activity
along with stocks, and showed notable
Oh t.aK, rltt e. fhA "a ~pna,tIpk t,.n -I,r,,nr r Iaa.1
ing with gains OF about . per cent. Sin
gle blocks OF $4,000 OF the Northern
! Pacific and Atchison As changed hands.
Total sales 49, $4,000.
United States As coupon ex-dlvidend
advanced TO 11gik; do registered / per
cent. the old AS registered and the IS
coupon (the coupon ex-dividend)f Y per
CEN In the bid price. United States
old As on sales advanced ~ per cent,
and the Us coupon, ex-intcrest. per
cent.
The total salcs OF stocks I to-day were
6li 900 shares.
Evening Posts London lnacial ca
blcgram:
The only new points to note in tho
money market here are the growing be-
lief that the war may collapse soon and
the revival OF the New York demand
for gold. New York bought 200, 900
pounds OF this weeks arrival from the
Cane, and the price has risen to IT'S
9Ad. The immediate future OF the
mony market hinges on the New York
demands for gold and the effect OF the
Chinese Indemnity payment on Satur-
day next.
BONDS AND STOCK QUOTATIONS..
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