Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-06-14
FINANCE and TRADE.
mo Posts London financial

lining Posts London financial
cablegram; .,o,s hero were ouiet
I ~. This was anticipated, and II
u 'SiG probably be quiet week. nc
VIVA was fairly STEADY.
l01 ,,oericans opened dull on New YORK
as rallied ON general buying mere,
l.,' .,hseouently. gave way and closed
puy IN the lack of New York sup
u',, notably in southern lines.
v.u, York. June 1S.-Money on call
LAW at 114@11a per cent; last loan
1l2 per cent .,,o ,onor s0o4 ner cent
ling exchange weak, with actual
,'jness in bankers bills at $4.SoA@
~ a5[t for demand, and at $4.S3A "a
"a for sixty days. o,,
04SL ,,uu :, 0o,L
silver certificates 57k@5S1ac.
Rar silver 57%c.
Wexican dollars 452c.
now IS registered. ...... .12lA0122ls
new Is coupons. ...........l 22t2
I. = coi7nons. ................ .109ika1l112
= 2ds............... ,9oat 0,1111h
- registered. III
= Is coupons. ..........-....'!dV Iva LIZ
5-cife Is of 9o.................-..4V
government bonds strong.
state bonds dull.
poilroad bonds weak.
Stocks-The slump in the stock mar
So today was surprise to most
rnocnlative observers who looked for
W ADVANCE in prices, after the appar-
WI abandonment of last week per-
ris+ent attempt to secure reactlon-
Tbo underlying cause of to-days Vlo-
io,t decline was not very clear ana
Inv suggested solutions of the puzzle,
III more or less ingenious, found cur
~oncv Specifically there was EVIL
dent some sympathy with the drop
ming of the bottom out OF the wheat
rnarket and there were very heaVy
roIas of securities on the New YORK
evcbange on Geographic orders from
Cbipqgo. A decline in the price OIL
wheat does not necessarily imply harm
10 railroad property, as was seen III
,ha notable advance in the grangers
last Friday on favorable govern
ment report. but so violent a decline
IN wheat as that of to-day arouses
como nuestion whether the farmers
will find a profit in the sale or the
,.C,rs crop. and the railroad compa-
o;os are of course dependent for thelr
nrosperity on the prosperity Oh Tue
noDnlation they serve. furtnel hhol g
such shrinkage in values as that III
orain to-day involves a large nqulua-
fion Of collaterals, and it was THIS tiat
causad the chief damage to prices o.
locks Weakness permeated pretty
,oh tho whole list, but was especial
" marked in the grangers' feople .
Gas and some of the high priced spe-
ciaities This acute selling pressure
frcm Chicago gave rise to some pei
s,stent reports of a pending large lall-
,,ro i'm Chicago in the grain trade. but
me- was also an ingenious sugges-
ZION IN the effect that a large specuia-
tro continuation in Chicago was mani
inulatinig the market with a view to
roing long of wheat while going snort
nj stocks On the prospects OF the gram
trade, But there was also an III
eenious suggestion to the erect mat
large speculative combination IN chi
cago was manipulating the market
Win a view to getting low wheat Whlle
going long of some stocks on the pros
meet Of the inevitable rumor OF crop
damage before harvest time. Damage
to the crop or even widely cfeui.eu le
norris Of damage would certainly re-
suit in a bulge in the wheat market
and in a sharp reaction in stocks.
Rates for time money were quotaDly
higher. Sterling Exchange declined
1oc 10 &c both for actual and posted
rates PrepSrations for the govern
ment bond issue were thus manifest IN
the money market and may possibly
have made an impression also on the
stock speculation. London bought
freely of stocks here at the morning
decline and thus helped to weaken the
exchange market The rally in the
last hour of the stock market was
plainly on covering by professional
traders.
To-day's activity in the bond market
was at the expense of values, as was
the case in stocks. Sales, S2,30o,o00.
[. s. new tours coupon advanced u,
and the registered tours, both old and
new, a in the bid price.
The total sales of stocks to-day were
627400 shares.
Quotations closed bid:
Atchison .. 1914
DO preferred .. 1914
Baltimore and Ohio ............. 1894
Canada pacifc - S5la
Canada Southern ............ 5la.
Central Pacific .......... 1915
Chesapeake and Ohio .............. 22s4
Chicago and Alton ........ ......l 10y
delaware and Hudson .....:.. l0912
delaware, Lackawanna and Western. l9i
49, W dA lie ......... -
illinois Central Gonna. .............. JOB
Lake Erie and Western. 19t2