The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-08-04
rISANcs AND 1RADk
Ths Featurss Of ths Money aud Stool
$1,000.

The Fehiurss Of the Money and stosk
Markets.
NEW YORK. August Mooney on
call steady at 1K@1,s per cent; last loan
IL per cent. Prime mercantile paper
sA94A per cent. Sterling exchange
frm with actual business in bankers
bills at 81 s54G4 s5ss for demand and
at "a ssM@4 S34 for 60 days. Posted
rates 81 $780, So and - 1904 ssh.
Commercial bills 81 SEX. Silver certifl-
Gates 5S1s@5s1s. Bar silver s9c, Mex
lean dollars 451kc.
There was no great outourst OF spec
ulatlye enthusiasm in the stock market
tu-doy as a result of the peace news,
The market broadened out materially
and was conhdentIally strong all day,
but inquirlng observers feel consider
able doubt whether the peace prospects
had much to do with the rise. OF much
more eject is the generally growing
conviction that the dullness of the
money market is not all due to slug
gish trade conditions, but rather to the
abundant supplies Of money at Interior
points to meet the requirements Of exc
pandIng business and the movement
thus far of the crops. Yesterdays gold
Imports resulted in stlfiening foreign
exchange and in appreciahly easier
money rates for time loans. Exchange
exports are not able to figure any profit
on the gold import operation at the pres
ent level of exchange and these opera
lions must be accepted as antlcipative
Of future conditions. II the importers
anticipated higher money rates abroad
they probably would leave their funds
there without drawing the exchange.
It seems doubtful, also, whether the
present low rates OF money here would
themselves invite such an operation.
Prospects of an enlarged demand
through awakened business activity
must be looked to to explain the export
gold movement. The general tenor OF
talk heard in Wall street is also OF ex-
pected increase In trade and industrial
expansion. The growth of the west
bound freight movement and favorable
reports from experts in the different
trades are accepted against the shrink
age in the grain movement and result
ing decrease in earnings on some OF the
western railroads. Statements OF earn
ings for the fiscal year are being
brought out simultaneously with those
for the month Of July and the heavy
outlay for betterments and improve
ments shown by these exhibits, indi-
eating possible economies In the future
serve to neutrallze the decrease in cur
rent earnings. The general view in the
street is Enthusiastically bullIsh. The gem
eral strength OF the market was taken
advantage OF to realize profits in some
Of the recently manipulated Industrial
specialtIes, but there was a broad and
comprehensive demand for the standard
stocks. the graRgen5 and the iaVorite
dividend payers leading. Dealings IN
bonds were also active and widely dis
trIbuted. A feature OF the day was the
rise 10 par Of the Northern Pacific u.s.
This is one OF large class Of similar
bonds issued recently for reorganization
which have been favorItes in me bond
market The Northern Pacific mort
gage is the first OF them to rise to par.
There was very large absorption OF
other railroad bonds which have been
gaining added security from the largely
Increased earnings by railroads In the
last fiscal year. Total sales $5,91o'OOO,
U. s. As, the IS and the old IS regis
tered advanced 4 and the IS when Is
sued Y in the bid price.
The total sales OF stocks to-day were
392, 700 shares.
BONDS AND STOCK QUOTATIONS.,