The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-05-24
FINANCE AND TRADE
This Features OF the Money and Stock
~ Mnrketa. NrAtsIn

NEW YORK, May 23.-Money on cali
ut 1@1A per cent; last loan M per cent.
Prime mercantile paper HMG5h per
cent. Sterling exchange firm, with &C
tual business in bankers bills at
81 s6h94 s6% for demand and at
81 ss&I4 IS for sixty days. Posted
rates 81 sih and 81, S7h.i Commercial
bills 81 S9hG4 SO. Silver certificates
57N15SAc. Bar silver 5Ihc. Mexican
dollars 45Ac.
The level Of prices OF stocks was
lifted another notch as q result OF to-
days trading. The dealings were not
large and there was no general activ-
ity in the market. That is to say the
volume OF dealings in the speculative
favorites was not very large and a
number OF important stocks were mac
tive. At the same time Il was notice.
able that a number, of usually inactive
shares were moved and this gave the
market the appearance OF a broadening
tendency which q closer analysis did
not, altogether confirm. There was q
large number OF. Individual transactions
OF the small dividend-paying stocks, in
dicating a demand for investment
sources. Buying of this character Is
usually designed for permanent or long
time holding and always accompanies
a plentiful supply, of money. There was
no evidence. however, OF any wide
spread general interest In stocks and
the speculative public evidently prefers
to wait for a definite outcome Of the
naval manoeuvres In West Indian wa
tiers. There was q good market for
Americans in London and prices were
well sustained on q belief that Spain
would shortly sue for peace. There was
a coincident rise OF a. point or over in
Spanish fours in London and Paris. A
rumor that this was due to a pending
Franco-Spanish alliance did not hurt
Americans in London. London was also
q buyer of st. Paul here and altogether
was quite a factor In the strength OF
the New York market.
Northwest responded to its excellent
statement OF April earnings with a rise
OF 2 points and radiated strength
through both the Vanderbilt and the
Granger groups with each OF which was
coordinate. Early in the day there
was a further advance of oyer 2 points
In Pullman. Other conspicuous gains
were New York Air Brake 5A; New
Haven ~; Minnesota Iron 4; Metropol-
itan Street Railway 2H and Leather
preferred and Rubber preferred about
2 points each. There were others rea-
LIKING In the late dealings. caused a
break of nearly4 points, In Pullman, OF
2k In Consolidated Gas and 2 points In
New York Air Brake. The result was
an unsettled closing considerably below
the best In some casec and with net
gains as a rule only small. The rates
for money continued to droop and the
desire for some evidence Of that active
demand as indicating business activity
began to extend outside the circle OF
the money lenders. The accumulation
and Withholding OF exchange resulted
in q further advance Of Nc In the rate
for demand sterling and OF Nc for sixty
day bills. Discount rates declined in
London, Berlin and Paris In conse-
quence of the relief OF those centres
from the pressure OF exchange for New
York.
Railroad bonds we're narrow and In
active, but prices were we'll held. Total
sales. S1.35o.0O0
United States new Is declined u per
cent in the bid price. Others were un-
changed.
The total sales OF. stocks to-day were
279.200 shares. ~
Evening Posts London financial ca
bleg-am:
African difficulties strengthened all
the stock markets here to-day. There
was no public dealing. however. and
the business to-day was principally
bear covering.
Americans were strong.
II pnNnc AMI crnNLy fnryNr nYNN.c