The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-10-12
FINANCE AND TRADE
The FEATURE Of ths honsy ard storL
Markets.

Markets
NEW YORK. Oct. 1i.-Nouey on call
steady At M per cent; last loan 2h pei
cent. Prime mercantile paper Sat per
cent. Sterling exchange steady. with
actual business in bankers bills at
81 1904 SIX for demand and at 81 sihG
siH for sixty days. Posted rates
"a s2n and 81 IS. Commercial bills
81 500 Silver certificates 6ld62c. Bar
silver eOhc. Mexican dollars 1915.
Government bonds steady.
State bonds firm.
Railroad bonds easier.
The bears had hard work to make
living in to-daV's stock market, not
Withstanding great diligence and perse--
yerance. The majority Of the stnnuard
stocks offered very firm reslstSnce to
the efforts to effect reaction ana tte
number Of stocks In which any notable
price movement could be obtained was
very small The industrial speclulties
were the only stocks on the list tral
showed any disposition 10 move widely
and the movement OF these was with
full "mysterion" In the exchange lingo.
II was room traders market and the
motives which fmpelled these gentry to
sell and buy stocks would probably De
beyond the INITIATED 70 fathom.
For instance, II was ascertained oy
some occult reasoning or Information
that the recent borrowing demand foT
Sugar certificates was for account or
sellers OF long stock who wished to con-
ceal their operations and not at all as
would naturally be supposed OF the
bears who had sold short and had 20
borrow stock for delivery. A fall IN
the borrowing premium OF the certth-
Gates because the sellers had returned
the borrowings served to disclose this
willy proceedings to the short turn stock
gamblers. and they FASTENED to put out
short lines OF sugar with a resulting
fall In the price OF nearly two points
Later in the day these saplent specula-
tors bought back what theE had sold.
The reason adduced for selling the rub
Der stocks was report that recently
discovered substitute for rubber was
about 10 be exploited by new corpor-
alton. Tobacco ranged over nearly six
points, with no news to account for It.
The coalers, which are a perpetual tar
get for bear hammering were raided
down from to per cent on the gen.
eral depression In the anthracite In
dustry and other specialties were sub
jects OF Individual treatment. These
manoeuvres OF the professional bears
had astonlshingly little influence on
railroad stocks. The demand for these
securities was Of what might be called
lnfinitessimal proportions and there
was no disposition to sell. The state
ment of st. Paul showing an increase in
earnings for the first week In October
Of over $4,000 as compared with the
corresponding week last year, was a
sustaining factor all through the list.
There was a subsldence also OF appre-
henslon over Anglo-French relations.
French rentes rose sharply There was
an easing OF the money market in Ber-
lin, though the pressure from that
source upon the London money mar
ket caused a hardening in the discount
rate there and a further fall in consols.
A fall OF 1854 In the price Of Kansas G.
Texas preferred in face OF good traffic
returns for the first week in October,
was unexplained. as was the advance OF
over a point In the price OF Kansas
Cit, Pittsburgh & Gulf on an active de-
mand.
The bond market was dull and easier
with the exception Of few Of the gilt
edged securities. Total sales, Sl,67O,OOO.
Government bonds were unchanged In
the bid price. There were sales OF the
IS coupon at 1855.
The total sales of stocks to-day were
293300 shares.
pONDs Avn sTOcLc QUOTATIONS