The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-07-28
r1sAEcE AND TRADE
The FEATURES o. the Money aud stotl
mnrNrfa


Market.
NEW YORK. July 27.-Mcney on call
steady at lss@ls4 per cent; last loan ~
per cent. Prime mercantile paper slsG
4 per cent. Sterling exchange flrmer,
with actual business In bankers bills at
IS 1891 s41s for demand and at 81 ss&8
4 "a for 60 days Posted rates 81 $40
4 IS and "a ssG4 sess. Commercial bills
81 S2ts. SILVER certificates 5s7. 95olEc.
Bar silver 5sAc. Mexican dollars 451Ac.
Nearly all the strength and activity in
the days stock market were combined TO
the hrEt hour AT the opening there was
a rush 10 buy as result OF orders
placed with commission houses this
morning on the announcement that
Spain had addressed the United States
government with request fur peace.
This early demand was fed quite freely
by realizing gales which held prices back
10 within a small fraction above last
night, and even dragged them below last
nights level on active profit taking. But
these offers to realize wer quite conf
IDENTIFY and aggressIvely absorbed and
the demand was sim unsatLsfled. The
market was apparently embarked on a
sustained upward movement when
Sugar began to pause after an advance
Of nearly 2 points which resulted in dis
lodging heavy covering orders. Very
large blocks Of the stock, many Of them
OF 1000 shares and upwards were taken
ON the advance. But after touching l41
support seemed to be Withdrawn and q
steady stream was poured upon the
market for the rest Of the day. Several
times the price steadled and rallied only
to make q. renewed downward plunge,
each successive decline dislodging heavy
stop loss orders. The price dropped over
4 points from the top and rallied only
feebly at the close. The slump was ac-
conpanied by rumors of unloading for
inside interests with view TO retire.
ment, The decentralization in Sugar uif-
settled the whole list and put stop to
the upward movement for the rest Of the
day, The decline in the general market
was desutory and was not accompanied
by heavy offerings. 1t was very obvi-
Gus. however, that professional traders
realized to a large extent at the open
ing ON the peace news and they probably
viewed with complacency the suisse
uuent reaction. Offering opportunity 10
buy back stocks at a lower level. De-
clnes from the best reached point or
over in most Of the prominent stocks
and no losses in some cases are as much
as point, The announcement during
the day OF the engagement Of a small
amount Of gold in London for import
mad no effect. The transaction was re-
garded as OF a special character. ex-
change not yet being considered at the
gold import point. Sterling exchange in
fact rallied Il per cent in the actual rate
to-day. Conditions in the money market
remained unchanged.
Railroad bonds continue to be an.
sorbed on a large scale, recent issues OF
per cent for reorganization purposes
being the favorltes Total sales $5'l00'-
There was continued large demand for
new government IS to-day when issued
very large individual blocks being taken
above lOl. United States new A. cup n
advanced / per cent; do registered ana
the old IS coupon x, the 5s coupon 4
and the IS when issued rs per cent IN the
bid price. ro
344, 900 shares.