The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-10-21
4IEAECE AND TRADE
Tia FsAlurss Of Las Money and Stock
Marksaa.

Ths Features Of ths Money aud Stock
Markets.
NEW YORK. oct. 2O.-Money on call
easier at 1h@2 pes cent; last loan Ia
per cent. Prime mercantile paper shGl
per cent. Sterling excnange firm. with
actual business in bankers bills at
81 S4lsG4 S4& for demand aud at
IS sIAG4 81 for sixty days. Posted rates
81 s2M9l IS. Commercial bills 81 sOh@
4sl. Silver certificates 6OGslc. lar
silver 6Oc. Mexican dollars 451sc.
Government bonds weak.
State bonds inactive.
Railroad bends steady.
Considering the apathy and tndiher-
ence which have recently been mani
tested on the stock exchange the re-
slstanee made to-day to the pressing
influences existing on all foreign sec1r-
itY markets was rather remarkable.
Even al the opening prices refused 20
Yield to a parity Of those established In
London for Americans, but our opening
and the rather heavy volume OF oher-
inRs for London account was easily aD-
sorbed at q level sufficiently higher TO
make a very nice profit for the arbi-
TRACE brokers, After the London SELL
ing had ceased in the forenoon the mar
ket took on a hardening tendency ana
broadened out to very perceptlble eX-
tent, Prices of the grangers and other
railroad stocks, including some In the
list of those dealt in on foreign eX-
changes, rose above yesterdays level or
at tht, least, retrieved the earlier losses
Many recently inactive stocks were
brought into the movement and there
was a resumption OF the buying IN
small lots of some OF the well-securea
dividend paying stocks. The explana-
tlon OF this lies in the fact that Eu-,
ropes poison Is TO a certain extent our
meat. The striking evidence OF TINS
was disclosed In the grain and provision
markets which were all excited ana
higher on the eager competition for ouT
products reflected from all European
markets as a result of the fears OF COM
ing hostillties between Great Britain
and France. With wheat crop OF I'M
precedented dimensions to move this de-
Velopment was bound to have an IN
fluence on the grain carrying roads. In
former times the threat of war In Eu-
rope has brought with 1t the dread that
the large foreign holdings OF American
securities would be forced to liquidation
on the New York market. The indirer-
emit mod in which this possibility was
viewed to-day is a striking proof OF the
large reduction which has been worked
in the foreign holdings OF our securities
as payment for last years large trade
balance In our favor. What trade bull
ance and the continued movement In
our favor are also the ground OF the In
difference of the money market abroad.
European government securities de-
cllned a sharp fraction and money rates
advanced in sympathy at oil European
centres. Yet the only effect In the New
York market was to harden the rates OF
foreign exchange n fraction. AS for the
local money market not a ripple was
caused and rates for call money actu-
ally declined to 15A per cent, against
the recent minimum of per cent, with
a range up to 2h per cent. The strength
OF this country's financial position could
not ne more strIlSingly illustrated. SUI
gar found support at moderate de-
cline and Tobacco was firm all day.
The market for bonds was not active,
but prices were well held. Total sales,
$l,765.OOO.
United States Is declined q, the IS
coupon Y, and the old As registered, the
new IS coupon and the IS registered y
per cent in the bid price.
The total sales Of stocks to-day were
$500 shares.