The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-12-05
TIElRrE A. TRApE
Tho Features q the Money ana sissii
Markets.


Ths FEATURES Of tho Money hnd siash
Markets.
NEW YORK, Dec. s-There was no
marked change In she character Of the
market to-day from that which has
prevailed for several days past ACTIVE
lty was for the most part confined to
the speclaltles. and the extreme range
in the price of many leading railroad
stocks did not exceed Is to X per cent.
London was a seller OF Amerl-
cans again. though the rate for
money wns easier at that centre In
spite OF an additional withdrawal OF
over 81. 100000 In gold from the Bank OF
England, presumably for shipment TO
Germany. London's offerings OF
stocks here were fairly well absorbed,
but there was no increased demand.
The grangers were remarkably dull and
sluggish In spite OF the ST. Paul state
ment for the fourth week In November
showing level Of earnings, notwtth-
standing the bad weather prevailing,
never before exceeded except In 1882.
There was a slight pressure OF realizing
sales in Northern, Union and Central
guA AAAE Eal9G Va hAAN A&NeNA
there was subsequent rebound OF 1sS
per cent. Sugar dropped sharp frac-
ton at the opening on rumors OF tur-
Their reduction in the price Of the pro-
duct, but this specially afterwards
moved strongly upwards on covering OF
shorts. Pacific Mail was also a strong
feature and moved up TO 40& on the
good business outlook for the company.
Metropolitan Street Railway continued
It's upward course above all previous
high records, while Manhattan moved
in a contrary direction, the movement
being the result OF the traders intCrpre-
tatlon OF the revived talk OF a rapid
transit system. There was a resump-
tion Of the upward movement In Fed
eral Steel preferred and apparently
sympathetic advances in Tennessee
Coal and Colorado Fuel. The decrease
In surplus reserve shown by the bank
statement was due to increased re-
uuiremehts on account OF the deposit
increase. The increase in loans Is at
tributed IN large part TO the resumption
OF lending money abroad; a process
which involves borrowing on sterling
exchange collateral as an incident.
Perhaps the slight renctionary ten
dencV towards the close of the week is
fostered by fears that traffic returns
for the fourth week in November to be
published next week will show Unfavor-
able effect from the stormy weather.
The events Of the week in the lnterna-
tIonal exchange market have given new
and convincing evidence Of the strength
OF this country's financial position. The
decline in discount rates abroad early In
the week wiped out the margin of
profits between the interest rates
abroad and those prevailing here.
The heavy contracts for steel rails
indicates coming period of railroad im-
provement and extension and there are
numerous schemes for consolidation and
organization OF great industries con-
stantly being iloated in Wall street.
Among those for the week are corpora
lions in silver plating, thread, tin plate,
linseed oil, Photographic cameras, etc.,
requiring many millions for the pro-
cess Of fInanclCrlng.
In the bond market the course OF
prices has been continually upward on
a large and well distributed volume OF
business.
United States 90. the IS and the new
Is, and the 5s registered have advanced
Il, and the old IS and the IS coupon x
per cent in the bid price,
Total sales Of stocks today were 49,
700 shares.