The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-09-16
rIsgycs AKD Trade


Ths Fs.tEreI 81 fne ilanrT and ster''
.srrksti
NEW YORK. Sept. l5.-MoRey on call
strong At . al psr cent, last ioan per
cent Prime mercantile paper 4f5 per
cent steellns exchange weak. with &C
tual business IN bankers bills at 81 go
4 SIX FOR der,and and at 81 SCI So
for sixty days. Posted rates s. $50
4 ssik and 81 S5G4 s5is. Commercial
bills 81 sIdi SIA. Silver certificates
sOK 0sic. Bar silver 60Ee. Mexican
dollars SIC.
Very large amounts OF money found
their way INTO stocks and bonds to-day
and the apathy and depression which
have hung over the stock market dur
ing practically all OF this morning were
completely dissipated. Even Sugar,
which at the opening showed somR con-
tnued apprehension on the part OF
holders reuarding the formidable COM
petition impending In the trade, yielded
10 the prevailing Influence and more
than recovered It's early losses on very
large transactions. Manhattan, another
standing resource Of the bears, resisted
attack and rose with the general mar
ket. When these Isolated cases OF weak
ness were eliminated from the market,
the whole list mounted vigorously up
wards and 1t was evident that q bull
movement was In full force again. The
late uneasiness over the future Of the
money market had completely dlsap-
peared. Ruling rates were not lower,
but entire confidence was felt that they
would not go higher. The calculations
of treasury officials that the payments
of the balance Of subscriptions on ac-
count OF the new bond issue would
make no further demands upon the
money market and the additional de-
cline in exchange, both continental and
sterling, were the factors which served
to relieve apprehension. Mercantile pa
per was bought here for the account Of
western banks although the movement
OF currency from New York continues.
II was early demonstrated that the late
leaders OF the bull market were to give
place TO Others the graHgers ana other
hIgh-prIced dividend stocks meeting
free offerings after a moderate advance.
The most conspicuous movement was In
lower grade stocks with dividend pros
poets and the Pacifics were clearly the
leaders. They were advanced in Lon
don before the opening here and the
New York market took up the advance
where London left of. Northern Pacific
common led the group with an extreme
advance OF 3S per cent on enormous
transactions.
Baltimore & Ohio was active and
strong and the new securities Of the re-
organized company were dealt.in when
issued at advancing prices during the
day. There was also very conspicuous
movement In a group OF industrlals, in
Guiding Tobacco, Rubber Peoples Gas,
Minnesota Iron. American Steel and
Wire and to a lesser degree some 9TH
ers. These stocks showed advances at
one time of from to over 8 points.
There were no reactions OF any Import
ance during the dag and the closing was
firm and generally nenr the top.
The increased confidence in the mo-
ney market outlook were very obviously
reflected In the bond market. where
there was large absorption OF mortgages
OF all grades at advancing prices. Total
sales $3.6lO,00O.
United States IS when issued, advance
ed II per cent In the bid price to-day
and were very largely dealt in at l05B
to 1859, onS block OF S250,000 being ia
ken at that price.