The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-29
FINANCE AND TRADE.
The Features oftho Money aud Stock
Markets.


The Features ofthc Money aud Stock
Markets.
NEW YORK, Sept. 2S.-Money on call
easler at SG3& per cent; last loan, 3.
Prime mercantile paper, 5Is96 per
cent.
Sterling exchange heavy, with actual
business in bankers bills at 81 SiR@
1854 for demand. and at 81 Ska Sl&
for sixty days; posted rates, 81 S2hp
4 SO and 81 SGg4 $50, commercial bills.
81 S0iE. Silver certificates. b9ls96Oc. Bar
silver, 5SIs. Mexican dollars. 4f4c.
Government bonds weak.
State bonds inactive.
Railroad bonds Irregular.
The market for securities for to-day
was u small and tame affair by con-
trast with the vOlen. fluctuations OF
the earlier period Of the money string
ency The rate for call money vibrated
between IL and Il per cent. during the
period OF active demand, but after that
was satisfied fell by quick stages to 3
per cent. The needs Of borrowers over
the three ensuing holidays was salts
fled In large part yesterday. In antlCl.
patton OF pressure for accommodation
to-day, and consequently to-day's high
or rate did not reach within per cent.
OF yesterdays. The bank statement
was unfavOrable beyond all expected
anticipation. Although the outgo to the
sub treasury was reduced to Sl.196OO0.
four days OF business. the losses OF cash
to the interior brought the total re-
ductlon In the reserve up to S4.5i5,S00.
In spite Of n net reduction In loans Of
81 752, 700. the meagre surplus reserve
was still further reduced $l.239,250. II
f., No. To- tW,
few days on the stock exchange do not
figure largely In this showing. and the
accommodations were probably secured
from dealers In money who had sup-
piled themselves with time loans some
time ago and who put their supplies out
again at the profitable ruling rates In
place of the loans called by the banks
TO meet the demand for the october
settlement. The showing Of the bank
statement and the continued tightness
OF money were Offset by the additional
engagements OF gold Tor Import and
the drop In the rates for sterling eX-
change 10 very near the regular Import
point The sentiment on the stock exc
change was that further relief to the
money market from this source Is now
available, and that q regular movement
OF gold Is now fairly inaugurlted. No
pressure OF liquidation was manifest,
and present holders OF stock evidently
feel themselves strong enough to nwnit
more favorable turn Of AFFAIRS. The
confidence In further gold imports was
emphasized by the failure OF the Bank
Of England to advance Its onlclnl dis
count rate, Notwithstanding the fact
that the principal demand for money
In London is now thrown upon the Cen
trail Institution by reason OF the higher
- A
sterling exchange at Berlin in response
to the Rrmer discounts there suggested
additional pressure on London for gold
from that source also. With gold NOV
INK to New York some measure OF pro-
lection by the bank at an early day
may be accepted az certainty. The
interior money markets In this coun-
try gave no evidence OF relaxation OF
the pressure upon New York for fnnhS,
New York exchange at Interior points
tending rather downwards. SOME re-
lief Is anticipated next week from div
idend and Interest disbursements ana
from the money to be left IN the city
by visitors to the Dewey celebration.
Excent Tor a recovery OF 3iA In Tonnes
see Coal. gains Of III and In the St
Louis Southwestern stock and wide
movements In few usually Inactive
stocks, to.day's market was without
notable Incident The total dealings
fell to the level Of the midsummer
period Of dullneHs.
Dealings in bonds were on II small
scale and price changes were mixed.
Total sales. par value, Sl,325,OOO.
United states now ~ declined X In
the bid price.
The elimination Of two days from the
business week and the prospect OF dull
ness next week consequent upon the
yacht races, accumulated the speeuln'
tive stagnntlOn which always follows