The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-03-20
FINANCE AND TRADE.
Tho Features Of the Money and Stock
Markets.

:
Markets.
NEW YORK, March ls.-The change
In stock prices as compared with yes
terday was very narrow. In the earty
trading prices drifted downward, nota.
bly, Continental Tobacco. international
Paper. American Steel G. Wire. Brook.
lyn Transit. Burlington. Texas Pacific
and Metropolitan Street Railway. The
movement seemed to be In the nature OF
discounting an unfavorable bank state
ment. for when 1t was published, show
Ing decrease of over $1,000. 600 in the
| surplus reserve. but q contration or
some three and half millions in loans
q covering OF short contracts set in
Metropolitan. Brooklyn Transit and
most Of the other stocks which had
shown earlier recessions were lifted
smartly.
Interests was very largely centered ir
Sugar again to-day and the stock closed
within fraction Of the high point
172k. yesterdays stock closing being
1641t. Tennessee Coal G. Iron also show.
ed improvement on the day. There was
declines of from fractions to 3 per cent
in Tobacco and some Of the new In.
dustrials. including Continental Tobac.
W. 1Hlcl ihtlOIul dpGLs ltLlel 1 u
Plate and American Steel &; Wire. The
railways left OF practically on a parity
with yesterdays closing. The market
closed strong and active.
The stock market was OF very pro-
fessional character throughout the
week with standard shares generally
reccdlng. as did number OF the unsea.
soned industrials. but Sugar was mark
ed up over 30 points, with some inhu-
ence on certain stocks. The money
market was the all important influence
call money averaging per cent, III
though at one time 1t touched G. There
was q reflex easing In sterling exchange
and q hardening OF money rates In all
foreign markets. The banks were In
receipt OF urgent requests for currency.
especially notes, from western banks.
but the scarcity OF currency here was
reflected In the payment early this
month OF over 81 per cent Of the GUS
toms duties in gold. The payment of
s6,000.000 to the government In part set
tiement OF the Central Pacific oblisn-
ton, together with the purchase OF Chi
cago & Alton stock, for which large
sum was transferred to the former
owners. were partly responsible for the
hardening In the money market.
An unfavorable bank statement had
been expected. and when It appeared
there was some covering. The decrease
In surplus revenue Of over $4,000, 600 was
thought to be largely due to those spec
ial transactions. The uncertainty at
this season regarding winter wheat, to-
gether with predictions that February
net traffic returns would not be up to
expectations had a REFRESHING influence
in the railways. On the other hand
earnings for the first week in March
showed an increase of about per cent
The decrease Of some eight and quar-
ter million dollars In value OF the excess
OF the February exports compared with
last year was q subject OF conmentln
relation to our foreign trade situation,
but the Items showing increases in the
exports OF manufactured articles was a
source Of qualification. The signing OF
the peace treaty by the queen regent OF
Spain being expected caused no re-
Spouse in the market. The industrials
and specialties were more prominent In
the dealings than ut any time hitherto
All the advances of note were made in
securities Of this class with Sugar the
leader. This stock after remaining
comparatively steady. suddenly spranS
A.iAp siSlLN.tS vi 4HulsihS DlI lIdhstt-
tons OF over quarter OF a. million
shares, rose 29A points above the price
OF the previous day. reaching 10 and
then reacted TO ISL and on Saturday
again 1t rushed up TO 172h.
Various rumors attended the remark
able movement in Sugar. All the indie
pendent refneries and the Glucose COM
pany were mentioned as about 10 form
trade agreements with the Sugar conf
pany or be absorbed by 1t. All these
stories met prompt denial from the var
ious concerns mentioned or interests
which should be posted. except in the
case OF the president OF the Sugar re-
filming company. and he made no state
ment. Among the other notable ad-
vances were Ne WORK Air Brake 1919
per cent; Tobacco 1875: Brooklyn Tran
sit rs: Glucose ~: while Chicago Ter
minal. Great Northern preferred. Peo-
Pies Gas. Tennessee Coal 6 Iron aud
Metropolitan Street Railway were up
about points each The largest de-
clines were consolidated Gas 6: Cont.
mental Tobacco So: do preferred G:
American Steel AS: International Paper
Ak; Third Avenue I and Kansas City,
Pittsburgh & Gulf 81 per cent.
Business in bonds decreased during
the week. with the market showing 4
yielding tendency.
United States IS old. Is registered and
the new As coupon advanced x per cent,
and do registered. the IS and old Is cou-
pom 4 per cent In the bid price.
BONDS AND STOCK QUOTATIONS.