The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-12-23
FINANCE AND TRADE.
The Features Of the Money and Stock
Markets.

Markets.
NEW YORK, Dec. 22.-Money on call
steady at lGS per cent; last loan 4 per
cent; ruling rate 6 per cent. Prime
mercantile paper 5ss9s per cent. sterI-
ing exchange hrmer. with actual bust
ness in bankers bills at "a s7A for de-
mand and at 81 sON@4 SOS for sixty
days; posted rates 81 s1h94 81, and
81 Ssa4 ssh. Commercial bills 81 500
4 sO1s. Silver certificates 5Sh @6s3ic.
Bar silver 5Slsc. Mexican dollars 47hc.
Government bonds strong.
State and railroad bonds weak.
The stock market had to undergo
further liquidation to-day. Prices
yielded without any very active resist.
ance, but there were no signs Of panic
and the liquidation was conducted in
an orderly manner. The principal
causes Of weakness were evidently not
local and seemed to be largely due to
the condition Of affairs In Boston. The
closing of the Globe National bank
there was the cause Of widespread un-
easlness and brought large offerings on
the New York market for the faVorite
Boston stocks. Sugar was the most con-
spicuous example, as is shown by It's
extreme decline Of seven points. This
stock was under very heavy pressure
all day on runors OF q continuation OF
the trade war. as well as on the forced
selling for BOSTON account. Burlington.
Federal Steel and Atchlson preferred
were also sold from Boston. London
was a large seller OF stocks In this
market and the depression there exer-
Cised q large sentimental influence.
The rise in the private discount rate
and the fears Of trouble at the settle
ment now imminent ara causes of app
prehenslon. Some OF the favorite In
ternational stocks were acutely de-
pressed from time 10 time. notably
New York Central. st. Paul, Baltimore
& Ohio preferred, Missouri Pacific,
Reading first preferred and Denver &
Rio Grande preferred.
The bears were energetic operators all
day and supplemented their efforts by
the circulation OF some extravagant
rumors regarding the financial condi-
tIon of various houses and properties.
The effect on some of the trust COM
panies was to induce large calling Of
loans as measure Of pTecautIon
against any extraordinary demands
that might be made upon them. The
rumor mongerIng OF the bears was so
fragrant In some cases US to cause the
discussion by some Of those who were
the greatest sufferers Of legal measures
directed against the offenders. During
the last hour the bears were very large
buyers to cover short contracts and the
effect on prices was seen in recovertes
running all the way from / to 5 points
in the principal railroads and indus
trials AS a result net losses were re-
duced within n range Of three points,
except in q few inconspicuous stocks,
which had not moved previously dur
ing the week. A number Of stocks, in
Guiding those which have suffered most
severely during the week. rose slightly
above last nights level. The rate
for money tiurrled at one time
to per cent but ruled for the most
part at per cent or below Estimates
of to-morrow's bank statement are all
at sea, owing to the extraordinary con-
dltiOns that have prevailed. The banks
have gained on the regular interior
movement. but the extraordinary de-
mand from Boston has offset that, so
that the net loss on the interior move
ment Is about 81 100000. On sub-treas-
ury operations they have gained about
81 600 The amount Of gold exports
which will figure in the statement. in
Guiding last Saturdays shipments, is
about 100000 This would indicate a
net Iuss in cash on all accounts Of about
q 900. 900. No one ventures an estimate
Of what the loan changes may be.
Bonds were weak IN sympathy with
stocSs, the speculative Issues showing
some sharp declines. Total sales par
value. So, $780, 600.
United States new IS advanced Y. the
old IL and IS \ per cent In the bid
price.