The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-07-08
FINANCE AND TRADE.
Tho Features OF tho Money and Stock
1Larkets.

Tho Features ofthe Money and Stock
Markets!
NEW YORK, July 7.-Mcney on call
steady at 4ls0s,s per cent; last loan 4M
per cent. Prime mercantile paper Sk0t
per cent. Sterling exchange steady,
With actual business In bankers bills at
81 s7@4 SIN for demand and at q sf$@
4 IS for 60 days; posted rates a $50
4 sS1k and 81 ssh; commercial bills q S.
Silver certificates eoGs1c. Bar silver
so3sc. Mexican dollars l7Ac. Govern
ment bonds strong. State bonds mac
tive. Railroad bonds Irregular.
Sentiment on the stock exchange fav-
ored lower prices during the greater
part Of to.day's session. but the falling
changed in the late dealings and prices
were brought well above yesterdays
level before the close, The late strength
originated in the southwestern group Of
railroads. Texas & Pacific was the frst
OF these to advance, but the largest buy
ing as wen as the greatest gain in price
was in st. Louis Southwestern prefer
red which rose points on the publiCa-
ton Of the May statement of net earn
ings, showing a surplus over expenses
Of $50, 4ss compared with S7,255 last year.
Missouri Pacific, Kansas & Texas pre-
ferred, Wabash preferred. Texas q Pa
clhc and st. Louis Southwestern prefer
red all rose between and.2 points, and
aroused an active buying movement in
other portions Of the list. 1t was nota-
Bile. however, that some of the stocks
which have enjoyed the largest share OF
attention recently fell into comparative
neglect when interest began to be mani
tested in the southwesterns. The gran
gers. however, after morning declines
averaging a point were bid up well
above last nights close in the late deal
tngs. The reports Of goo4 s4eather In
the northwest and the weakness in the
wheat market and Bradstreets estimate
of q decrease of $4,000 bushels in Eu-
ropean wheat stocks were the motives
for the buying of the grangers. Part
Of this buying was said to be to cover
shorts put out yesterday. Atchison
preferred led the late market In point OF
activity and strength. rising ga points
above the early low point. Manhattan
showed Independent strength before the
market generally had turned upward.
The stock rose to within a shade Of l22,
but reacted about point. The upward
movement in Pennsylvania and New
York Central at the opening on pub
lished report OF a plan to consolidate did
not hold the general market, though
these two individual stocks maintained
the advance In price pretty well.
Practically the maximum gain for
them was established In London before
the opening here. Pennsylvania was
held at 1888 only momentarlly and ruled
not far from 1877 all day. The early
period Of the market was given over to
continued liquidation. The industrial
specIaltIes and local traction stocks
were notably weak. The late strength
Of the southwesterns were shared by
chesapeake & Ohio. Cleveland, cincin-
natl. Chicago & st. Louis. Tennessee
Coal and Colorado Fuel. The growing
case of the money market helped on the
late recovery in values. The fears OF
dearer money in London gave way I'M
der the advance of the continental ex-
changes on London. The call rate
dropped from to per cent In London.
actual rates for sterling exchange fell
X9H per cent in New York, and call
money was offered down to per cent
in New York.
Railroad bonds were only moderately
active and showed mixed changes Total
sales par value Ss,SS5,oOO.
U. S. new As advanced X per cent In
the bid price.
The total sales Of stocks to-day
amounted to S57s,S5O shares.