The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-06-28
WHEELING DAILY NTEIIIGENCER WEDNEsDAY.JuNE 2s 1899

bull leaders were evidently In con-
certed effort to make final prices OF
the day the highest. The separation
OF the trading In the railroads and the
Industrial stocks was not quite so
Sharp as yesterday. Federal Steel was
conspicuous ut the opening for an adj
vance OF rs points on the dismissal OF
the Injunction against the payment OF
the dividend declared on the common
stock. Derlals from official sources that
any labor trouble was impending
among the Street railway employees in
Greater New York also gave an upward
tendency to Brooklyn Transit and Steel
aud Wire showed some sympathy with
Federal Steel since the directors OF that
company had assigned the Injunction
against the Federal Steel Company as
reason for not declaring dividend on
their common stock. Sugar also was
disposed to move upwards, but the
early prices In the steel stocks were
the best OF the day and In none Of
the industrial stocks We're the last prices
the BEST. There was weakness OF the spe-
cialtles and hardening tendency In the
money market until the final upward
squirt. The days business US whole
was, however, larger than for some
time past. and was remarkably well
distributed throughout the railroad list,
to-day's reports OF earnings from ali
sections emphasizing the effect of those
received yesterday. The movement In
New York Central separated Itself more
from other members OF the Vanderbilt
group than was the case yesterday, and
the assertions Of the bull traders that
the brylng was for account OF insiders
was given color by the presence In the
street OF W. X. Vanderbilt. an event
always made of by the bulls. The in
creased Speculative activity can hardly
iall to call Increased loan accommodate
ticns, and this Is expected to add to the
are lily unfavorablc bank return for
Saturday, In which gold exports Of
SI.5OO,OOO already engaged will have to
fgure. The heavy dividend and inter-
est obligations to be met on July will
also make heavy temporary demands
on the money market. The possibility
of squeeze In the circumstances is
taken Into account by some observers.
But 1t was noticeable that to-day's
hardening OF money rates In New York
resulted In fall in the rate OF ster-
ling exchange, although the rates for
money In London were also higher on
the demand Incident to the stock ex-
change settlement. London bought
stocks In New York, which was said
to represent bear covering on the settle
ment and which had its influence In
lowering the rate OF exchange. But
whatever temporary furry may occur
In the local money market. the July
disbursements will undoubtedly bring
relief. These are estimated at Sis, 0OO,-
900 ut New York, at SEQ. 900, COO In Bos-
ton and Sl4,000.000 In Philadelphia on
account of interest and dividends.
There was larger proportion than
usual OF to-day's transactions made on
three day contracts.
The bond market showed increased
activity and strength IN sympathy
with stocks. Total sales. par value,
S.327.0OO. United States IS advanced
z per cent and the IS u per cent In the
bid price.
The total sales Of stocks to-day
were 5l39O5 ,shares.