The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-07-14
FlNANcE Az TRADE.
The Features ofthe Money and Stock
Markets.

Markets.
NEW YORK. July 1s.-Money on call
steady at sG44 per cent; last loan :
per cent. Prime mercantile paper slS9
4 per cent. Sterling exchange easier
with actual business In bankers bills
at s. s7K6l SIN for demand and at
"a sI64 s4H for 60 days; posted rates
81 s564 IS and 81 ss94 ssh; commercial
bills 81 ssE04 81. Silver certificates
eO0slc. Bar silver 6Oc. Mexican dol
lars I7Nc. Government bonds easy.
state bonds inactive. Railroad bonds
steady.
The heaviness which was predomi-
nent in the stock market to-day repre-
scented the shIfting Of Wall street sem
timent regarding the money situation
more than anything else, though It was
emphasized by the rise in the Bank OF
Englands minimum rate Of discount
70 81 per cent on the acute weakness
of the local traction stocks, especially
Brooklyn Transit, which dropped over
sn at one time. Wall street had It that
a strike had actually been declared and
the stock in that group rallied when
this canard was denied. Wall street
seemed to lay more stress on the ad-
vance in the Bank OF England rate
than London itself. The stock market
there was dun but prices. especially Of
Americans, were well maintained, in
spite OF the rise in the private discount
rate, There was a sharp rally in Brit
fish eonsols and in French Rentes and
foreign markets seemed to be relieved
from the tension Of apprehension over
the TransvaaI situation. But never
theless prices Of the internationals led
the decline in New York and many
stocks had fallen a point In the course
OF the first hour, the grangers being
conspicuous. Sugar also developed
early weakness and only partly recov-
cred It's decline. The southwestern
stocks offered point OF resistance,
Missouri Pacific leading as was the case
yesterday and st. Louis Southwestern
preferred and Texas & Pacific follow
ing rise. Anaconda was also strong,
following London's lead and was
one time up points. There was
sympathetic activity and strength
in Amalgamated Copper in the outside
market, the shares rising above SO.
During the afternoon strength devel-
oped in Federal Steel, American Steel
and Wire, American Cotton OIL, which
induced general recovery in the spec
Ialties. Northern Pacific rose to 81 in
the late dealings and checked the de-
cllnlng tendency on realizing. New
York Air Brake after an early decline
jumped rs points and Mobile & Ohio
rose 8. The local money market was
easier In tone. but operators who fought
yesterday on the prospect Of a fav-
orable statement, were inclined
to feel that they had exagger-
ated the prospective benefit. There
were realizing sales from this source.
Last Saturdays statement is generally
recognized TO be, in the words Of the
manager Of the clearing house, 'sIngu-
larry unfortunate" in the working Of
the system OF averages to make the re-
turns seem worse than the actual COM
dltion Of the banks. This weeks state
ment is expected to be remarkably
strong, but 1t is feared 1t may be equal
Iy unfortunate in rejecting actual con-
dItIons. A number of very heavy loans
were llquidated early in the week and
there has been some expansion, but the
fact of a progressive Increase in the
total will make Saturdays showing Of
loans based on rising averages and
therefore likely to under-state the act
ual total at the end of the week. The
sub-treasury has been taking money
from the banks and the interior ex-
changes still run against New York.
The announcement OF one OF the great
insurance companies Of its intention to
dispose Of all It's investments In
stocks was a weight on the market
during the early hours, but some relief
was cause by subsequent announce
ment that the holdings would probably
be disposed of at private sales. New
York Centrals increase in gross earn
Ings for June OF &56O,OS4. helped the late
recovery in the market. The close was
about steady at mixed gains and losses.
The railroad bond market was rather
dun and Irregular. the Southwestern
railroads being in good demand. Total
sales par value E2,s25,OOO.
U, S. old IS registered declined x per
cent in the bid price.
The total sales of stocks to-day
amounted to 1885 shares.
STOCKS AND BOND QUOTATIONS.