The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-06-29
! FINANCE AND TRADE.
The Features of tho Money and Stool
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The Features of the Money and Stock
Markets.
NEW YORK. June 2S.-Money on cali
steady at 2Q2& per cent; last loan. 2a
per cent. tS
Prime mercantile paper, s9sa per
cent.
Sterling exchange easy, with actual
business In bankers. bills at siS7I:fD
4 SIN for demand, and ut "a S5ih14 S5St
for sixty days, posted rates, 81 S6I4 81
and 1891 50; commercial bills, 81 $50
4 S5k. M, i''s
Silver certificates. 6okG6?c.
Bar silver. 6OAc. ~
Mexican dollars, 4Sisc.
Government bonds easier.
State bonds Inactive. II.
Railroad bonds strong.
An effort was made to repeat the
demonstration Of strength in the stock
market which was given by the out
burst OF activity and strength which
carried prices to the highest In the clos
Ing dealings yesterday. but with only
partial success. Manhattan was rushed
up to a final quotation OF 1l9k which
was 81 above last nights price, us New
York Central was rushed up late yes
general list was far below that of the
New York Central movement. Decld-
eddy the most significant feature OF the
days trading was the cessation Of the
upward movement In New York Gem
trail and affiliated stocks. There was an
active opening In the stock caused by
the accumulation OF commission house
orders, which were attracted by the
recent strong upward movement of the
stock. 1t was advanced early In the
day almost Il point. The demand was
evidently satisfied for the time being.
and the movement lacked snap. The
price was allowed to lag. There were
various factors of strength In the day $
developments which prevented break
In the price of railroad stocks. but there
was obvious profit taking ut some point.
and the days net advances are small
except In few cases. The rally ut the
close did not bring prices back to the
top level. The most potent influence
in favor OF the bulls was the favorable
disposition manifested toward American
securities In the London market. This
was In the face of tendency to dull
ness and depression in the general mar.
ket there. The taklngs for London ac-
count IN this market We're estimated
at $4,000 shares or upwards of various
stocks. The demand was most eager
for Louisville & Nashville. which rose
nearly . points on the London demand.
Various rumorS were In circulation of
an approaching increase In the dIvi-
dend rate to account for the rise. South
ern railway preferred was strong in
sympathy. The effect Of the London
buying was shown In drop In the ac-
tual rate for demand sterling to 81 S7Is,
thus precludlng the likelihood of fur
Their gold exports at the present time.
The local money market also remained
steady in spite of the activity of spec
ulation In the stock market. State
mcnts Of railroad earnings which were
received during the day continued the
extraordinarily favorable showing
The cash demand for wheat and the
buying for export were sustaining fac
tors In the granger group. even though
the decline in the heavy northwest
receipts were reported to have set in.
In view OF these continued strong fea-
lures in the situation, an effort was
made 10 shift the speculative activity in
the lower grade of railroad stocks when
It was seen that New York Central had
become quiescent and profits were be-
Ing taken elsewhere. Southern and
western railroad stocks were the favor
llcS. lIliilS tIe INDUSTRIAL StOCkS,
which had been entirely neglected. were
taken In hand for rise. under the en-
couragement of the strength manifested
by Sugar and American Tobacco. They
proved rather he.vy to llfc and dropped
Off In the last hour. Continental To-
bacco and Federal Steel were especially
weak. The tirmness at the close was on
shOr. covering induced by the final
squirt In Manhattan
Railroad bonds were moderately nc
tive and strong. Total sales, par value,
s2.7i5.OOo.
U. S. IS coupon declined u in the bid
price.
The total sales OF stocks to-day were
5G2, 14S shares.
NEW YORK. June 2S.--Thc govern
ors of the New York Stock Exchange
have decided to suspend business on
Monday, July 3. Their action permits
q holiday for the members from Satur-
day, July ]. Mt u noon to Wednesday,
July 5. ii 10 a. m.
BONDS AND STOCK QUOTATIONS..