The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-03-13
FINANCE AND TRADE.
The Features OF the Money and Stool
no NnrEcfS

1 e ?. .
The Features OF the Money and Stock
Markets.
NEW YORK, March 11.-ouotatlons
on the stock exchange left Off fraction
ally above yesterdays close and near
the highest. Trading at the outset was
OF hesitatlng character, showing a
disposition to follow any move in the
specIalsies. This was indicated By q
rise In Sugar, the, improvement in this
stock cancelling the earlier decline.
| The general market moved sympathet-
icaliy, but very narrowly. Subsequent
| ~ there was raid on Metropolitan
Street Railway, which dropped 1t five
| points. This incident stimulated short
sales on the other stocks with concess-
ions quite material in Manhattan.
Brooklyn Rapid Transit. Sugar and
Bay State Gas. The latter was partlc-
ularly influenced by the action Of. the
Boston exchange authorities In discon-
tinuing trading in the stock. This nc
ton was subsequently taken by the
governors at the local exchange. The
railway shares moved very sluggishly
| and at attempts to improve them BY
the heaviness OF the Union Pacific is
sues, in which foreign selling was quite
pronounced. Various pessimistic ex-
pressions as to the probable character
| Of the bank statement. which had been
| rife during the week were partly eradl-
Gated when the statement was publish
ed. The salient feature of It was
| contraction In surplus reserve OF only
! H,3T5,l25. The loan account showed a
| reduction OF over s3.000.000 Cash de-
creased s4,413.000, which reflected sub
| treasury operations In connection with
| the Central Pacific settlement. The
| statement was received with consider
| able favor In the street, and induced
active buying, raising the general level
| OF prices above last night. The closing
| was strong and active. ThA stock spec
ulatIon for the week was largely OF 4
professional character, with sales about
| million less than those OF the previous
week. While stocks showing advances
were more numerous than those flgur-
Ing for declines, gains registered In the
railways were In obscure properties, the
general run OF active shares. particular
| ly the Changers and Paciflcs losing
ground. Owing to the unusual promi-
| hence and support extended to the spe-
| cialties during the week many OF these
properties show handsome gains. a
| furry In call money In which quotations
| for time reached ~, was largely due
to the financing of the Central Pacific
| settlement with the government, the
| Chicago & Alton deal and various In
| dustrial combinations. The money to
pay the Cuban troops had no effect on
| the money market as 1t was withdrawn
| froD, 4 ha ctth A
OF country bank balances reached New
York because OF the firmress In the
money rates, and there were arrivals OF
round amounts of gold from the Pacific
coast and money gradually eased off
| from Its high level. While money was
| In particular demand there appeared
reflex easing In sterling exchange,
which again strengthened as money
became easier.
Third Avenue became strong or the
| belief that threatened hostile legislation
was less likely. Metropolitan retained
j net gain OF l3 on expected favorable
developments. Brooklyn Transit was
strong on the reports that 1t was TO alb
| sorb Long Island railway. and the lat
ter advanced 5 points. Much interest
| attached to the declaration OF the regu-
lar quarterly dividend on Sugar and
| the stock was strong in consequence.
Continued reports OF progress in the
so-called anthracite deal were given
| color by the strength displayed for the
| most part OF the week In these proper
| ties. Lackawalna retaining six points
OF an extreme rise OF 2.
The continued good demand for iron
| products was an example Of the en-
couraging trade advlces in many other
| industries.
| The bond market followed the ten
| dency OF stock prices pretty closely
which caused considerable irregularI;y
in the dealings. The market as
whole showed a very substantial I'M
| dertone and some striking gains were
recorded in issues which do not usually
assume much prominence in the trad
ing. particularly the Missouri Pacific
| mortgages. Special Influences We're In
strumentai In effecting wide changes in
numerous cases.
United States old Is registered de-
clined Y, the new Is Il. the IS and the
old coupon Y, and the IS Is per cant
in the bid prices.
STOCKS AND BOND QUOTATIONS.
| o.,