The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-10-07
FINANCE AND TRADE.
The Features OF tho Money and Stock
Markets.

The Features of tho Money and Stock
Markets.
NEW YORK, oct. 6.-Moncy on call
easier at 4GS per cent; last loan per
cent. Prime mercantile paper 5Ia@s per
cent. Sterling exchange firm, with ac-
tual business in bankers bills at
81 s6lsG4 Ss4 for demand and at 81 si9
4 S1K for sixty days; posted rates 81 SO
4 IS and 81 SsM94 81 Commercial bills
"a SOl4 sOJs. Silver certificates 5sls@
SOC. Bar silver 57%c, Mexican dollars
47c.
Government bonds strong.
with the exception Of some profit
taking sales In the Inst hour Of to-day's
market the movement of prices was up
ward Mt most without interruption.
The demand was not large at any time,
but the supply of stocks proved small
even at the higher prices except In a
few cases, notably Southern Pacihc,
which met large offerings at rs. the
late break was led by Brooklyn Transit.
which was pressed down under flood
OF offerings to 81. an extreme decline
OF $50. The profit taking which was
Induced by this weakness was most
conspicuous in Sugar and Tobacco
which lost nearly two points each OF the
extreme advance. The initial Impulse
to the rise came from London where the
easier money conditions and nope
that a peaceful settlement Of the
Transvaal difficulty is stlll possible In
duced large covering by the bears IN
all departments. London bought stocks
here to the extent OF upwards OF $1,000
shares and showed a special desire for
L louisville which led the active railroad
list with a net advance OF 1% after an
extreme rise OF two points. The maxi
mum rate for call money was per cent
to-day, against 70 per cent yesterday
and 90 per cent the day before. The rate
fell to 4 per cent In the late dealings.
This progressive decline In the money
rate was an important element IN the
strength Of stocks and awakened e&-
pectations OF good bank statement TO-
morrow. The expectation seems to be
based on the fact that the banks are
known to have received $2,O0O.O0O in
gold, on account OF postoffice receipts
from Cuba and drafts from the San
Francisco mint on account Of klondlke
rold deposited there. The gold engaged
last week in London also figures In the
expectations Of spectators, though 1t
will not be received until tomorrow
and Will not figure In to-morrow's bank
statement As matter OF fact the
New York banks have lost on the inter-
Tor movement, so far as known move
ments are concerned, about $S,OOO'OOO,
Operations with the sub-treasury lndl-
cate a further loss by the banks OF
81, SCI 600. Allowing for the $2.OOO,O0O
gold received, the net loss In cash TO the
bnnks seems TO be upwards OF SS,b0O,OVO
The result may be complicated by the
effect OF money spent here by the visi-
tors to the Dewey celebration, which rs
mn unknown quantity. The easier rates
for money are largely due TO offerings
on account Of outside banks which VIII
be OF no advantage to the New York
| banks In their weekly showing. The
| relaxation In London discount rates to-
day resulted In decline In sterling eX-
| change at Paris and Berlin. In strong
contrast was the sharp advance In the
sterling exchange rate here. This is
/ said to be due to covering by exchange
I bankers. who have sold bills In nnticl-
/ patton OF n large outward movement OF
| cotton and grain. The chartering OF n
large number OF vessels by the British
| government to transport troops and
| the resulting rise In rates for shipping
| awakened few that shipments Of
/ merchandise may be hampered.
| The bond market continued firm, but
/ the movement IN prices was upward.
Total sales par value, Sl,55OOOO.
| United States 80 advanced n. and
new Is 4 per cent In the bid price.