The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-12-14
FINANCE AND TRADE.
The Features Of the Money and Stool
NFhTketa.

The Features OF Fne money enu SSVSA
Markets,
NEW YORK. Dec. 1s.-Money on call
arm at sss@s per CENT Last loan s per
cent; ruling rate 6 per cent. Prime mer-
camille paper 5ssas per cent. Sterling
exchange very strong. with actual
business in bankers bills at a STAG
4 s7M for demand and at 81 st9s@f s1%
for sixty days. Posted rates
81 s2M and 81 1904 ssh. Commercial
bills 81 s0@4 soy. Silver certificates seq
5s,kc. Bar silver 5s95s1Sc. Mexican
dollars 471sc.
Government bonds strong
State bonds inactive.
Railroad bonds weak.
The market yielded to Decentralization
during the latter part Of to-day ana
stocks were thrown over wholesale on
the down grade. Prices went below
the low point Of Monday all around and
Hthe market closed In q highly excited
condition. The few rallies that were
effected were due to the haSty taking Of
! profits by the bears, which were suth-
GENTLY attractive on the day to induce
the closing out OF short accounts by the
professional operators who .perslBtently
sold the market at the higher level.
The market made some headway
against the depression during the early
dealings and at one time had very
largely overcome the opening losses
which were reflections from the foreign
exchanges. The weakness abroad was
due to the growing seriousness OF the
situation Of the British campaign in
South Africa. London was very
heavy seller IN theiNew York market,
but Its offerings seemed pretty we'll abb
sorbed. The grangers rose notably.
above last nights level and Sugar and
| Brooklyn Transit also made consptcu"
Gus progress towards recovery from the
recent depression. But during the lat
ter part Of the day the operators in
stocks shut their eyes to everything
but the gloomy nppFehenslons over the
future. The existing condition OF the
money market was at no time stringent
! and IN the late dealings the rate for
| call money ran down to 34 per cent.
| The announcement OF the determine
tlon OF the Pennsylvania railroad to
distribute stock par to the extent OF ~
per cent OF the capital came as total
surprise and under ordinary circum-
stances would have been determining
factor in rallying the market. II lifted
| Pennsylvania three points and New
York Central 2& and caused q tempo
rary lull in the spnsm OF LIQUIDATION
| But the pause was only momentarilys
I Equally without effect wns the extra
| dividend declared on Northern Pacific
| common, bringing the rate for the year
up 10 3 per cent The persistent llqul-
| dalton in Sugar gradually spread
throughout the list. In the tinnl deal
\ ings Sugar went twelve points below
| the highest, Tennessee Coal l0k; CONT
! mental Tobacco preferred SlS; Great
| Northern preferred z; Metropolitan q;
| American Tobacco 5M, and LaCkawan-
ma G, Although losses In the railroads
are not so wide as a rule, the Mquidn-
ton In them was very heavy The de-
| clines reach over three points N 81
| Paul, Louisville and a number OF the
conlers and exceeded two points in an
| extended list The conditions were app
| pnrently much easier IN the money
market, but sentiment regarding the
outlook was exceedingly feverish and
unscttled and the street was full OF
| contradictory rumors regarding deyel-
oprnents. The violent Jump In sterling
| exchange rates both here and ut other
points made It sufficiently evident that
| London was the real seat OF trouble and
apprehension was expressed OF future
| dlhicultles there. The denials OF yes.
| tefQHy8 EHnhEu VI p tO1.A ~ AptSSss'N1s
BY the Bank Of France TO the Bank OF
England was potent influence IN up:
getting the market, Indications pointed
| 10 4 hope on the part OF London OF OBJ.
| tRining gold IN New York. The Ole,
! story Of loan by banks OF the United
! states TO the Bank Of England was re.
yived with the additional detail that
| the banks had Accumulated govern.
1fent bonds which the secretary OF the
| treaRury wNs to buy thus supplying
ne needed Gold from the United States
treasury, The amount rumored was
| ri. 900 900. In the morning the Cam
| dian banks were said 70 be calling IN
their extensive loans with q view OF
rGmitting gold to London. but In the Of
ternoon came the report that the Ca.
/ nndInn branch banks have received
e OOO 900 In gold from Canada since Fri-
| dav and have been free lenders OF mo.
nev to-day, The fact that the sub
treaaury this week has already absorp.
"a Sib6s 900 from tho money mnrket
aF0tseH hone IN speculative circleA OF
soYrO mcclure Of relief by the treasury
depHrtnent. But the certainty that
/ any plentiful supply Of money would
necesRltalA shipments 10 LEMON on
account Of the imperative needs o. thnt
centre deprlveE the stock nerket OF
any hope Of real relief until the situn-
tion IN London becomes easier
Bonds went on sharply IN tne le ,!i
donilnrr. but declines were relatively