The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-06-13
FINANCE AND TRADE.
Tho Features Of the Money and Stock

J =. = VI D. 49,
& Markets. IA
y NEW YORK. June 12.-Money on
call steady at 293 per cent; last loan
w per cent. Prime mercantile paper
3A94 per cent. Sterling exchange firm
with actual business In bankers bills
at 81 S7Z@4 IS for demand and u.
81 S5&@4 Sc for sixty days; posted
rates 81 S6k@4 81 and 81 50. CONNER
cinl bills 81 s5@4 SSH.
There was evidence OF large buying
by powerful interests In limited num-
Der Of stocks and OF manipulation to
advance prices In the stock market to-
dry. Speculation otherwise was in a
somewhat ncquiescent state. Outside
Of special cases where prices were sup.
ported the tone was rather heavy
Many Of the railroads ranged down
ward within the limits OF point dur
Ing the early trading.
There was organized buying through
the day Of Federal Steel, which was
marked UP early three points and clos
ed almost at the top. There was some
sentimental effect exerted by this on
other steel stocks. American Steel &
Wire responding late In the day on
covering Of shorts. But none Of .be
gains In the group were well held out
side Of Federal Steel. The so-called
Flower stocks were all well supported
and Brooklyn Transit shared It's
strength with Metropolitan Railway
and Manhattan. This group Of New
York Traction stocks showed the effects
Of realizing from time to time during
the day. and Manhattan was dragged
below last nights close by It's weight.
The grangers were taken at one time.
st. Paul led, but did not retain all Of
the gain and In some Instances more
than lost 1t. The coalers were pretty
well sustained also. Other points Of
strength were Pittsburgh. Cincinnati,
Chicago e. St. Louis, which rose an ex-
IRENE 3A: Chicago Terminal preferred,
newly issued Wisconsin Central stocks.
Sugar fluctuated up and down during
the whole day. but always above Sat-
urday's level. 1t rose ut one time three
points, but lost 1t all before the close.
There was no evidence Of outside de-
mnnd to keep the market up and the
railroad group showed Itself affected
by the heavy tone Of the foreign stock
exchanges on account of political dis
quiet. The announcement of the res
isnation Of the French ministry helped
the late reaction In prices. The en-
gagement Of an additional $1,000 900 Of
gold for export tomorrow, although
the probability of It had been intima-
ted. also weighed on the market. No
effect was apparent In the money mar
ket which continued decidedly easy,
Exchange also. though it hardened a
shade. continues broad faction below
the point where experts can figure q
profit on gold exports.
!. - 10 III laGl GENERALLY ADMITTED thlt
the gold movement Is due to actual
buying Of the gold In this market to
replenish the reserve OF the bank of
England and probably also for Rus
sian purposes. This Is precisely n
Similar operation to that adopted by
the United States government through
syndicate to replenish the gold In the
treasury during the last ndmlnlstra-
tlon. 1t Is to be noted that while the
foreign money markets are thus draw
Ing on New York for gold as the most
available source Of supply, New York
banks are Offering special Inducements
such as paying the eXpressage on bills
RENTED by their interior correspond
ents to secure 4 supply of legal tender
notes to meet the demand Of actual
business condition.
The market for railroad bonds was
dull and sluggish. and changes are
mixed. Total sales par value, s., 800, 900,
United States IS and the SIS declined
u per cent In the bid price.
The total sales Of stocks to-day
amounted to 6OS,3S9 shares.