The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-01-12
FINANCE; \; aAl MD
Tic vcn,urcs orihc ,iopcy ana So.

-5S Markets.
NEW YORK. Jan li.--Money on call
steady at ~ G2 pr cent: last loan, per
cent Prime mercantile paper. $685.
per cent. Startling exchange steady.
with nc,ual 5bs!Eincss in$ bankers bills
at 81 'sihIi sis9ts for. demand and at 81 s.!
s4 S:h for sixty days; posted rates.
81 1904 S51l; commercial bills. s. ST. Sill
yer certificates nominal at 59.s EO1tsc.
Bar silver, 59Ae: Mexican dollars. t65;c
Directors meetings wcrc responsible
for considerable variations IN the char
ucter OF the stock speculation to-day.
As In usually the case forecasts were
rife As to the probable action OF the
various directories In session. which
were utilized for effect upon The market
raiac Of the securities Interested. The
most important development was the
action OF the louisville G. Nashville d.
rectors in replacing the stock IN the
category Of dividend payers. The re-
ppri submitted for the six months end
ms December 81 showed total income as
si,4S7,G22 and surplus Of si,ts6. 100, after
deduIttng fixed chdrscs and sinking
fund Z lrcAulrcmcnts.. This exhibit
prompted the management 10 declare n
dividend OF III per cent out OF the earn
ings for that. period. which may fore
shadow Il regular annual disbursement
OF per cent. The dividends on this
property were suspended In 1893 and a
reduction OF 10 per cent was made in
the salaries OF employees, with a proviso
that they would be restored when earn.
lngs warranted II. This promise was
carried out last year. and the successive
favorable character Of the traffic state
mcnts published aroused expectations
with the investment public that the
dividends would soon be declared on the
stock. Tho proceedings OF the sugar
directors were also viewed with consId-
cratic interest. as itlwas in,imatcd
that some publicity would be given OF
the result of the comnany'S operations
In the pending trade war. The stock
holders ratification OF the action Of the
directors In voting TO reserve the profits
OF the company as working capital was
Interpreted by the bears rs Indicating
n possible abandonment of dividend
payments. The stock was thrown on
the market In large volume, and sufficcd
to check the aggressive upward move
rleht which was In progress on the an
nouacement that the senate committee
had agreed 10 report without amend
mcnt Inc peace treaty. The market in
general presented other features Of
striking interest. Including as 1t did, an
outburst OF Investment buying which
improved the standard shares from to
4 points. The Vanderbilt stocks were
unusually prominent. and burst OF
animation and strength which lifted
Pennsylvania Ak points exercised a
hcalthful influence on the entire market.
The spcclaltlcs, aside from Sugar. NOV
ed in comparatively narrow limits. and
figured very moderately In the days to-
tai. Early weakness. In which Pitts
burgh. Cincinnati, Chicago & St. Louis
made n sensational break OF OK points,
gave the bears a temporary. advantage.
but the bulls got the whlphand In the
SUBSEQUENT dealings and closed the mar
kct we'll up to the best Mt substantial
gains. London operations were con.
sldcrahly reduced. and on both sides OF
the account.
The bond market developed n sagging
tendency. but reccssions were not sig
nitlcant. except In Isolated cases. United
States IS coupon declined y per cent In
the bid price,