The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-10-24
FINANCE AND TRADE.
The Features Of the Money ana Stock
Markets,


Markets.
NEW YORK, Oct. 23.-Money on call
steady at 597 per cent; last loan s per
cent. Prime mercantile paper 5@5!s
per cent. Sterling exchange easy, with
actual business in bankers bills AT
"a Ss%aI 81 for demand and at "a S23tS
4 SO for 60 days; posted rates 81 $40
4 s45s and 81 ss94 ss1a; commercial bills
81 81. silver certificates 5sH959c. Bar
silver 57Hc. Mexican dollars 47c. Gov
eminent bonds irregular. State bonds
Inactive. Railroad bonds strong.
The market gave convincing evidence
to-day Of substantial growth of bull
sentiment In Wall street. The dealings
took on more appearance of animation
than at any time since the violent
downward course Of prices when the
money situation first began to awaken
anxiety. Dealings were very well dis
tributed in that almost every depart
ment of the securities market was re-
ported in the advance. Handsome
gains In price were achieved In many
promInen. stocks and in large number
Of cases the last prices were the best.
In other cases profit taking made nota-
BILE lnroads upon the highest prices and
some effort was obvious In sustaining
the market in the closing dealings. 1t
was a noticeable feature OF the market
also that while a number Of members
Of distinctive group of stocks wolId
show great strength and activity, other
members Of the same group, seemingly
dependent on the same influences would
remain quiescent and almost immovR-
bic. Thus while Louisville and the
Norfolk stocks advanced vigorously,
other conspicuous southern lines OF rail-
roads were quite unaffected. Again,
while the grangers as rulewere strong
and active. Northwestern scarcely
moved and the Pacific stocks including
Southern Pacific, showed very sllEht
response to the prevailing strength. The
New York. Chicago & st. Louis sticks
we're subjected to rather pnlpaSle
manipulation. the hrst preferred rising
an extreme points and the second pre-
ferred points. New York Central was
also vigorously bulled to maximum
price Of $40. The high priced special
ties, including Sugar, Tobacco and P.o-
Pies Gas and the local traction stocks
were all OF them quite uggresslvcly
strong, The largest activity was In
the Leather stocks and the buying In
them continued until the close the
common crossing 10 and the preferred
touching 81. This enumeration includes
the most conspicuous instances q
strength. There was at the same time
notable backward movement in pull
man, Laclede Gas and Anaconda, which
show net declines respectively OF ~, i
and points, American Mailing aud
one Of two of the iron and steel stcckH
also reacted. Glucose Sugar preferred
dropped points in spite OF the strength
OF the common stock. How far tn"
days strength was due to covering by
the short interests. which common cree
dence places nj still large proportions
IL WOulO W ulllNulN W HHSF AHN pub'lN
had little to do with to-dHy's rise. But
professional orders of large calIbrc
took conspicuous and confident part
in the market. The continued down
ward course of sterling exchange affords
relief from all apprehension of gold cS-
ports. But no prospect is dIscernIblG
OF easier money conditions. Call money
to-day was sufrer nj c and Z per cent
and time loans for all periods again
came back to per cent. The exchanges
continue to move In favor of the Inter-
Tor ms against New York Recent large
expenditures by government show a de.
clinlnE tendency and thus threaten
renewed drain on the New York banks
taking Up the government surplus. To-
days movement OF stocks demonstrates