The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-11-01
FINANCE AND TRADE.
The Features Of the Money and Stock
Markets.

&A4AA AA6I1s
NEW YORK. Oct. s1.-Money on
call firm at 5000 per cent; last loan
per cent, ruling rate 20 per cent. Prime
mercantile paper 565M per cent. sterl-
ing exchange easier, with actual busl-
ness in bankers bills at 81 s61z94 S6&
for demand and at 81 s2N@4 SO for
sixty days: posted rates 81 "a and 81 IS.
Commercial bills 81 50. Silver certlA-
Gates 5SH05sac. Bar silver 5SSc.
Mexican dollars 471hc.
Government bonds steady.
State bonds inactive.
Railroad bonds irregIaur.
Prices Of stocks fell at the opening
to-day, and under the weight of selling
for London account. The market at
that center was In a state of semI.de-
moralIzation on the news of the loss of
a considerable force Of British troops
by capture from Ladysmlth. The sales
for foreign account In New York, ran
up to nearly $4,000 shares. The result
ing loss In prices reached point or
more in several prominent stocks, not
ably among the southern railroads,
which have been recent favorites for a
rise. The experience OF yesterday left
no one disposed TO buy stocks and the
London offerings were poorly taken.
Active selling OF some OF the prominent
stocks added to the weakness. After
the opening decline, however, some
support was Forthcoming, which seemed
to be based on the hope Of relaxation
in the money stringency, but quota
lions for money at 20g25 per cent again
turned prices Of stocks downward, The
speculative liquidation seemed to be
concluded about noon and there was
some recuperatlon during the latter
part OF the day which was encouraged
by strong spots In the list The iron
and steel stocks became especially
prominent led by Federal Steel. The
strength In this group was attributed to
demand from large outstanding
short interest. The rise In Federal
Steel reached 5h and In Steel & Wire
3%. There were sympathetic advances
in National Steel, Republic Steel, Amer
lean Tin Plate, American Smelling and
other iron and steel shares running
from fraction to az, the latter Ma
tlonal Steel. There was Il good covering
demand for q number of other proml-
nent specIalties, and the railroads, es-
pecially those in the southern group.
retrieved good part Of their early
losses. The Wisconsin Central new
stocks were conspicuous for an advance
to about ~ above last nights level.
The market closed Arm generally at
small net losses. The call money was
very feverish all day. recedlng several
times, but recovering violently and
suddenly The last loan was at per
cent. the low level and the rate ranged
above that to thirty per cent, the de.
mand being apparently urgent and
large. Loans were called by the banks
on an extensive scale. The demand for
time money was good and tenders de-
manded per cent on choice collateral.
The extensive calling of loans Is at
trIbuted 20 needs fer the first Of No
vember settlements and there is de-
mand reported also for payment OF
subscriptions to some new industrial
combinations. The rate for sterling
exchange declined further in response
to the stifr money rate and without
regard to the hardening Of the money
market In London. New York eX-
change at some southern points weak
ened sharply and the sub-treasury was
a creditor at the clearing house to-day
to the extent of $l26000.
The tone OF the bond market was
better than that OF stocks and a num-
Der OF middle and low grade mortgages
were in good demand. Total sales par
value, $1,97O0OO,
United tSates bonds were unchanged
in bid quotations.