The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-06-24
FINANCE AND TRADE.
Tho Features of tho Money and Stock
NfarttatS 40

I
Markets.
NEW YORK. June 23.--Money on call
steady at 292h per cent: last loan 2,..
Prime mercantile paper 343R per cent.
Sterling exchange firm.with actual bus
mess In bankers bills at 81 s$g4 SSH
for demand and at 81 S5%.s4 Sc for co
days; posted rates 81 S5isd4t 81 and
81 50; commercial bills "a ssh. Silver
certificates 6Oh962c. Bar silver so,sc.
Mexican dollars 4sMc. Government
bonds easier. State bonds inactive.
Railroad bonds Irregular.
The stock market did not extend be-
yond professional bounds mt my time
to-day. but the small. active element
amongst the operators were disposed to
cover outstanding short contracts and
as q result prices are very. Generally
higher on the day, In such cases nota-
bly, so. The meeting OF the directors OF
the American Steel and Wire Company
to settle the much discussed dispute as
to whether or not dividend should be
declared on the common stock was the
central event. of interest. After the d.
rcctors went Into session the meeting
waited with eager and almost breath
less expectancy for the result. Much
bitterness has been manifested among
the conflicting elements over this ques-
ton, but the action of the stock when 1t
was finally announced that no dividend
would be declared at present showed
that the event had been thoroughly dis
counted. The price closed at the high
est of the day, 2h points above the
lowest. There was a momentary to
near the lowest, after the news came
out but offerings were small and the
price quickly moved upwards, absorb
Ing some blocks Of moderate dimensions
on the way. The action Of this stock In
face of the worst that had been fore
told cleared the situation iund there
were some sharp advances In the clos
Ing dealings. The steel and wire news
did not come out until within half IN
hour OF the close and the earlier
strength of the market then reasserted
itself. There was a period of practical
stagnation and yielding Of prices before
this question was decided. The great
| improvement In the sentiment on for
eiGn stock markets was reflected at the
opening here notably In the Baltimore &:
Ohio stocks and there was q good de-
mand later for the Vanderbilt group OF
railroads. the granBers, the Pacific,
Continental Tobacco and u number OF
other specialties. Sugar. Tennessee
Coal and Iron, American Smelling and
the Distilling group were centres OF
weakness at ore time but without gen.
eral effect on the market. Metropolitan
Street Railway was up over 4 points ut
one time and Air Brake rose II points.
Baltimore &. Ohio common gained 8
points but the advance in the preferred
was not we'll held. The gains In the
railroads as q rule were very firmly
held. The announcement OF $4,000, 900 In
gold for export Tomorrow, had no eff
rect on the market, as the bears had cir
culated rumors yesterday OF a much
larger amount and the event had thus
been discounted. Money rates hardened
In London and there was rally OF frac
ton In rate Of Distilllng exchange on
New York; but relaxation OF the poliu-
cal tendon abroad has apparently
served to partly relieve the pressure for
gold. London bought stocks In this
market to-day. Another unfavoruble
bank statement Is expected Tomorrow
as the banks have been losing both to
the Interior and to the ub-treasury on
account of the surplus of revenue re-
ceipts over expenditures. Some OF the
gold exports will also figure In the re-
turn. though none Of the $4,000, 900 an
nounced to-day will be included. The
changes In loans cannot be foretoid,
though events in the stock market
would indicate a contraction. But this
was true last week also when the events
showed an expansion of s15.OO0,0OO.
The bond market was only moderate
ly active and changes were mixed.
There were heavy takings OF St. Louis
Southwestern ends at an advance Of 8
per cent and of Wisconsin Central firsts
at an advance of l per cent. Total
sales par Value S2.G37,000. H.
U. S. IS coupon declined * per cent in
the bid price.
The total sales of stocks to-day
amounted to 315,46S shares.
STOCKS AND BOND ovoTATIoNs