The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-06-03
FINANCE AND TRADE.
The Features of tho Money and Stock
e Markets. p.

The Features of tho Money and Stock
Markets. g.
NEW YORK, June money on call
steady at 1903 per cent; last loan Ii
per cent. Prime mercantile paper $40
AZ per cent. Sterling exchange wenk.
] with actual business in bankers bills
ut 81 S7NG94 IS for demand and ut 81 S5ls
al S5E for 60 days; posted rates 81 SstS
o. 81 and 81 49,, commercial bills 81 $50
4 S5h. Silver certificates 61062c.. Bar
silver Go%c. Mexican dollars 4sAc.
Government bonds strong. State bonds
inactive. Railroad bonds irregular.
The bears suffered q complete rout on
the stock exchange to-day and rushed
to cover outstanding short accounts
with symptoms Of distress. Prices were
marked up In the last half hour Of the
trading In way which showed plainly
the cagerness OF the shorts to close out
their contracts so that they were bid
ding prices up on themselves In many
cases. No more complete reversal OF
speculative sentiment could be imagined
and the weeks earlier losses were wiped
out In all but few cases and the gen.
eral level Of prices brought back to
above that Of last Saturday. The bears
did not yield the field without d strug-
gle. the opening OF the market showing
declines In number of stocks which
have been favorltes largely for the
bears In recent market. Sugar was
raided down q point and Brooklyn
Transit, Manhattan and number Of the
steel stocks were under pressure while
the opening gain in Metropolitan was
almost wiped out. But the strength In
the railroad list, especially in the inter-
national stocks IN sympathy with the
earlier rise in London and on buying for
London account checked the early effort
to force decline. Metropolitan Street
Railway, Sugar and Brooklyn Transit
all developed quite buoyant tendency
and the bears drew off their forces and
awaited developments. By the time the
buying for London account had been
executed the market became dull and
the bears returned to the attack They
produced some impression on the To-
bacco stocks, American Mailing prefer
red, Rubber and Minneapolis, St. Paul
and Ste Saint Marie, but with no effect
on the general list. a 2point decline after
midday In Sugar was the only suisse
guent evidence OF any weak point In the
market and the stubborn resistance of
prices induced the bears to abandon
their campaign and to rush prices up in
the final hour In their panic-stricken eff
forts to cover. Net gains throughout
! the list range from to over points for
the majority, Of the active stocks. The
announcement made after business
hours yesterday Of the engagement Of
100000 gold for export came as n sur
prise and was greeted hopefully by the
bears. But the operations made to re-
lieve the London market and thus
awaken buying movements in the stock
'''N@ y s!A Nb4 W tdS AL anu
was detected back upon the New York
exchange. The strength In wheat was
equally Ineffective In depressing prices
OF stocks, rs the reported failure of
Russian crops was expected to bring
out large reserves OF American wheat.
In the outside market there was q. very
strong recovery In the stock OF the
Amalgamated Copper Company which
| touched 95. This was accepted as n re-
sumption Of aggressive supporting by
the powerful interests behind that COM
binat!on. Good reports In the anthra-
cite trade and the expectation Of 4 fav-
orable bank statement by reason OF
contradiction OF loans all contributed to
the upturn in prices
There were yielding points In the bond
list but prices of many Issues turned
upwards. Total sales par value 81 ,OoO,-
OOO.
U. s. 3s registered advanced !: and do
coupon y per cent In the bid price.
The total sales of stocks to-day
amounted TO 523.49o shares.
crnrLsc,