The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-12-22
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.


NEW YORK, Dec. 2l.-Aforey on, cal!
steady at S97 per cent; last loan 4 per
cent; ruling rate per cent. Prime
mercantile paper 5Aa6 per cent. sterl'
ing exchange easier. with actual busl-
ness In bankers bills at 81 S7IGff4 S7i&
for demand and at 81 sOAgi sos for
sixty days: posted rates "a Sl5G4 81
and 81 Ss14 sSIs. Commercial bills
"a SOK IA S0X. Silver certificates 5sStG
59lsc. Bar silver 59c. Mexican dollars
47lac.
State bonds weak.
Railroad bonds weak.
The stock market had &c, carry an
other heavy load OF liquidation. Trad
ing was on smaller scale than on
any previous day this week, but the
tone was feverish and unsettled
throughout and fluctuations were con-
slant. The principal selling pressure
came from London, where the money
dItHculty was aggravated by renewed
approximations over the safety OF the
British columns In South Africa and the
advance In the official discount rate OF
the Bank Of France. Much Importance
seemed to be attached to the latter ac-
tlon as an obstacle to the requirement
Of gold by the Bank OF England. Lon
don's pressure upon Paris was reflected
in a Jump Of four centimes In the sterl-
ing exchange rate NJ Paris. Forced
liquidation on the London Exchange
wna on n large scale and overfOwed to
the New York market. The interna
tionRlIy listed stocks were acutely de-
pressed at the opening and were not
able to make any substantial Roadway
all day. In the last hour there was re-
newed selling OF this group. which
forced down prices all through the
railroad list from y to 5 points, the eN-
IRENE decline being in Northwestern.
The leaalnE specinlties were also at
the low point OF the day in the las.
hour. The bears were active in the
late drive and circulated stories OF n
panic in London on account OF fresh
disaster to the British arms In South
Africa, Buying to cover short con-
tracts caused some sharp rallies, but
they were not well held and the closing
was exceedingly unsettled at substnn-
tial losses. compared with last nights
close. 4 notable feature Of the weak
ness. us was the case yesterday was
the easy rate ruling ut the time for cali
money. After landing at Z per cent In
the morning, loans were being made AT
b 10 y per cent ~ Nl' NllHt NAlNii F'ANN :"
were dropping most rapidly The weak
ness was not so much confined 10 the
speculative industrinls as was the case
Yesterday and II liquidation was being
forced BIZ discrimination as to collater-
ols the standard railroad stocks were
thrown over to obtain funds for the
protection OF holdings Of industrials.
Prices In a number OF important stocks
approached or fell below the low point
OF Monday, and this fact seemed TO in
cline holders 10 renewed selling
Brooklyn Transit was by no means SO
conspicuous as yesterday, but the
denlings werc very large and the huctu-
atlons very wide. II was vigorously
supported in the early dealings, but ap-
parently only for the purpose Of max
inR market for further liquidation.
Support was Forthcoming from time TO
time during the day. which checked the
downward tendency. Sugar was very
errntlc at a level below last night and
feil to within 4 Of Mondays low level.
Metropolitan and Manhattan were
acutcly depressed. the former falling :
points, The New York gas stocks were