Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-04-07


New York, April 6.-Comme Ad-
yertiser's London financial cablegram'
The markets here were extremely luie
to-day and the tone was dull. Inc
American market was merely nominal
1t opened at parity and then improved
a trifle. New York bought sngntiy' put
the close was reactionary.
New York, April 6-Money on call
firm at S@12 per cent; last loan per
cent
Prime mercantile paper 31a@4A per
cent.
Sterling exchange steady, with actual
business in bankers bills at $4.ooAW
1861 for demand, and at S4.S4AW
4.S41s for sixty days; posted rates S4.oo
@4S5h and $4S7@4.S7R.
Commercial bills $4.S 1a@4.S3A.
Silver certificates 60@6O1ac.
Bar silver $3.50.
Mexican dollars 471sc.
T. s new ACKNOWLEDGEMENTS S
u. S. new is registered. .1Z9ss gl2gzs
n 4s| - ll24al12as
u. s. IS coupons. ..........-.....'' 10 aS,l 4iif
u S. As 2os. , 9912
u. S. IS registered. .IiiSSf1491iiit
-
Government bonds strong.
State bonds easier.
Railroad bonds weak.
Stocks-Stock prices slumped badly
to-day and closed active and weak at
about the lowest. Crop advices were
unfavorable, and these were given color
by the advance in wheat, but the prin-
cipal cause for the shaking Of conf
dence was a renewal of stringency in
the call money market. Discrimina-
ton in loans in certain industrials and
specialtie5 made some brokers disin
clined to carry marginal accounts for
some Of these properties. This attitude
was taken advantage of by the bear
contingent and promiscuous selling of
the general speciality group followed.
Among the more conspicuous extreme
breaks were Brooklyn Transit 10;
Metropolitan 81; Manhattan III; Con-
solidated Gas and American Steel Z
each; Federal Steel and Tobacco about
each, and many others in the group
from to 4. Some Of these stocks clos
ed above the lowest, Brooklyn Transit,
Manhattan and Consolidated Gas being
conspicuous. The declines in the more
active railways Appropriated points.
L
ably having liquidated, seemed apathet-
dc in stemming the downward course of
properties with which they are identi
fled. There were occasional rallies ap-
parently only to afford a new level
from which to let go stocks. The re-
cent continued advance in many stocks
which eliminated much short interests
made the decline rapid, as there was no
x-,ty WI from
this quarter. Many stop loss orders
were uncovered, thus accelerating the
decline London easily purchased
about as much as it sold yesterday, but
the market then followed local quota
tons so nearly that arbitrage business
ceased. 80
There was much money borrowed
early on call around and per cent.
on railways, but 2 per cent. or more in
addition was exacted on industrial col
lateral and II per cent. for call loans
was reached at times during the day.
Before the close money was offered
down from to per cent on railroad
collateral after the requirements for
money had been met, but later loans
were made at 6 per cent. The contin-
ued high rates for money has not
brought as much money from outside
points as expected. Boston, however,
loaned some money in New York to-
day The demand for money for in
terest and dividend payment, together
with the recurrent necessity Of financ-
ing industrial companies, were assigned
as the reason for the present scarcity
of funds.
Heavy offerings of the active issues
11naro n, in tha bond market tO-69N
considered with the decline of stocks.
Total sales, $2,790,000.
United States IS advanced 4 and the
IS and new Is "a in the bid price
The total sales of stocks to-day were
Q70 400 rnnrcr Qrnt tinntS closed hid