The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-11-02
F1NANoE AVID TRApE.
The Features Of the Money and Stock
Markets.

Markets.
NEW YORK, Nov. 1.-Money on call
firm at 562O per cent; last loan at 8
per cent. ruling rate 90 per cent. Prime
mercantile paper 5@5R per cent ster-
ling exchange firm, with actual bust
ness in bankers bills at "a Ss% for de-
mnnd and at 81 S2%a4 So for 60 days
posted rates "a "a and 81 s.; commercial
bills 81 So. silver certificates $40
59lkc. Bar silver 5shc. Mexican dol
lars 47Kc. Government bonds strong,
State bonds inactive. Railroad bonds
Irregular.
To-day's stock market developed a
decidedly spotty character. The rail-
roads fell into the background again
and the highly speculative IndustrIn!s
were brought forward into activity. An
effort was made to continue the cam.
palgn against the shorts in the iron
and steel stocks but their prices in this
group brought out such large sales that
the efforts 70 advance prices had to be
abandoned The whole group with the
exception OF Tennessee Coal shows net
losses. The latter stock after dropping
to 1851 rose strongly to ll9 and held
there When the movement in the iron
and steel stocks proved abortIve the
bulls turned their attention to Brook.
Ign Transit, which was frvorite in
speculation for the rest OF the day. The
movement in this stock was again d.
rected against the very heavy short In
terest believed TO exist in 1t ana the
rapid advance Induced large coverings.
When the rise had extended to above
90, enormous blocks were brought out
which made 1t difficult to sustain the
price. The stock rose to 9Ois, yielded a
point. rallied again and again yielded
small fraction. The New York Trac-
ton group was strong In sympathy,
The leather stocks were also taken up
for further aggressive advance the
common touching 20 and the preferred
S3k. Sugar was active and irregular.
but shows net gain. The Tobacco
stocks were weak early, but rallied
later. There were isolated movements
in Missouri. Kansas & Texas, Cleve-
land, Cincinnati. Chicago & St. Louis
preferred, the Pacific coast stocks. Wis
consin Central New York Air Brake
and Standard Rope, which We're all
strong. Mating preferred dropped
points. Otherwise the trading was not
very active and the movement OF prices
was narrow net changes being small
and mixed. owing to the holiday In
London, pressure from that point was
relaxed The cali money market work.
cd appreclably easier during the after.
noon after having ruled at Is to 20 per
cent. Large amounts were loaned at
per cent before the close and the rate
fell to s per cent. The easier rate for
money did not induce any large ven
lures on the long side in stocks, but tho
bears were nnnItestly uneasy and an-
xlous to cover short lines before the
atFIngency In money relaxes.
Tdldny's advance in sterling ex-
change is believed to be evidence of a
renl rclaxation In the money strinEency
and New York exchange at Chicago
and st. Louis was strong to-day, show
Ing a cessation of pressure from those
points. Al Boston, on the contrary,
there was a sharp decline In New York
exchange. Money continues to move to
the south from New York and the sub
trepsary Is making drafts on the local
hanks.
Tho bond market was quiet aside
from All active demand for Standard