The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-08-30
FINANCE AND TRADE.
The Features of tho Money and Stock
Markets.

The Features Of tho Money and Stock
Markets.
NEW YORK, August 2o.-Money on
call steady at per cent. Prime mer-
camille paper 4K95 per cent. Sterling
exchange easier, with actual business
in bankers bills at 81 S6N94 ssh for
demand and at 81 83H94 say for sixty
days; posted rates 81 81 and 81 SIN.
Commercial bills "a s2li. Silver certIh-
Gates 59k66Oc. Bar silver ssh. Mexl-
can dollars 47Bc.
Government bonds steady.
State bonds firm.
Railroad bonds Irregular.
Prices in many prominent railroad
stocks show losses of 81 per share and
upwards as result Of the days trad
ing. There was disposition In the
early hours Of the day to contest the
decline and the effort was assisted by
several strong features in the list, but
the persistent heavlness Of railroad
stocks and the manifest exhaustion OF
the buying demand discouraged the
bulls and turned the scale in favor Of
the bears. Stocks in which manlpula-
ton by pools has been recently evident,
showed q conspicuous lack of support.
Conspicuous In this class were Louis
Vile & Nashville, Northern Pacific,
Atchison preferred, Baltimore & Ohio,
and Norfolk & Western Several OF the
minor stocks which have been under
recent manipulation also suffered Sc
verely. Some opposition to the early
heavlness resulted from the active de-
mnnd for the Republic Steel stocks on
the strength Of yesterdays declaration
Of q dividend on the preferred stock
and semi-ofEicial intimations Of very
large earnings available for the COM
mon. Common advanced at one time
~ and the preferred 1 per cent. Steel
and Wire was also marked up on pre-
dictions that the listing committee OF
the stock exchange were disposed to
admit It to the listed department These
two factors impaired firmness to the
iron and steel group with the exception
Of Tennessee Coal and Colorado Fuel.
In the railroad list the Chicago Great
western stocks showed continued
strength. the preferred 3 rising four
points. There was good demand for
Kansas & Texas preferred, and gains
were shown by Wheeling & Lake Erie
and Hooking Valley. In the local trac-
ton stocks Brooklyn Transit was lift
ed quite agEresslVely and Metropolitan
Street Railway and Manhattan showed
sympathy. There came a covering
movement In Tobacco after a sharp fall
and Sugar showed strength from the
same cause. But these elements of
strength we're quite insufficient TO In
duce renewal Of buying In the general
list on any large scale and prices con-
tInued TO drift away under dFIbbllRg Of
ferIngs. The declaration of n per
cent seml-hnnual dividend on Union
Pacific preferred stlffened that stock
and caused mOmentary check to the
downward movement but when the
bears perceived the continued ,heavi-
moss they attacked the market in the
late dealings. making the closing nc
tive md weak at about the lowest. The
few earlier gains were mostly wiped out
those remaining being largely reduced.
The weakness on foreign stock mar
kets on account OF the acuteRess Of
the Trausvaal crisis was nm influential
factor in the days weakness. London's
sales here were estimated Ht 10000
shares covering the entire list Of inter-
national stocks. The fall Of fraction
in the actunl rates for sterling ex-
change in face u this liquidation from
London caused renewed uneHslness
over the local money situation OF which
Il was n reflection. Rates for time
money were npprecinbly firmer and no
call loans were made below 3 per cent
The bond market was rather quiet
and price changes were Irregular. To-
tai sales par value. u.SiOOOO.
United States bonds were unchanged
on bid quotations.