The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-12-28
FINANCE AND TRADE.
The Features Of the Money and Stock
Markets.

/
NEW YORK, Dec. 27.-Money on call
steady at 49s per cent; last loan ~
per cent. Prime mercantile paper per
cent. Sterling exchange firm, with &C.
tual business in bankers bills at
81 S7HS4 s7M for demand and at $3.50
4 SIX for sixty days; posted rates
81 s204 S2Hs and 81 sSh. Commercial
bills 81 sO@4 81! Silver certificates
6SA @5sHc. Bar silver 6sSa. Mexican
dollars exc.
Government bonds weak
State bonds inactive.
Railroad bonds strong.
The market for securities showed the
effect Of the great relief felt by the
dissipation Of several factors Of 'aP-
prehensIon and prices mounted upward
with increasing buoyancy as the day
progressed. The market closed with a
burst of animation and strength at the
top level Of the day. Net gains in
number Of important railroads reached
three points with long list Of ad-
vances a point or better. Among the
industrials and specialties gains were
even more striking, quite a number
having advanced from to 10 points, as
a result of the days trading.
Demand from5a an outstanding short
interest to cover accumulated the
strength Of the latter group, those
which have recently suffered most
showing the greatest benefit from the
days business. Brooklyn Transit was
almost a solitary exception and was
subject to vigorous attacks all day in
an effort to unsettle the market and
check the advance. But this stock, al
though 1t ranged over more than four
points, closed with net loss of only a
point. The leading influence in the
Improvement of sentiment was the
quiet and orderly manner in which the
periodical settlement on the London
stock exchange proceeded. Since the
last settlement on that exchange Great
Britain has suffered three notable re-
verses to It's arms in South Africa, its
three columns Of invasion have been
paralyzed, and as a result alarm
spread through the financial centers Of
the whole world. Grave fears were
felt that the resulting shrinkage in
values would prevent many operators
on the London exchange from meeting
their engagements at the current set
Element. The news this morning that
no acute difficulties had developed; that
money conditions were easy and prices
Inclined to advance rather than to de-
cline, brought immense relief, which
was promptly reflected at the opening
here in an advance all along the line.
The only notable check came with the
news Of the failure Of Boston stock
exchange house but this influence was
only temporary and slight. The con-
dltlon in the money market was no.
tably easy and one OF the largest indi-
vIdual money lenders in the street made
large loans to carry over until next
Tuesday ut the rate of s per cent, The
current rate ruled from to per cent
The close OF the year is universally ex-
nected to terminate the period of Sc
we're strlngency and to be followed by
relaxation, owing to disbursements oil
dividends and Interest, which will be
on an unprecedented scale There was
some discussion of the probable amount
of gold exports on Saturday. These
are not now expected to be large, ow-
ing 10 the easier conditions in the
London money market The buying to
cover short contracts, although 1t was
a considerable element in the advance
was itself induced by the very substan-
t,oI character OF the buying for long
account and the manifestly small sup
pIy OF floating stocks. Tho trading did
not take on any great animation until
near the close and the individual trans
actions were not on a large scale. In
fact the number OF lots traded In was
feature OF the day and reflected the in
yestment demand by buyers who take
stocks out of the market to lock up
and keep.
investment buying was In evidence
also in. the bond market, wherever the
fail in prices had offered opportunity
TO secure fair return on money invest
cd, The bond market was active and
strong throughout, Total sales par
value, s2.S2OOoO.
United states new 4s declined 4 per
cent in the bid price.
The governing committee OF the New
York stock exchange refused to grant
the petition OF the members to close the
exchange on Saturday, December 80.