The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-07-28
FINANCE AND TRADE.
The Features of the Money ana Stock
Markets.

steady at 3ls@4 per cent; last loan at
per cent. Prime mercantile paper $40
~ per cent. Sterling exchange easier
with actual business in bankers bills
at 81 S7H64 s7ls for demand and at
81 s3I@4 "a for 60 days. Posted rates
81 s5@4 ssh and 81 Ss64 ssM; CONNER
cIal bills 81 1894 ssh. Silver certificates
sO%@s1c. Bar silver soNc. Mexican
dollars 4sc. Government bonds weak.
State bonds Inactive. Railroad bonds
weak.
The stock market continued narrow
and professional to-day until the last,
when there developed more animation
and strength than had been noted for
many days past. The late movement
seemed to start with strength stimuli
taneously displayed by Lake Erie &
Western, Pittsburgh, Cincinnati, Chi
cago & st. Louis, and Pittsburgh &
Western preferred. These stocks gain
ed from ~ for Lake Erie & Western to
4 points for p. c., c. & St. L. The
marking up OF Sugar an extreme 2A
per cent and the rise In New York Cen
trial to 14O helped on the movement and
the. general market above last nights
level.
quite an active demand sprang
up for grangers and lifted Burlington
over point. The activity of the mar
ket did not become general however.
and gains were not at all uniform. The
traders were bearIsh in the early part
Of the day, but finding the prices resist
ing pressure. they turned to the long
side, encouraged by the strength of
special stocks The movement In Rock
Island and the Southwestern stocks
showed some dImlnuItion under profit
taking but Kansas & Texas preferred
retained its strength and advanced over
a point. Sugar also showed an advance
ing tendency from the first and Louis
vile & Nashville. which sold ex-dtvi-
dend of per cent. regafned 1% per cent
OF that amount. There was a midday
advance in the Tobacco stocks which
helped on the upward movement, Con-
tinental common rising ~. the prefer
red 3 and American Tobacco a point.
The mailing stocks recovered smartly
from yesterdays prices and Laclede
Gas jumped SlE points. The develop
ments in the money market beget In
creased confidence. Yesterday and to-
day there have been large loans made
on time on the stock exchange, from
which It is argued that operators feel
the possibility Of a demand for money
that may stifIen call rates and desire
time loans on the securities they are
trying to hold for long pull. The fact
that the Bank OF England did not in
crease It's discount rate to-day served
TO lessen anxiety on the money ques-
ton and the weekly exhibit OF that in
stltutlon showed that the open market
had been able to reduce its loan obliga-
tons to the bank very heavily. The
sharp fall in French rentes and reports
OF a political crisis in that country
were without effect In New York. The
money here was somewhat relieved by
the transfer of funds from the sub
treasury to the banks on the payment
for the new custom house site in New
York and 1t became known that the
government has ceased for the time be-
ing its weekly withdrawal OF reports
from the New York banks which have
been at the rate OF 81 100000 week for
some time past Statements of net
earnings completing the fiscal year for
a number OF deposits from the New
York banks which have been at the
rate of 100000 a week for some time
past. June statements of net earnings
completing the fiscal year for number
OF railroads were favorable factors es-
pecially that OF St. Paul showing an in
crease in the net for the year OF $685.
69S The bond market did not show
much response to the strength In stocks
and fractional declines We're the rule.
Total sales par value $l,6lO,OO0,
U. S. new IS registered declined 4
per cent and the old As registered and
IS registered u per cent in the bid
price.