The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-12-16
FINANCE AND TRADE.
The Features Of the Money and Stock
Markets.


NEW YORK, Dec. 15.-Money on call
steady at 5Q6 per cent; last loan per
cent. Prime mercantile paper 6h96
per cent. Sterling exchange easier,
with actual business in bankers bills at
81 S71kG4 S7s& for demand and at
81 S1I5I4 Sl& for sixty days: posted
rates 81 S21s and 81 SSi5. Commercial
bills "a 81. Silver certificates 6s9598c.
Bar silver 59iSc. Mexican. dollars 4715c.
Government bonds irregular.
State bonds inactive.
Railroad bonds inactive.
The strength manifested by the
stock market in face Of the engage
ments of gold for export by to-mor-
rows steamer was the feature Of the
day. There was considerable heslta-
ton and some reaction In the early
dealings on the recurrence of fears
over the effects OF gold shipments. Yes
terdays recovery In stocks, II Will be
remembered, was based on the hopes
that gold exports had been Rverted for
the time being, The fact that appre-
hensIon over this development was still
apparent this morning made the strong
advance in prices in the very face Of
the news OF gold exports all the more
striking. The sterling exchange rate
to-day not only failed to recover, but
declined an additional fraction to
81 S7Iz for demand. The shipment OF
gold at this level for exchange demon
strates that some considerable advant-
nEe is offered by the Bank Of Egland as
an lnducement for the shipment. It Is
known, in fact, that the English insti-
tuition allows interest to tho shippers
for the period Of the transit. 1t has
also advanced the buying price Of gold
both for American eagles and for bar
gold. For the former the price has
been advanced one penny an ounce In
two days The transaction may there
fore be regarded In certain sense a
special one. Whether 1t was for this
reason that the local stock marker took
small account OF the beginning Of the
export movement is subject for SUR
misc. Reported engagement OF $780,
900 in gold for export caused no stiff
fleming Of the local money rate which
ruled from TO per cent all day, The
Incidents Of the day which served to
offset the gold exports were several. In
the first place tho conviction that to-
morrow's bank statement would make
a strong showing. There were losses
TO the sub-treRsury which foot
up $4,73o,0OO. which have been
so far Offset by the receipts
of currency in the interior and OF gold
from Canada that the banks net loss at
cash is figured at less than 3l,l00,O00
To-morrow's gold shipments OF course
do not figure. The weeks extensive IL
Ouldatlon in the stock market with Its
Conecquent reductions In loans is GER
tain to have more than offset this COM
pnrauvely slight decrcnse In cash. A
rise In the surplus reserves of the
banks Ia therefore believed TO be well
insured The arrival from Cuba of n
United States transport brings an nd
dition to the available supply OF specie
OF Sl,260.0OO assigned to n trust COM
pnny, and OF over 100000 OF postoIiice
funds The absence of disturbance IN
the local money market by the With
drawnls OF gold and the favorable eff
feet produced on the London market
arouse hope that the operation may
prove beneficial to the financial world
at large in sufficient degree to onset To-
cnl Inconvenience. A favorable cnect
was produced on the stock market here
by the buOynnt tone in the Boston mar
kct. arguing II satisfactory settlement
of the difficulties threatening that mar
ket. Substantial gains In price
throughout the stock list IRE the net re-
suits OF the days trading. A late nd
vance OF 1884 In the price of Pittsburgh,
Cincinnati, Chicago & st. Louis, WINS a
feature OF the day.
Price changes In bonds were some
what irregular and were for the most
part narrow. Total sales par value,
81, s05.OOO
United States IN declined Y. and tho
IS advanced y per cent in the bid price.