The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-11-28
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.

The Features OF the Money ana STOCK
Markets.
NEW YORK. Nov. 27.-Money on call
steady at 5AGs per cent; last loan per
cent. Prime mercantile paper 5A@6
per cent. Sterling exchange firm, with
actual business In bankers bills at
81 1904 S6N for demand and at 81 $40
4 SlA for 60 days; posted rates 81 SEQ
4 S2Is and 81 81; commercial bills 81 so.
silver certificates 5ST @59Rc. Bar sill
yer 5S%c. Mexican dollars 47Nc. Gov
eminent bonds irregular State bonds
inactive. Railroad bonds strong.
People who bought stocks on Thurs
day and Friday found the expected
market for them this morning and
awaited themselves of the opportunity to
sell out to a large extent. The sub
treasury operations last week made 1t
sutnclentIy obvious that u strong bank
statement would be forthcoming on
Saturday, and the new strength in the
market on account OF Saturdays bank
statement had therefore been discount
ed. Prices were opened high and the
advance in Americans in London had
the appearance OF being manipulated
from New York for the sake OF Effau-
ence on the opening here. At all events
the London market was depressed gem
orally on the rise in the money rate and
sold stocks here from the opening until
long past the usual hour for cabling.
Pennsylvania was an exception and
was eagerly bought by London. This
demand was largely responsible for the
stocks rise OF AZ per cent over Friday.
during the first hour. 1t subsequently
reacted and saved only 2A per cent of
net gain. The high prices at the open
Ing were the signal for very extensive
realizing, which was most marked in
the Baltimore & Ohio issues. The OPEN
ing price in the preferred ranged all the
way from So down to SsS There were
occasional rallies In these stocks, but
the pressure of profit taking was re-
newed and their close was near the low
est at net losses OF IL and 1Fs per cent
respectively. Union Pacific showed the
eject OF profit taking and Sugar was
obviously weak from the start on the
street. These were sufficiently power
full factors to decide the general course
Of the market. The heaviness became
quite widely disseminated, as the day
progressed, and many net losses OF a
point or over will be observed. While
the general course OF the market was
reactlonary, some points OF strength
persisted. Manhattan, Federal Steel,
American Hoop. Chesapeake 6 Ohio
and Peoria, Decatur & Evansville rose
from TO . points without maintaining
the full advance. Leather continued
very erratic over range of w points
below Fridays close. The Ante break
in Sugar to 1854 and the St Paul state
ment for October showing decrease In
net earnings of nearly $4,000 empha-
sized the late weakness. st. Paul's in
creased operating expenses or improve
ments charged to that account have not
wiped out all Of the increase in the
gross earnings since July and astab-.
IIshed a. net decrease for that period of
nearly 100000. The condition o: the
money market was not greatly affected
by the Improved showing Of the banks
in Saturdays statement. The fact was
pointed out that while the statement OF
all the clearing house banks showed a
1,r,,.., IL, lame or 90 tp5 snO and nm In.