The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-07-21
FINANCE AND TRADE.
The Features OF tho Money and Stock
Markets.

NEW YORK. July 20.-Money on cal
steady at 2M04 per cent; last loan 81
per cent. Prime mercantile paper 3l4d
~ per cent. Sterling exchange irregu'
lar, with actual business in bankers
bills at "a s7ls@4 s7R for demand and al
81 S4H94 s4sl for 60 days; posted rates
"a s564 IS and "a ssG4 Ssh; commercial
bills "a 81. Silver certificates sO96lc
Bar silver sOHc. Mexican dollars 4Sc
Government bonds irregular. State
bonds inactive. Railroad bonds irregu'
lar.
To-day's stock market continued mar
row and professional, but there was ar
Improvement in the tone Of speculation
IN the late market rather active buy
ing movement and prices rose to the
top level OF the day gaining a point OF
over as compared with last nights
prices in many cases. There was al
early reaction which was encouraged
by the violent slump of % points in New
York Air Brake and an extreme droT
Of points In Consolidated Gas. There
seemed to be an entire absence OF COM
mission house buying and London, al
though prices OF Americans had beer
advanced therefore refralned from oper-
atlng here. The course Of the foreign
exchange market with reference to the
easier money conditions abroad was
closly watched and when sight sterling
and cables were seen to be yielding II
afforded considerable relief from ap-
prehenslon Of gold exports. The fact
that the Bank of England refrained
from advancing Its rate OF discount was
taken as evidence that the threatened
money stringency is about over at that
point. Money worked easier in New
York but continued above the rates pre-
vailing at interior points. There was
some growth Of a conviction that
money was not to become cheap for q
considerable period yet. owing to the
needs Of the very active trade and the
coming movements of the crop. The
heavy increases OF banking deposits u,
some of the large financial centres Of
the country are understood to be due to
the great combinations OF industries
and the resulting readjustments in bus
mess methods which have, It is be-
lIeved, reduced resources at some
smaller points in degree correspond
ing to the increase at the great cen
tres. There was some continued I'M
easlness over evidences OF unrest
amongst wage earners, also. The
strength Of the local traction stocks
helped to dIsslpate this selling Brook
Ign Rapid Transit and Manhattan gain
ed about a point net and cash sales OF
Metropolitan were made at S& per cent
over last night. This stock also sold
ex-rights Of subscription to new stock
at uniform level of 10 points below the
cash sales. Consolidated Gas recover
ed all of its earlier loss and New Yori
Air Brake all but points. The early
strength was not held in some of the
industrlals, notably Continental To-
bacco and the steel stocks. p, c., c. 6
St. L. was marked up points on tht
June return of earnings and an upward
movement in Chesapeake q Ohio, Mis-
souri, Pacific and Cleveland, Cincinnati
Chicago g. st. Louis spread to Other
railroad stocks, including the grangers
Southwesterns. New York Central
Union Pacific and Atchison preferred
The average gain Of these approx
mated a point. Chicago Greatwesterr
debentures lost l& per cent from the
last sale. Leather preferred was II
good demand. The closing was dull
but firm.
Bonds were very dull and rather ir'
regular. Total sales par value &2,233,'
900.
U. S. coupon and the new Is register
ed declined u per cent, while the IS ad'
vanced Is and the old IS coupon x pei
cent in the bid price.
The total sales of stocks to-day were
| $50. 500 shares.
| s,-Or,tye Avn PAWN oyrO-, 1,fON,e,