The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-11-04
F1EANcE AND TRADE.
The features Of the Money and stoe
lfnrkAta.

The FEATURES Of the Money and Stock
Markets,
NEW YORK. Nov, a.-Money on call
firm at SOS per cent: last loan 8 per
cent Prime mercantile paper 5si@s5t
per cent. Sterling exchange frm, with
actual business in bankera' bills At
a ssN9l 81 for demand and at 8 $40
4 SsH for 50 days; posted rates q q and
s. IS: commercial bills "a s9h. Silver
certificates SEG59A. Bar silver sshc.
Mexican dollar axe. Government
bonds strong. State bonds inactive.
Railroad bonds easier.
The opening dealings IN the stock
market were very animated and the
course of prices wac upward, Con-
tinued activity by the various pools was
apparent in the stocks. which have ad-
vanced within the last few days. Heavy
realizing was In evidence at very
early period In the trading, and the
snap was soon taken out Of the upward
movement. The volume OF the selling
was much reduced below the best
prices, but the demand also fell OF and
support seemd to be Withdrawn from
the manipulated specIalties. The course
Of prices was generally downward for
the rest Of the day. One or two efforts
were made to check the decline but
without great effect. The bears made
no great demonstration until the hnal
hour, when prices touched the low
point OF the day. Covering by the
shorts rallied prices but they were not
well held and the closing was rather
irregular and very dull. The general
level Of prices is lower on the day, but
there are few exceptions. United
States Leather continued conspicuous
figure in the speculation and was rush.
ed up an extreme 5N points to ssN and
closed & per cent below that. The pre-
ferred stock parted company with its
junior after rise of nearly point
and was decidedly weak for the rest of
the day, declining an extreme So per
cent. with final rally of y per cent.
Dealings lr Southern Pacific continued
on a very large scale. but the stock at
no time rose more than y per cent
above last nights level. Sugar drop
ped a point, rallied 2 points. and fell
again below last nights level. Man
haitian. on the contrary, rose over a
point but fell again to III and rallied
but feebly. Standard Rope opened up
81 per cent and then turned downward
an extreme az per cent. Brooklyn
Transit also developed weakness carly
in the day and went below 50 at one
the. In the first FIVE minutes of trad
ing over 1900 shares Of Chesapeake &
Ohio came on the market, with only a
slight Impression on the price. These
examples indicate the prevalent dIspo-
sltIon to take profits for the long &c
count. The majority of railroad stocks
was sIngularly neglected with the ex-
ception of some early demand for
southwesterns which gave way in the
late weakness. During the first two
hours of trading there were but two
transactions recorded in st, Paul. There
was some selling for London account.
but 1t was well absorbed during the
early period of strength in this market.
The reactlonary tendency was due to
the growing apprehension of an unfav-
orable bank statemen. tomorrow.
Money was not stringent but was firm
at G to 8 per cent, The banks have lost
on sub-treasury operations some 81
6S1 900 after allowing for receipts Of 81.
100000 in gold and government inter-
est payments and including 100000 de.
posted at the sub-treasury for trans
fer to the Interior According to state
ments compiled by the leading banks
they have made net shipments to the
interior by express OF nearly 100000.
This would indicate net loss to the
banks in cash of over $4,6oO,OOo. The
clearing house institutions have called
loans on IA large scale during the week
so that this loss In cash is onset in part
at least. Last Saturdays statement
was believed to have made more fay
orable showing than was warranted
by the actual condition Of the banks
and the vagnrIes of the average system
may throw some of the uutavorable
factors over into this weeks statement.
Bonds, after some early show OF
strength yielded In sympathy with
stocks. Total sales par value S9,SSo,OoO'
United states Is advanced 4 per cent
the IS z and the new Is y per cent in
the bid price.