The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-03-28
FINANCE AND TRADE.
The Features Of the Money and Stock
Markets.


NEW YORK. March 27.-Close: Mo-
ney on call easier at 9G4 per cent; last
loan 3 per cent. Prime mercantile pa
per 4&G5s per cent. Sterling exchange
firm with actual business in bankers
bills at 81 ssh for demand and at
81 s2%a4 S2ls for sixty days; posted
rates 81 Ssa4 ssia and "a S6kG4 81.
Commercial bills 81 s1k94 50. Silver
certificates 6OhGC1Kc. Bar silver 59bc.
Mexican dollars Axe.
State bonds inactive.
Government bonds Irregular.
Railroad bonds strong.
The stock market continued very ac-
tive and varied, but there was an APP
probable check to the upward move
ment Of prices and distinct falling on
in the volume OF the demand. The dis
position TO realize made itself felt In
additional stocks. AS consequence
the market came to that condition dur
Ing the day which the professional
operators called tired. Its nbsorptive
power was impaired and the weight OF
profit taking proved too much for many
stocks, which have been most promi-
nent in the recent upward movement.
This was consplcuously so OF the
Southern group OF trunk lines, includ-
ing Pennsylvania, Norfolk & Western
and Baltimore & Ohio. The stocks Of
the latter company fuctuated widely
all day and were under very palpable
manipulation. The common and the
preferred stocks were again ostenta-
tiously brought to a parity in the late
dealings. the purpose OF the manoeuvre
was evident from the suggestion set
afoat that II Baltimore & Ohio COM
mon without paying a dividend could
cross the preferred stock, other COM
mon stocks In the same situation might
do likewise. The Pacific stocks had to
absorb a large amount Of realizing and
the southern and southwestern groups
were affected by the same cause. The
bituminOus coal roads also came to a
halt. Other points OF strength develop
ed In the list and the net changes show
large proportion Of gains. The tone
OF the market, however, was by no
means so strong us yesterday and the
transactions were on smaller scale.
The coalers, the high priced industrlals,
the iron and steel stocks and local
fractions all showed evidence of
uous advances in stocks not usually
traded in to any extent. It would be
difficult to assign n clause In any news
Of the day for the check to the ad-
vance. but speculative sentiment ac-
corded more attention to unfavorable
possibilities. even Of n contingent ma
ture. Thus some question was allowed
to rise Of the future Of the money mar
ket, although the present tendency is
all towards greater ease, rates for call
loans dropping TO per cent late In the
day. The banks are gaining cash on
sub-treasury operations and the inter-
Tor continues to remit to New York In
payment OF loans incurred for the pur-
chase OF government bonds, and the
completion Of the payments Of the
premiums on government bonds offered
for conversion will result in renewed
drain into the sub-treasury so long as
the governments revenues continue so
largely In excess of expenditures. A
suggestion OF another drain on re-
sources for government account is con-
talned in the sailing for Manila to-day
for the transport Sumner taking out
81, 300, 900 for the paymasters depart
ment In the Philippines. The fact has
developed regarding London's buying
OF stocks recently in this market that
the funds 10. these operations are due
to loans secured in this money market,
which explains the firmness OF the
sterling exchange market In face OF the
London buying, and the indifference of
the London speculative movement to
the strlngency OF the London money
market London took profits on a
large scale to-day and Its selling Of
stocks about equalled Its buying. A
81, Ny ut ~ M
ings for February was disregarded in
the trading.
The bond marlSe. was not so active
as yesterday. but n large business was
done at advancing prices. Total sales
par value, s. ISL, 900.
United States IS registered advanced
" and do coupon and new Is Y per
cent In the bid price. The old rs de-
clined Y and the 5s Z per cent.