The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-01-05
rrrANcR AND TRADE.
The Features Of the Money and Stock
Markets.

The Features Of the Money and Stock
Markets.
NEW YORK. Jan. 4.-MOney on call
steady at sos per cent; last loan 5 per
cent. Prime mercantile paper 9 per
cent. Sterling exchange arm. with ac-
tuaI business in bankers bills at
81 s7&@4 "a for demand and at 81 s2&@
1 s. for sixty days; posted rates 81 sSh
and a ssh. Commercial. bills 81 Slh@
4 s2p. Silver certificates 5st@5slte.
Bar silver 5sHc. Mexican dollars 47iic.
Government bonds strong.
State bonds inactive.
Railroad bonds firm.
The most conspicuous figure Of the
days trading in stocks was the contin-
ued heavy selling for foreign account,
about which there was considerable
mystery. The orders to sell In New
York came from London, but London
attributed them to Berlin account.
Vienna also reported sales on Its ex-
change for Berlin account. In spite Of
the explanation that the Berlin selling
was forced by money stringency the
Berlin discount rate showed a rise Of
only * per cent In Berlin itself the
depression was attributed to the decline
in English consols and to the capture
by the British of the German steamer
General. While the motive OF the for
eign selling was obscure and explaDa
tons confused, the fact of 1t was be-
yond doubt. Sales by the arbltrage
houses in New York again footed up
$1,000 shares Of the various internation-
al stocks. There is undoubtedly some
uneaslness in financial circles abroad
over the possibility Of friction between
Germany and Britain over the seizure
OF German vessels. 1t is worthy of
note that while Interest rates declined
in London and the Bank of England
showed notable recuperptIon in re-
sources in its weekly statement, ster-
ling exchange at the important fnan-
clal centres advanced sharply. in spite
of the hardening money rate In Ber-
LIN and Paris. The New York sterling
exchange rate advanced at the same
time. without Affecting the local money
market, in which the rates ruled from
I'VE to six per cent. The inference is
warranted that London is preparing to
make further regulations for foreign
gold supply and that her money mar
ket will have to meet demands for
coming government loans In our own
stock market the considerable offerings
for foreign account drove prices down
at the opening near point in the
principal international stocks. The
level Of prices thus attained, coming
after yesterdays sharp reaction, proved
90 inviting that large and substantial
buying appeared which forced a recov-
cry in prices by the end Of the first
hour. Later New York Central was bid
up sharply to 1877 and the short inter-
est in Sugar was driven to rout by stor-
les Of a settlement Of the trade war.
Yesterdays reactlonary market induce
ed quite an enlargement of the short
interest and their demand to cover was
an important element in the days re.
covery in prices. The speclaltIes
showed wider changes than railroad
stocks. but the demand for railways
was long and well distributed and OK.
cept for the special strength of the
trunk lines, their gains were quite uni.
form. A movement to take profits In
the last hour caused material reac-
ton. reaching to over three points in
some of the lndustrIaiB and between
one and two points in many railroads.
Dealings in bonds were not large
and the market was Irregular. Total
sales par value, S1.755,0OO. United
States new IS coupon advanced y; do
registered old IS and 60 x, and the new
Is coupon * per cent in the bid price.
o, s. Bonds.