The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-03-09
FINANCE AND TRADE.
The Features Of the Money and Stock
Markets.

Ing 6ehGuEeS VI Ln0 G4VnSy oA3 9bSSA
Markets.
NEW YORK, March S.-close: Money
on call steady at 29Sh per cent; last
loan per cent. Prime mercantile
paper 4M@5M per cent. Sterling ex-
change firm, with actual business in
bankers bills at 81 Ss1s for demand and
at "a s2K94 s2A for 60 days; posted
rates 81 ssa04s "a and 81 s794 s7ss; COM
mercIal bills 81 s1ls94 SO. Silver certt-
fcates eOA@61c, Bar silver 5s%c. Mex
lean dollars 4TEc. Government bonds
weak. State bonds strong. Railroad
bonds firm.
The market was practically relieved
to-day of all disturbing factors In the
way of acute weakness of special
stocks. Reports all continued favorable
regarding the outlook for values, but
the demand for stocks was almost un-
appreciable. Even the small buying for
investment, based on large earnings Of
railroads which has been In evidence
for some time past, dropped out Of sight
to-day. Spectators are refraInIng en-
tirely from commitments for the ad-
vance. On the other hand the bear
operators Of any considerable callbre
seemed to become discouraged by the
futilIty OF their efforts and the culmina-
ton of events counted upon for reac-
ton. They made some demonstration
against Peoples Gas, Consolidated Gas
and Metropolitan Street Railway, but
no effect was produced on the general
market. The room traders labored in
vain to set the sluggish tide of prices in
mutton. In many stocks. the price
changes were scarcely sumcIent to
cover a brokers commission and the
inertness Of the market increased In
proportion to the distance from last
nights level, the tendency being to
come back to that level from either be-
low or above 1t. The iron and steel
stocks were generally firm on the en-
couraging opinions expressed by au-
thoritIes in the trade. The malnten-
ance Of the st. Paul dividend at the ex-
listing rate found no response in the
market, as It has been fully foreahad-
owed by the large absorption Of gross
earnings in operating expenses. The
reported agreement Of western railroad
presidents on recommendations design
ed to harmonic differences over
freIghts, tho determination to advance
bltuminous coal rates to the lakes and
additional gains reported in railroad
earnings were all without effect on
prices. The published report Of q pro-
posed increase in the next dividend on
the preferred stock of Pittsburgh, Gin
clnnatl, Chicago & st. Louis WINS met
by a drop in that stock Of 81 points.
Rio Grande & Western was notable for
a jump OF nearly 8 points. There was
continued debate and apprehension over
the capacity Of the money market to get
through without pinch to the p.riod
OF relief Ivy the operation Of the cur
rency bill when the possibility was can.
vassed Of action by the trade to resume
the deposit Of internal revenue collec-
tons with the banks, but no authorita-
tive sanction was given for such posi-
billy. Tho absorption OF funds by the
New York rub-treasury since last Fri
day had already reached t5.tSl,OOO up to
the close Of business last night. The
total revenue surplus taken up by the
government since the Hrst Of the month
up 70 tho came date amounted to only
32,OSs,2l6. The special drain thus indi-
Gated upon tho New York banks 10 due
70 the large customs payments by i'm
portera. Imports at present are rum
ming very high as an incident of the
active demand for commodities and the
payment. OF the duties is diverted from
the New York banks into the sub.
treasury. The demand for loans for
purchase of government bonds con-