The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-09-15
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.


NEW YORK. Sept. 14.-Moncy on
call easy at 1H01M per cent. Prime
mercantile paper 4a5 per cent. Sterl-
ing exchange steadler, with actual basl-
ness in bankers bills at 81 SG9s for de-
mand and at s. S3h for sixty days;
posted rates 81 s6is and 81 S7,HG4 IS.
Commercial bills 81 s2A,sG4 SO. Silver
certificates 62I G63&c. Bar silver 62%c.
Mexican dollars 4SIc.
Government bonds strong.
State bonds Inactive.
Railroad bonds irregular.
The stock market took on n much
more decided. tone to-day. Indications
Of liquidation gathered force and In
the late dealings the professional trad
ers fell upon the market and offered
prices down all around the room. They
met with considerable success In
bringing out offerings ut the decline,
and when they covered on n moderate
scale the rallies were SO feeble that
they renewed the attack. making the
close OF the market quite active and
easy. The coalers were the most no.
table sufferers. though not on the lar
gest volume of selling in the list. New
Jersey Central fell az points and Lack
awanra and Reading first preferred
lost over L point each. But the weak
ness was quite general and well dis
tributed through the list, railroads and
irdustrials suffering alike. Sugar enjoy
ed a period of strength. but closed
point below last night. The steel stocks
were generally heavy and number OF
them were off point or over. The
local traction group, Union Bag prefer
red, Atchison preferred, Missouri Pa
citic, Southern Pacific, Burlington.
Louisville. Baltimore & Ohio, Kansas s;
Texas preferred and Northern Pacific
preferred, were down from l TO 11s
Growing uneasiness over the effects OF
the coal miners strike and fears OF
higher money rates combined to cause
the reaction. Wall street has INDUCED
u comfortable assumption that the
dispute with the anthracite coal miners
was to be settled before the curtail-
ment Of production proceeds far, but to-
wards noon those miners whose supply
OF powder was exhausted were laying
down their tools without buying fresh
supplies, dispelled much of the optimis-
tic feeling. The financial world seemed
to awake generally today to the reali-
zat!on that the cautious conservatism
displayed by the worlds great banks
London discounts hardened sharply and
stocks were sold In New York for Lon
don account, the sterling exchange rate
recovering fraction. The official an
York bankers 10 the German treasury
bond Issue Of SO,O0O0OO marks ($20.GtO,-
OO0) emphasized the uneasiHcss OF the
effect OF this new demand upon the
money market. The forecasts OF the
weekly bank statement shows that the
banks have lost to the sub-treasury
since last Friday $l.llS, O0O Estimates
OF the currency movement TO the inter-
Tor are confessedly conjectural. but the
known movements OF money by express
according TO statements by the banks
themselves indicate that over $G,0OO.GO0
has gone ont. This indicates n total
loss In cash by the banks OF about
&,O00.QO0. Tie changes in the loan item
are obscure, but II the German loan op-
Grafton figures In the statement large
increase In the loan item and cor
responding expansion OF reserve re-
qntremeuts Is 70 be counted In addition
to the loss in cash In estimating The
shrlnkagc Of the surplus. This rapid
rate OF inrocl upon the available bank
reserve prccIpitated the selling of
stocks. Possibly the reaction In the
coal market was also responsible for
throwing some securities upon the mar
kct.
The bond market did net share In the
late activity of stocks and continued
practically dormant, Total sales par
value. sSiJ.COO.
United States Is advanced u and the
IS 4 per cent IN the bid price.