The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-05-15
FINANCE AND TRADE.
The Features of the Money and Stock
.-.-. Markets.


Markets.
NEW YORK, May 14-Money on call
steady at gS2A per cent; last loan 2
per cent. Prime mercantile paper 3%@
Az per cent. Sterling exchange lrregu-
lar, with actual business in bankers
bills at 81 SSm@4 SSh for demand and at
81 S4EG4 S47s for 60 days; posted rates
"a S5h and "a Ss94 S91A. Commercial
bills 81 sF@s S4h. Silver certificates 90
G6OIAc. Bar silver Coo. Mexican dollars
47lsc. Government bonds weak. State
bonds firm. Railroad bonds irregular.
The price movement in the stock mar
ket was extremely irregular and uncer-
tain all day. The last prices of the ma
jority OF stocks were higher than at
Saturdays close. but the best prices Of
the day were nowhere maintained anu
there were wide inroads made in some
OF the lndustrials and specIaltles. The
professional traders were inclined 10
take very bearish view, and came
down to the street this morning pre-
pared to sell the whole list. They were
not deferred by the evidences o!
strength in the London market which
were due to the progress OF General
Roberts campaign and to the easier
money conditions. While selling tho
general list the traders made fierce
raids upon the speclalties. Sugar, Met
ropolltan, Peoples Gas and Brooklyn
Transit were all subjected to attack
and yielded from l to points. The
bears found, however, that the heavy
offerings to lIQuidate which were a fea-
ture Of last weeks market were not
forthcoming and they also found them
selves IN n numerous company anxious
for stocks to cover short contracts. By
bidding against each other this COM
pany effected a material rally in prices.
They THEN paused in some discourage
ment and confusion, Some rather posi-
tive evidences of strength at different
points added q. their difficulties.
7 There was large buying of Burlington
all day at an extreme advance of over
. points on renewed rumors that plan
had been perfected to refund the con-
sol bonds Of 1908. The movement help.
ed the whole granger group. The eff
forts to bid npSIissouri Pacific were re-
ssumed with some success, and the Pacl-
fics generally showed good recoverles'
The borrowing demand in the stock
loan department Of the stock exchange
indicated that the short Interest had
become somewhat unwieldy and the
market ovprsold. The demand TO cover
from that element is the cause for thu
most part OF the days show of strength
Now York Central advanced point, but
the Southern group OF trunk tines, which
have been Influenced by the Penusylva-
mia Company's extensive operations for
control were generally heavy. BaiIi-
more & Ohio sold down at one time u
72Hc, 1t is argued that since the stock
IL allowed to decline, the syndicate
which underworld the new issue OF
stock at 50 has probably realized on lis
holdings. In tbs late dealings while tbs
market was hanging in an unsteady
condition at the high level, the steel in
dustriais suddenly gave way all around
Federal Steel and Steel & Wire losing
poIuts aud Tennessee Coal about SH
narcent. Other members OF the group
showed smaller declines. re general
list gave way under the influence OF THIS
break and the closing was active ana
weak with the gains largely reduced
Fears are felt that the easier money
conditions abroad are only temporary
and a disposition is manifest to cur'al'
speculation until they become more set
N,d. There was considerable activity
in the bond market, but the tone was
irregular. Total gales par value Sl'2So''
900. .,o,,. 4.
United states registered and new IS
declined q per cent in the bid price