The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-01-19
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.

G4hEAGk6s
NEW YORK, Jan. 1s.-Sioney on
call easier at 2G3h per cent. Prime
mercantile paper SOS per cent. sterl-
ing exchange firm, with actual busi-
ness in bankers bills at "a s7it94 SIX
for demand and at 81 SS3@4 "a for
sixty days; posted rates 81 s4h94 IS
and 81 IS. Commercial bills 81 sac
4 ssh. Silver certificates $4,000. Bar
silver 5sAc. Mexican dollars 47hc.
Government bonds irregular.
State bonds easier.
Railroad bonds strong.
Stock market conditions showed no
marked change from those prevailing
for some time past and general LASH
tude was the characteristic. One or
two railroad stocks reflected a fair de-
mand, notably the Norfolk & Western
issues and Union Pacific. The Balti-
more & Ohio stocks were also bought in
moderate volume. Yesterdays move
ment in leather from which the specu-
lntors hoped the market would receive
an impulse, dwindled away and profit
taking depressed the price. Sugar was
advanced in desultory manner dur
ing the early part Of the day. but in
the afternoon broke over, five points
from the top level and unsettled the
whole market. Covering by the bears
in Sugar and the late demand for I'm
ion Pacific stlffened the market again
and served to retrieve a part of the
declines, making the close firm and the
net changes mixed. There was a very
marked absorption of new and reor-
ganlzation bonds, which served as a
background to the strength Of the
whole market for securities.
The undertone was Enthusiastically
firm and in spite of the very light de-
mand there was no pressure to sell
stocks. The further reduction in the
Bank Of England's private rate Of dis
count and the weekly return Of the
bank served to confirm confidence In
the money outlook. Strength in Lon
don on this score and on the hopes en-
gendered by meagre news from South
Africa causes some reflected strength
In the stock market Reserves continue
to accumulate in the New York banks
by both reflux Of funds from the inter-
Tor, the deposit Of internal revenue COL
lections with the banks and extraordl-
nary government disbursements by the
sub-treasury on account Of pensions.
The stock market demand for money on
call continuing very light, funds are
pressing more and more for employ
ment in time loans, which are quoted as
low as four and one-half per cent on all
railroad stocks collateral. Extraordl-
nary loans are even reported at per
cent and mercantile paper of n high
grade Is coming into additional de-
unand ut per cent. To-day's strong
undertone in stocks was emphasized by
the good reports received during the
day of railroad earnings for the sec
ond week in January. The hardening
tendency of sterling exchange ia Viewed
with tranquility because the Bank Of
England has Withdrawn its concessions
on gold exports, thus raising the gold
export point for exchange considerable
above that at which gold has recently
gone out.
The improved demand for bonds is a
natural result from the chenpsned rates
for money and the pressure of capital
for productive employment, Business
was fairly well distributed and adj
vanced quite uniform. Total sales par
value. S3,255,OOO
United states Is and old Is advanced
Y, and now ls coupon declined u per
cent in the bid price,
U. s. Bonds.
u. S. % req. .i03lsI S. old q rcg ~ n