The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-06-08
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.


NEW YORK. July 7,--close: Money
on call easy at l%q2 per cent; last loan
tx per cont. Prime mercantile paper
sha4 per cent Sterling exchange frm
with actual business I'm bankers bills at
81 s7M for demand and at 81 Sih for
sixty days. posted rates 81 S6h and
"a SSk. Commercial bills "a $3.50
1 G3R Silver certificates 60DGlc Bar
silver Coo. Mexican dollars 47lsc.
Government bonds weak.
State bonds strong.
Railroad bonds irregular.
Absolute stagnntion characterized the
stock market to-day. by comparison
with Yesterdays the tone wuS Arm,
but that was only because the bears
somewhat oXer extended their commit
ments on the short side yesterday. II
was evident that the late selling yester-
day was based upon the expectation
that selling by London this morning
would offer an opportunity to get back
stocks ut lower Lowell. London did IN
fact sell stocks here on n moderate
SCALE but the demand from the shorts
was sufficient to overcome the decline
and to make some show Of strength In
the market. The bulls attempted 10
stimulate the movement by bidding the
coalcrs on vnguc talk OF further COM
prehcnsivc traffic agreements. This
manoeuvre proved ineffective and the
market relapsed to about last nights
level and never got far away from II
again In either direction, New York
Air Brake was rushed upward 2a
points on talk Of absorption by the
westinghouse company, II saved Il
1--WE point net gain, In Sugar there
was a demand from mn uncusy shortin-
terest which had been over-eNtcnded
during the decline OF the last few days
and the stock gained over point net.
The loAnlnR rates on stocks disclosed
the existence OF quite large outst0nd-
Ing short interest well distributed
through the list In the entire lack OF
animation In speculative spirits, the
professional traders are dislnclined to
further commitments on short side.
There was no further evidence to-day
OF the selling through commission
houses, which was called outside llqul-
dalton. The Incidents Of the day. tn
ken in themselves, indicated declining
values for securities, but these iHe'-
dents had been anticipated and there
fore the movement OF prices was ais
continued. The iron stocks were rather
firm on the superstition that the cut IN
pFlCNb mas uIuukUl a. SN'l uN"t - Wv
resumption OF the expected buying de-
mnnd, Many alnrmlBt reports were
current concerning the northwestern
crop. The continued henvlncss OF for
eign stock markets on account OF the
complication In China had Bympnthet'
lc effect here. The selling of stocks Tor
London was sufficient 10 cause frnc'
tI0nal advance In cable transfers on
London. The weekly statements OF thi
foreign government banks disclosed
conservative policy stlll In force. The
Bank Of England returns shows only
5000. 900 In loans repaid TO the bank In
spite OF the disbursement OF govern
mont deposits to the amount OF over
5000 600 aud prevailing private rate
of discount well below the bank rate.
AS the bank IL atlll losing gold for cN-
port. the governors rcfrnlncd from re-
iuclng the rate Of discount. The Bank
OF France has resumed ttg policy of
both nOto ana loan contraction, which
wns interrupted last week, npd IN
spIte Of n gain In gold u S2,I200 600. II
has decreased IT, note circulation over
ser. 900 900 and contracted iis outstnnd-
ing loans over $4,000 600 In Berlin
there were forced sales Of mining
shares and reelection OF the anme
policy OF retrcnchmcnt In New York
ON the contrary money continues In
very light demand and Increasing sup
The bond market WIN quiet and IT.
regulnr. Total sales par value, $3.50.
600. AN United States issues declined
Y per cont In the bid price except the
Is.