The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-07-14
FINANCE AND TRADE.
The Features Of the Money and Stock
7,.,H Markets.


NEW YORK, July l3.-Money on call
quiet at IL per cent. Prime mercantile
paper 3H9+ia per cent. Sterling ex-
change firm. with actual bust
ness in tankers' bills at
S: ssaQ4 s6;s for demand and
at 81 Si,s for 60 days; posted rates 81 s.
"a ai5. Commercial bills S: S349
4 s3H. Silver certificates slSg62%c.
Bar silver size. Mexican dollars iSHc.
Government bonds steady. State bonds
inactive. Railroad bonds Inactive.
To-day's stock market was but dull
and un!ntcrestins affair and marked
the further relapse from the man!pu-
lated rise OF the earlier part OF the
week which came into evidence yestcr-
day. Selling 10 take profits was the
order Of the day and the bears pu, out
some fresh short lines. That neither OF
these operations was on 4 very extern
sive scale is sufficiently shown by the
small! figure OF the total sales OF the
day and the greater par; OF even these
small dealings took place in the fore
noon. when the bull interests were still
making futile efforts to continue the
advance. The efforts WERE not put
forth in the opening transactions and
the sympathetic depression from for
e!gn markets was allowed its full effect.
The weakness there was due to renew
ed fears regarding the Chinese situation
and 10 the In!shap TO the British forces
in South Africa. The effect here was
purely sympathetic and when il was
seen how small the selling for London
account was. the bulls braced their
energies and attempted TO resume con-
troll OF the market. The pressure OF
profit taking which met the advance
when last nights level OF prices was
approached. discouraged the attempt
and the market was allowed 10 lapse
into an almost l!feless state. The sharp
break in the wheat marke;,whIch might
be fairly construed ny indicating
more hopeful feeling regarding the
crop. was powcrless 10 sustain the stock
market. Small as the offerings were,
they were sufficient to drive prices
sharply below last nights level. The
granGers. southwpsterns and some OF
the southern railroad stocks wcr2 most
notably affected. but there were exatn-
plies OF weakness all through the list
both OF railroads and specialtIys. The
steel stocks became notably weak late
In the day on 4 growing apprehension
that the general reaction in both curta!i
the consumptlve requirements for iron
and steel, whatever the ultimate basis
OF prices may be. A further advance in
the sterling exchange rate, the hasden-
Ing OF the London discount rate and the
continued drain on the gold reserves OF
the bank o! England led 10 the opinion
among international exchange houses
that further shipments OF gold from
New York to Paris are likely 10 be
made next week. At the SANE time To-
days reduction In the discount rates OF
the imperial bank OF Germany and
further relaxation on the private dts
count rate In Berlin makes It probable
that Berlin has been further reducing
its loan obligations to New York. a
liquidation OF foreign borrowing accom-
panied by an export movement In gold
would present an astonishing statr OF
affairs. Estimates OF tu.morrow's bank
statement urc rather tentative in vicw
OF the discrepancy last week batwcen
the preliminary Indications and the act
uni results. The banks seem TO have
gained over million dollars from the