The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-02-02
F1NANoE AND TRADE.
The Features of the Money and Stock
Markets.


NEW YORK, Feb. Money on call
easy at 2Ka2M per cent; last loan, "a
per cent. Prime mercantile paper, 40
8 per cent Sterling exchange strong,
with actual business in bankers bills
at "a S71kd4 S7I for demand and at
81 S4H94 S4H for sixty days; posted
rates, 81 IS and 81 1894 sSls; CONNER
cinl bills, 81 SSk94 SS&. Silver cer-
tihcatea, 5s1l06OSc. Bar silver, 6O%c,
Mexican dollars, 47lEc. Government
bonds strong. State bonds inactive.
Railroad bonds irregular.
While good deal Of irregularlty was
manifest in to-day's market, owing to
the important operations for both ac~
counts in leading properties, the bulls
at ali times held the mastery, as evt>
denced by the generous sprinklinG OF
net gains through the list. Influences
contributing to this result included n
heayy absorption OF the iron and steel
stocks, and the excellent net state
ments Of the leading lines. Efforts to
dampen bullIsh enthusiasm met with
temporary success at intervals through
aggressive hammering OF the local
group. A ragged opening was due
primarily to the unsettling Incident In
Sugar yesterday, and yielding prices
for Americans in London. 1t was
Eoon made manifest that an Important
movement was carded in the metal
group and issues which are usually
NOT factors llvened up, and advanced
rnpldly, Strength developed in other
stocks, and the market rose easily. The
bear faction made a concerted attack
ON the local utilities, and broke Third
Avenue nine points. Kindred proper
Ties sasged 1GSN per cent and Sugar
and Tobacco we're also largely affected.
This manoeuvre provoked some selling
NJ The railroad stocks, hut as the var
mus encouraging traffic statements
come 10 hand the offerings diminished,
md business conferred almost wholly
In Inc fractions. The Generalization
In Third Avenue induced an official
statement by the counsel Of the COM
many OF plan to finance Its indebted
ness by an issue of per cent notes, nl-
lowing optional redemption by the
company within a year. The notes do
mi contain any clause permitting
thSIr convertibility into stock. This
statement effectually disposed Of recent
rwr,ora tbat the issue would be $20,OOO,-
oOO and would teopardlze dividend pny-
nonts on the. stock. Supporting or.
SsrT rallied II three points, but 1t went
dovy1, lower than before in drive near
the close, md ended with net loss
of eight points. A variety OF rumors
were circulated in connection with the
bnovancy Of the iron and steel stocks,
cbJef among which wHs the early eS-
,ohI,ohnent Of Tennessee Coal & Iron
s,ock an an s per cent dividend basis.
S,hor advances were predictions as to
do cnorrnous earnings OF the various
connanles, and trade reports asserting
JlslInct Improvement in the Indus
,r,oia tennessee Coal did not devel-
on It's buoynncy until numerous other
lssucs Of this class had been advanced
amnrtiy. When the movement In It
started II quickly assumed pre'eml-
nopce. md rose nine points despite en-
nrmous rcpilzatlons. Gains In other
mnnberg OF the group were less pro-
nounoed. but rnngod from . to Sh per
cent. The early attempts OF the bears
10 create liquidation in the Standard
stocks proving unavaillng. the shorts
became uneasy. and considerable lines
we're taken UP. causing material re-
bound in the moro depressed proper
ties. While the inquiry Tor the Lead
lnR railroad stocks was not very urgent,
Etill there WINS blight appreciation all
around, which WIZ fairly wen maln-