The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-10-09
FINANCE AND TRADE.
The Features Of the Money and Stock
Markets.


NEW YORK, Oct. S.-Money on call
firm at 21s@3h per cent; last loan, 2h
per cent. Prime mercantile paper. 20
5a per cent. Sterling exchange very
weak, with actual business In bankers
bills at 81 S37s@4 "a for demand and at
81 SOss for sixty days: posted rates.
81 S1k@4 So and 81 S5.sQ4 Sc; CONNER :.
cial bills, 81 sOAG4 sO9s..
Silver. certificates, ,64ls@65hc. Bar
silver, 64hc. Mexican dollars, l0Sc.
Government bonds steady. State bonds
steady. Railroad bonds irregular.
Trading on the stock exchange to-day
was marked by revival of q consider
able bear party, whose activities were
aggressive and persistent. Their ef-
forts to depress prices were contested
by the speculative holders OF long stock.
who were successful last week in lift
Ing prices in spite OF the various unfa-
vorable factors which developed In the
situation. The. conflicting forces ut
work were reflected in q feverish and
Irregular movement Of prices. The
revealed by the Saturday bank state
mcnt had the effect of unsettling spec
ulative opinion. There was con-
slant variation between apprehension
over construction OF money supply
and the prospect OF relief by imports of
gold. The conviction became pretty
we'll settled as the day progressed that
gold would move from London towards
New York this week. The market for
foreign exchange fell feverishly by
successive stages throughout the day.
and demand sterling closed full cent
In the pound below Fridays level,
which was the last day Of active pusi-
ness in the exchange market. This
price is within u small! fraction Of the
Level generally agreed upon as offer
ms profit on Imports OF gold at the
present price OF gold and rate for money
In London. and is probably within the
limit that would allow the special
transactions which generally preccde
regular, gold movement in a struggling
fashion. Owing to the temporary
abundance Of money In London on ac-
count OF government financial opera
lions and receipts OF gold from India In
payment for silver, discount rates con-
tinue to fall there, and offer no resist
ance to the pressure for gold. The
small movement: of gold from London to
Berlin to-day was in response to the
transfers OF sterling from New York to
Berlin. which have progressed In con-
nectlon with payment Of subscriptions
TO the German loan. Il merber OF the
German loan syndicate broadly intimat-
ed to-day that requirements for ex-
change In payment OF subscriptions 10
the loan were about satisfied, and cN.
pressed the opinion that the same was
true In connection with the British
loan. Without this future demand 10
support the exchange market. the Hood
OF cotton bills which continues to ap-
pear In the market insures movement
of gold, which only n sharp advance In
foreign discount rates will serve TO
check. Such contest for gold as
would thus be precipitatcd. even II 1t
resulted In favor Of New York, might
not be an altogether reassurlng cir
cumstance. for spectators. as the sorc-
ing OF liquidation In foreign markets
might have reflex action here. Hence
the unsettlement OF the speculative
mind to-day. in spite Of the prospect OF
gold imports. There was also an APP
probable narrowing OF the money sup
ply Offering In Network. The prevailing
rate held at 3 per cent for call loans
and ran up to 3h per cent during the
afternoon. but the higher rate brought
out an abundant supply to fill the small
remaining requirement. and the rate
ran or to 2is per cent. The interior
movement OF currency continues una
batcd. and the deposits at the sub
treasury alone to-day for transfer to
the Interior footed up three-quarters OF
n billion dollars. With the exception
OF period OF strcnth In the iron ind
steel stocks. led by Tennessee Coal and
Colorado Fuel, the rcactionary tendcn-
cy was predominant, and the leading
stocks were of from to 3 points, With
the late break In call money, md the
fnll In exchange to about the gold point
prices rallied somewhat, but the mar
kct CLOSED feverish and Irregular. The
active bond issues were weak. but there
were exceptions amongst high grade
bonds. Total sales. par value. s1.0O0.-
900.
United States bonds unchanged on the
last call.
g0 q. S. Bonds. ~
Is : when Issd; E E $; new new i Is a roS
registered ....I0i u. S. old Is reg .IIiA
do coupon.....l0t u. S. old is coI .lliI