The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-01-13
r1nAuor ANp MEADE.
The Features Of the Money and Stock
Markets.

Inc Ee9GUfeS Oh Tue 14uuSS tA4 S6OS4A
Markets.
NEW YORK, Jan. 12.-MOney on call
steady at $94h per cent; last loan per
cent. Prime mercantile paper 51k46
per cent. Sterling exchange weak.
with actual business in bankers bills
at 81 s6%94 81 for demand, and at
"a sS04s3A for 90 days; posted rates
81 S4aI s4Is and 81 S71a94 So; CONNER
clal bills 81 S2h94 SO. Silver certificates
5SM@5shc. Bar silver 5sESc. Mexican
dollars 47Nc. Government bonds irreg-
ular. State bonds inactive. Railroad
bonds strong.
The opening sales of sugar AFFORD con-
vincIng evidence that its friends had
rallied to It's support and were prepared
to contest the progress which the bears
have made in cutting down its price.
Very heavy blocks were thrown upon
the market at the opening, but the QUO
tation was lifted from 11S to ia on
evening sales in the first transactions
of the day. The opening price was the
lowest. After the stock got above last
nights level the bears renewed their
efforts to depress 1t again. but without
success. The resistance shown by the
stock caused uneaslness in the rank Of
the unwleldy short interest and they
started to cover. They carried the
stock up to 1lS, near which 1t
closed. There was no further signs of
acute weakness which was shown yes
terday by the local traction stocks and
Tobacco, which was said to be due to
the closing out of an embarrassed ac-
count. These stocks were under pres
sure during the morning, but they re-
sponded to the recovery in Sugar and
late general strength in the market and
rose vigorously above last nights level.
The relaxation of the pressure on Sugar
played no small part in the general
strength Of the market. Railroads adj
vanced at the opening in sympa
thy with the strength abroad,
bu. they were not embar-
raised by Decentralization In the
specialtles and SO gained strength as
the day progressed. All the principal
stocks rose from / to 2 points over last
nights level and closed strong at the
top. Some very heavy blocks of Balti-
more q Ohio were taken on in the late
dealings by the circulation of rumors
of approaching dividend declaration.
The market broadened out notably In
the late dealings on the improved senti-
ueut In foreign financial circles and In
explanation OF a strong bank statement.
The Bank OF Germany followed the
other European government banks to-
day by reducing Its minimum discount
rate from to per cent and the down
ward course OF private discount rates in
London gave confidence in still further
reductions in the bank rates, London
also took q sanguIne view Of the ad-
vantages OF General Buffers new posi-
ton on the TugeIa river, The buying
for London account was sufficient to
cause a sharp break In sterling ex-
change rates all around. Money was in
abundant supply and rates for time
loans were shaded to per cent on
railroad collateral. Call loans fell to 8
per cent. sub-treasury operations had
yielded to the banks 3S.443,OOO up to
Thursday night. The net gain of the
banks on the regular express movement
with the interior is estimated at about
the same amount. This docs not take
account Of receipts by registered mall,
which are reported to have been on a
large scale From these amounts must
ne deducted last Saturdays gold exports
as well as :l.OOO.OoO in gold which went
to South America to-day. The net gain
by banks on all accounts is figured at
about S4,OOO.OOO
The bond market continued dun. but
was strong. Total snies par value
s2,lo5OOO. United States IS registered
declined II per cent. but the IS adj
vanced X per cent In the bid price.
II. g. Bonds,