The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-05-18
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.

NEW YORK, May 17-Monoy on call
easy at 1ha2 per cent; last loan2 per
cent. Prime mercantile paper s%@4N
per cent. Sterling exchange easy, with
actual business in bankers bills at
81 IS for demand and at 81 s4&G4 So
Tor sixty days; posted rates 81 s51a and
81 SO. Commercial bills 81 S494 s41s.
Silver certificates 6OGSOIsc. Bar silver
soc. Mexican dollars i71sc.
Government bonds steady, .
State bonds Inactive.
Railroad bonds steady.
The demand for railroad stocks Which
has given strength to the market for
number Of days past has been satisfied
and prices fell back to-day. in that de-
partment otltbe stock list. This Is ac-
cepted in Wan street as confirmation OF
the view that The demand came from an
outstanding short interest in the west.
and was nuk-based on any underlying
condition in the companies whose
stocks were Injected or in business at
large. The market showed itself as In
different to-day to one or two favorable
factors which developed as 1t was yes
terday, to any depressing influences.
The outside public remains profoundly
Indifferent to the stock market and
commission house business has fallen TO
practically nothing. st. Paul's state
ment oh earnings for the second week
in May showing a small increase over
last wear was a distinctly favorable
factor, as 1t was calculated to onset the
apprehension caused by last weeks re-
turn OF a decrease for the first time
since midsummer OF 1898. Last weeks
decrease was looked upon In wall
street as a sort Of turning point In the
rniIroad situation and declining scale
OF earnings was expected, especially as
the weeks reports of the movement OF
grain and Of the west-bound mcrchan-
disc movement have been d!SeouraGinF.
To-day's report showing the largt 81
earnings for st. Paul Of any cores
pondIng week in It's history was i.f
lief. but the resulting strength IN inc
stock was not maintained. Rumors al
the same kind ns those which servep
the purpose Of the bulls yesterday con-
tinued 10 circulate. such as that Union
Pacific or PrnnFylyanla was to secure
control of Burlington or Atchison pre-
ferred was TO receive its full dividend or
new millionaire interests were TO be
represented in Missouri Pacific, but all
Of theaa stories were heard With Ian
guild interest and prices continued TO
droop, In the Industrial list the losses
IN prices were not such q passiye mat
ter. American Tobacco was under Sc.
we're pressure all day on account OF
the circumstantlnl assertions OF the or
Ranizatlon Of formidable composition.
The stock lost over six points, closing
nj the lowest. Sugar suffered from
reports that the trade war was TO IS
sume n more acute stage. Peoples Gas
continued under pressure by the pro-
fessIonnl element amongst the traders.
An advance in the price OF copper was
responsible for the sharp rise IN Ana
condn and had some sentimental effect
nm tho stocks OF other metal companies.
The stocks in that group were dull and
thr movement very uncertain, the news
concerning the iron trade continuing
generally unfnvorable. Both the Bank
OF England and the Bank OF France
made strong weekly returns and tho
money conditions in London and Paris
showed relief accordingly. The proba-
blllty Of further gold exports from here
ia thus diminished. The local money
market continues very easy ana u IL
eyIdpnt that the gold exports have
been offset by gains from other sources
The bond market was decidedly uull.
hut Showed some advances. Total
sales par value. Il,GiS,OOO,
United States bonds were unchahged
in the bid quotations.