The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-10-02
FINANCE AND TRADE.
The Features of the Money and Stock
Markets, 3sNr.

NEW YORK. Oct. 1.-Close: Money
on call flrmer at 2G2k per cent. Prime
mercantile paper 4H@51s per cent.
Sterling exchange weak. with actual
business In bankers bills at 81 s5!s@
4 S5& for demand and at 81 Slhai Slss
for sixty days; posted rates 81 seq and
81 S6i.W4 81. Commercial bills 81 S1AGp
4 SlS. Silver certificates 63E6IG5c, Bar
silver 6S&c. Mexican dollars 497sc.
Government bends steady
State bonds Inactive.
Railroad bonds irregular.
The stock market reflected the oper-
ations OF professional dealers on lar
| ger scale to-day than for long time
| past; as a result OF the arrival In New
York from summer outings Of the ma
| jor!ty OF the more Influential element
among the professionals. The market
advanced with'a considerable show Of
animation and strength. The move
| ment was clearly apart from any
| forced demand from the short interest
such as played large part in the spas
| modic upward movements of last week.
| This was made clear by the compare
| tive heaYiaeSs all day, OF stocks which
have shown the most pronounced weak
ness lately and In which a distressed
short interest would naturally make It.
self most evident. Notwithstanding the
| strength shown by the bull contingent,
they were unable to maintain prices to
the close and the tone was therefore
heavy ut the end and prices were con-
| slderably off from the best. Because
| OF the brokers who were employed In
the buying. the rumor circulated on the
exchange that It represented operations
| for the account of Il well known steel
magnate. who has already electrified
| Wall street on one occasion this year
and who IS known to command an in
iiuentlal following. The pleasure OF the
room traders In this hypothesis was not
altered by the quietness OF American
Steel g. Wire. which forced the traders
to the explanation adopted by the jeal-
Gus husband In the play that 1.-THE alb
sence of all signals must In Itself be
signal" The movement centered In
Union Pacific, which was absorbed In
very confident manner and in very
heavy blocks MI day. An extreme rise
OF 2A resulted. The southwestern rail-
roads moved somewhat In sympathy,
but not SO widely. New York Central
and the Cleveland, Cincinnati, Chicago
4 st. Louis stocks We're strong, In
t!uenced apparently by the rumors that
the latter Is TO be absorbed by the for
mer ms other subsidiary roads have al
| ready been absorbed. The leading In
dustrials. the local fractions and some
OF the steel stocks rose from | to 9k
points and Pressed Steel Car rose an
extreme ~. A raid In the late deal
lnsS on Tennessee Coal. which carried
more stock nc under Saturday unset
tied the market. The conl strike SEEM
cd TO be ignored and the coalers ns
whole moved contrary TO the market.
me professional bulls expressed great
~ increased confidence over the money
OUTLOOK, notwithstanding an advance In
the cal rate on the exchange to 2Ils per
cent. The continued marked weakness
OF sterling exchange, which was quoted
sc to the pound under the Friday rate
Tor demand sterling, gave further
ground for the expectation that gold
may come IN from Europe. Discount
rates were slightly easier in London,
anu there was relaxation also In Rer-
lin. where the relief there Ia great Mt
the successful termination of the stock
exchange settlement. The easing. Of the
money rate ut these centres In spite of
the suggestive decline of exchange
rates at New York lends 10 some claims
that the difficulties before the foreign
money markets have been exaggerated,
ana mat gold can be spared for New
YORK without precipitating n crisis, 1t
cannot be said that this View meets
win much favor outside the speculn-
tive element which wns engaged in nut.
ting up prices to-day.
me bond market continued irregular
and the dealings on small scale. To-
tai sales par value, $3.50, 0D0
United States rerunding 2s when Ia.
sued advanced z per cent In tho hid
price, and new Al declined " per cent.
q. s. Bonds.
U: 8. Rcfundlng y. s. new IN reg. I3iK
registered .....l0i y. s. old AZ rex. .iiii'
do coupon. ,.10i ~. 8. old Is coI.iIiS
~. s. Is rcg....los Y. s. 81 ....iiaI
U. y. aS coupon.l 1904 u. 3. bs coupon. .ll3h
Stocks.
Atchlson. ....... .77tl Mobile & Ohio. 81
do preferred. CA NO., Kan. & r.. OF
BAL. &: Oho,... GSfs do preferred. q :
Can. Pacinc..... 50 N. ]. Central. :. .i33H
Can. Southern. tJHl N. Y. Central. .l2sH
| Chez, d 0hio... AL Norfolk a Vs.. ASK
Chicago @. W.. 1875 do preferred. :. 7iA
Chi, Dur. q OLA Northern Pac.... an
| Chi, Ind. & L.. 20hl do preferred. 6S&
do preferred. t2Hl Ont. Il Western. 20M
Chi, " r. H.. 90 Ore. Ry, x NJ. i2
| Chi, & N. W.. II do preferred. :. 20 :
| Chi, II. i. q i. l0akl Pennsylvania ...l27R
C.. c. C.. Il 81. l.. G. Reading .,......, 15is
| Col. Eouthcrn.,. ~ do LIST prc.... 6i;s
II do iSt PFe.,,..W 90 "a pfc,,,,., 70 O