The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-11-12
FINANCE AND TRADE.

j.
Logan Drug Co. 3
FINANCE AND TRADE.
Tho Features Of the Money and Stock
). 5.J Markets.
NEW YORK. Nov. 1O.-Money on call
nominal. Prime mercantile paper 4E4
az per cent. Sterling exchange noni-
nal. with actual business In bankers
bills ut 81 S4ls64.SiS for demand and at
81 S0std4 sou for 60 days; posted rates
"a SIX and 81 S5Is Commercial bills
81. S0a4 S01s. Silver certificates 6i@65c.
Bar silver 64c. Mexican dollars 50kc.
State bonds Inactive. Railroad bonds
strong. Government bonds weak.
To-day's stock market was not mater
tally changed In character from that
prevailing since Wednesday, morning.
except that an opportunity was given TO
test 1t when the bank statement. made
its appearance. Considering the kind
OF buying that has been going on during
the latter part OF the week and the eX-
tent and reasons for some Of the ad-
varceH made, the market came through
the test fairly well. The momentary
chill which struck the market when the
statement first appeared seemed TO
pass. but fever ut was on when the
market closed and fluctuations were
wild and unsettled Under the conflicting
influences Of vigorous pressure by the
bears and eager support by the power
full bull cliGues or frantic unloading by
weak speculative holders and nervous
covering for 4 quick turn by shorts.
The earlier market showed very mix
cd conditions. but the eager demand for
stocks over rode all other influences and
prevented much effect on prices from
the realizing. which was on 4 very
heavy scale. Pacific Mall jumped near
,ly 10 points. by half point intervals, on
the announcement OF the entry of Union
Pacific interests into the directory and
Union Pacific was also notably. affected.
The Steel stocks showed wide and cy-
cited fluctuations on continuance of
the heavy speculation in those securi-
ties. American Hoop, Tin Plate and
Tennessee Coal were most conspicuous
and were marked up points or over.
When the market relapsed those stocks
and other prominent industrinls and
specialties were most affected, losing In
some cases between and points. part
ly recovering before the close. The con-
sternation manifested amongst specula,-
tors over the showing Of the bank state
ment was due either to foolish blunder-
Ing. or to reckless lisstatcTrent, as yes
terday's preliminary figures from the
banks themselves clearly indicated n
loss In cash. though not as large as the
G,O15, 200 actually reported to-day. The
extent OF this decline will Inevitably
lead to discussion as to whether cash
was withdrawn and boarded over
election Tho loan item seems also to
reflect the precautionary loan contrac-
ton OF Monday, rather than the later
liberal policy reflected In the money
rates on the stock exchange.
The professional speculative world Is
20 accustomed to paradoxcs that It was
taken somewhat by surprise by the logt-
cal rise In prices Of stocks which fol-
lowed the election. The whole OF the
speculative life in Wall street consists
OF EFFORTS to anticipate future events
and conditions. Thus, I conviction that
large demand is imminent for stocks
prompts large buying, ard when the
event takes place which has been look
ell TO to cause the demand. professional
spectators are eager sellers, not only
OF all their holdings, but of short con-
tracts as well. 1t Is Utmost Invariably
the case that events are over-discount-
cd. Hence the prevalence OF the para
dox In Wall street. Buy In Il weak MR.
Ket ana sell on good news ARE standard
hu-Nt''c tiSi'' IL IN leltly inc Gaze ITlt
wall street falls to sufficiently discount
an event or 4 condition, especially a
condition that has been so confidently
expected as the large public demand for
stocks which was to spring up after
election, but that Is Just what happened
this week.
The largo demand for railroads nf-
fords n better index OF the substantial
character OF the buying than that for
stocks. f
United States new Is advanced %, per
cent. the refundlng rs when Issued and
old IN u and the IS and 81 " per cent
over the ruling call price OF week ngo.
q. 8. Bonds.
U; S; ns,tnnalsns, O, ~ s; new 8 eouISsN
U. s. rs rcg.....11O U. s. Is rcs.....llSh
y. s. as coupon.llGlti U. 8. Is couponlli
U. 8. new Is reg 1864
Stocks.
Atchison 49,. 35!!l Mobile & Ohio. Il
do preferred :. U1,l No. Kan. Il Tex III
Ealto. & Ohio. 7yHl do preferred :. IS
Can. Pacific -. SS11. N. j. Central. ..l3J1i
Can. Southern. TIN n. Y. Central. .l37.i
chcs. & Ohio. 32;. Norfolk & w.. iOa
Chicago G. W.. l3S do preferred ;. is
Chi. u. & o....l33.s North. Pacific :. 62H
Chi. Ind. & Lou. 2t.t do preferred :. 1874
90 preferred >. olN Ont d WESTERN. Ab
Chi. & EaBt. H. 20 Ore. r, & Nav. q
Chi e N. W....ls5tsl do preferred :. 70
Chi II. I. & P..ll3Nl Pennsylvania ...l3JM
e. c. C. & st. l.. IS Reading ..u...,... l9S
Col. Southern :. G.. do nrst pre-, GIN
do first pre-. iO,s do second pre-. 30H
do Bccond pre-. 1914 Rio Grando W.. 80
Del. q Hudson. .1l5ls 'do preferred. 30
Del. Lack. & WIS 81. l.. & San f.. IL
Denver e X. G.. TN do first pre-. 60
do preferred :. tx do second pro-. 80
Erie ......,...... u st. Louis 8. ". li7s
do nrat pre-. s7k do preferred ). 3Js
q. North. pro. .16Ti1sI 81. Paul .........l2l7s
Hooking Conl.I Is do preferred ..l7J,s
Hooking Valley. 3gi. st. Paul & Om..l
Illinois Central. Icy South. paclnc.,. M
Iowa Central ;. M South Railway. AK
do preferred :. g do preferred :. 60;i
Lake Eric & ". 3S1i Texas & Pacific. 10
do preferred ..I06 Union Pacific -. 6iS
Lake Shore ..".2ieit do preferred :. 7sii
Lomia. & NRsh... TOY Wabash .."....., S
Manhattan L.. .I07 do preferred :. 2las
Met. 81. Ry.. ,I671tWheel. & u. T.. 1g5
Mex. Ccntral... 1874 do second pre-. q
MINI, & st. L..m' 60 Wis. Central. ...1i
do preferred .lol Third Ave. .....u2
Mo. Pacific 80. b9h
Exprcsn Companies.
Adams .........lS5 United States :. 60