The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-05-23
FINANCE AND TRADE.
The Features of the Money and Stool
Markets.

The Features Of the Money and Stock
Markets.
NEW YORK, May 22.-Money on call
at 1N92 per cent; last loan IA per
cent. Prime mercantile paper Sh@4M
per cent. Sterling exchange easy. with
actual business in bankers bills at
"a S7SG4 s77s for demand and at
81 SAX al s4% for sixty days; posted
rates 81 s5hG4 SO. Commercial bills
81 S414 SAY. Silver certificates 6Oh@
6O%c. Bar silver 6Obc. Mexican dol
lars 471sc.
Government bonds weak.
State bonds strong.
Railroad bonds irregular.
Sugar certificates occupied the at
tentIOn OF the exchange to-day to the
practical exclusion OF other considerh-
lions. The apathy and the attitude Of
the market seemed to squirt profession
al traders to a search for some medium
operation and they gave themselves up
to speculative reVel In Sugar. The
movement Of the stock was highly
characteristic. That Is to say, the tiuc-
tuations were frequent, violent and err
ratio and there was no news to account
for them beyond the ARREST and most
unsubstantial rumors. Also It was
evident that the enormous business
being done would necessitate very little
clerical labor on the transfer books Of
the company. Probably the large ma
jority of the contracts made, either for
sale or for purchase, were closed out
before the end OF the day. the profit or
loss being accepted by the trader The
stocks extreme range was IA points
and the net gain was AS. In the open
ing dealings the price went down, In
continuation OF yesterdays depress-
ion. After declining 1as the advance
began and It had not proceeded far be-
fore the shorts began to manifest dis
tress and rushed to cover, pushing the
price up to the maximum. The squeeze
was not relaxed until the demand from
the shorts was pretty well satisfied.
The price then began TO fall back on
light transactions and without any
evidence of support. The bears became
weary after their punishment and re-
Trained from aggressive selling. In
spite of the announcement made on
official authority Just before the close
that the Sugar trade war had not been
settled and was not likely to be- The
leading industrials had sold in sym
pathy with Sugar. especially American
Tobacco, which is nearest kin to 1t In
speculative character.
The latter stock showed better re-
sistance to reaction than other special.
ties, which generally lost pretty much
all their gains. The general list con-
tlnued in a slough Of despond and
moved either way with great difficulty.
Opening prices We're lower in sym
pathy with London and there was
midday rally when Sugar shot upward
and Chicago & Northwestern was
marked up 51s. The latter movement.
was without explanation beyond the
large increase in earnings for April,
which was reported yesterday North
ern Pacific was comparatively firm on
a good statement for the second week
in May. Baltimore & Ohio was well
supported on small dealings. For the
rest, the trading was listless and indif-
ferent, with no evidence Of outside In
terest The speculative apathy and
depression were common to all the
great securities markets of the world,
and even the speculative markets for
food stuffs and commodities showed a
declining tendency. Sterling exchange
here was decidadly easier, but 1t is
considered not possible that some gold
may be engaged for Paris tomorrow.
The bond market became dull and ir-
regular again to-day. Total sales par
value, Sl.32O.OOO.
United States refunding %, when Is
sued, declined y: the Us and old Is y,
and the Is and new As 4 per cent in the
bid price.