The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-04-12
FINANCE AND TRADE.
The Featurs5 Of the Money and Stock
Markets,

Markets.
NEW YORK. April 11.-AIoney on call
steady at aGsss per cent; last loan go
per cent. Prime mercantile paper 4ay5
per cent. Sterling exchange strong.
with actual business in bankers bills al
"a SIN for demand and at "a ssN for 60
days; posted rates "a s44 and 81 SSls;
commercial bills "a ssG4 S3ls. Silver
certificates sOhG6lHc Bar silver 5sbsc.
Mexican dollars 47Tc. Government
bonds Irregular. sta:e bonds strong.
Railroad bonds easier
The reactlonary tendency which de-
veloped in the stock market YESTERDAY
continued manifest during the early
hours to-day, when the selling was ac-
tive and widely distributed and seemed
quite urgent in SONS stocks. About
midway OF the session. however, the
pressure to sell was somewhat relaxed
and friends Of various stocks took them
In hand and bid them up. The advance
in thesa stocks was not met by any
great burden OF offerings and prices
generally tended toward recovery. Tha
rally in prices failed to bring in any
notable demand for stocks and the mar
Ike: became rather heavy again and
closed in that condition. Dealings were
very largely in professional hands and
the efforts OF the bears to force down
prices and dislodge stop loss orders met
with considerable success in some quar-
tiers. The character Of the buying at
the decline indicated that commission
houses have orders to buy ut varying
levels below the Market There was no
appearance Of last weeks disposition on
the part Of the outside public to buy at
the market. Prices OF Americans were
depressed in London before the opening
here but the level OF the market fell be-
low the London parity and arbltrase
brokers bought stocks to cover sales al
the higher level in London. This buy
ing was especially large in Union Paci-
f,c when that stock got below 81 and
was a material aid to its late rally Of
over points, with sympathetic effect
on the Paclfcs and. in less degree, on
the whole market. Baltimore & Ohio
preferred and Louisville & Nashville
showed aggressive strength and MIS-
sourl Pacific rallied well from the
mornings sharp decline. Otherwise
the railroad list was rather quiet and
sluggish. The most violent movements
as usual, were among the industrinls
and speclaltIes. The fact that Third
Avenue stock stlll commanded a prem
Ium for use in the stock loan depart
ment last night. showed that the short
interest had not been entirely elinn-
mated by yesterdays violent rise. An
active speculation resulted in the stock.
and II was forced up at one time
noinis. then collapsed II points and -al'
lied again points. The net gain WAS
points. The public was not informed IN
detail with the plan Of the rehabillta-
ting the property and the movement OF
m, stock was governed by the necessi-
,,as N the shorts. Sugar was somn-
wha. Giraffe at higher level on the
GOOD conditions in the trade
and reiterated rumors OF a
trade war settlement American Steel
q WIre was subjected to further severe
pressure, with sympathetic effect on the
metal group generally. The RESISTING
power developed by Federal steel and
rs rise TO nA per cent above yester-
days price had reviving influence on
the group. There was no news to ae-
count for the movement in these stocks
The upward progress Of sterling eK-
change and possibility of gold exports
was used by the bears with effect The
shipment Of 100000 in gold to Buanos
Ayres which was'announcad to-day was
regarded as a triangular operation be-
ing In fact a payment on account by
New York ot London's obligations TO
Argentina. The money market mere
continued easy under the influence OF
large gains by the banks from the SUP
treasury. But apprehension sun exists
that II the high money rates in London