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

NEW YORK, Oct. 9.-Money on call
firm at 3I3k per cent; last loan per
cent. Prime mercantile paper 5G5&
per cent. Sterling exchange firm, then
easy. with actual business In bankers
bills at 81 S4G4 S4,s for demand and at
81 oS}. for sixty days; posted rates
81 S1!404 s5k. Commercial bills
81 79AGi sou. Silver certificates G4A@
65c. Bar silver 63fsc. Mexican dollars
5OAc.
Government bonds weak.
State bonds strong. UE
Railroad bonds Irregular.
The attention of the financial and
speculative world remained fixed to-
day on the problems OF the Information
al money markets. All the worlds
great money centers were kept under
careful scrutiny to detect development
which might throw light upon the out
come of the contest. now Inaugurated
for the possession Of the available mo-
ncys supply. The engagement Of E50,000
In gold and Its withdrawal, from the
Bank Of England for shipment to New
York marked the beginning OF the con-
test and confirmed yesterdays esti-
mates that sterling exchange at New
York had fallen within the margin OF
profit for gold imports. No announce
ment was made In New York OF this en-
gagement and 1t was commonly sup
posed that the withdrawal was made
In anticipation of an advance In the
price OF gold, with view to future
shipment. The withdrawal promptly
precipltated m advance In the Bank OF
Englands price OF gold. gold bars and
American eagles both being marked up
I'd m ounce. The margin Of profit on
imports to New York was thus wiped
out. Sterling exchange In New York.
which had steadicd this morning after
yesterdays downward plunge, there
upon resumed n downward course and
closed easy and stlll tending towards
the new level Of gold imports establish
ed by the Bank Of Englands action.
The discount rate In London also re-
sponded for the first time to the threat
encd demand for gold and hardened
slightly. Continental exchange both on
Berlin and Paris. weakened notably to-
day, on account OF the heavy continent
tai demand for cotton, buying from that
source having superseded for the time
being the English demand and in the
afternoon. It was announced that 1.000.-
900 francs had been engaged In Paris
for import TO New York. The Bank OF
France Is undoubtedly best equipped OF
all the great European banks to spare
gold Mt this time. But II has pursued n
policy OF boarding for some time past
and the policy OF the Institution In the
protection OF It's gold reserve Is exceed
ingly arbitrary. 1t Is taken for grant
cd thnt II will lntcrpose an obstacle to
the drain lnauguratcd today upon the
ParIs markets gold supply. As for
Berlin. to-dny's weekly statement OF
the imperial bnnk shows that 1t has
lost nearly S2,0O0,000 In cash during the
week. In spite OF receipts OF gold from
London. although II has contracted
above half OF the enormous note Issue
Of the previous week and has recalled
nearly Sl5.000.000 OF last weeks lonn ex-
pnnslon which exceeded s25,000,000. It
Is clearly evident. therefore. that New
York will have to make n more urgent
call to effect n movement hitler OF gold
on any considerable scale. Meantime