The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-08-27
FINANCE AND TRADE.
The Features Of the Money and Stock
* i, Markets, 800.

49, s4sl ~ n4al Acto. Ut
Fl NEW YORK. Aug. 25.-AIoney on call
steady at IL per cent Prime mercan-
tile paper 4g5 per; cent. Sterling ex-
change steady with actual business in
bankers bills at 81 So. for. demand and
at 81 St]]s for 60 days; posted rates 81 50
"a S5ls and 81 SS3sG4 50: commercial
bills "a .SSSt o. SiA.s Bar silver 617sc;
silver certificates 611E4G2lsc. Mexican
dollars iS&c. State bonds .ensier. Rail-
road bonds irregular. Government
bonds steady. 5s.
Weakness was pretty generally mani
tested throughout the entire stock mar
ket to-day. but as the offerings Of
stocks were only fairly large In Brook
Ign Transit, not much, Of an inroad was
made on prices. Early hesitancy was
succeeded by rising market, but the
entire list weakened In the late tradinSs
on the publication OF the bank state,
ment;and liquidation in Brooklyn Tran
sit.
Numerous favorable weekly state
ments Of earnings came to hand. but
their Showings We're without avail in
sustaining prices. Respecting the re-
cent activity and strength in st. Louis
Southwestern. the July statement made
known to-day Is explanatory. The re-
port showed gain OF 60 per cent in net
earnings over the corresponding period
year ago. Estimates as to the ex-
tent TO which the banks had.recouped
| themselves on sub-treCsury operations
AND the interior currency movement for
the last week was not borne out in the
official report. The discrepancy Is
thought 10 be due to the complicated
system OF averages which does not In
dicate the banks real strength.
Results In the stock market this week
were disappointing to'bulls and bears
alike. While the market was unre-
sponsive to good news, unfavorable fac
tors failed to create any marked iidui-
dation. The floating supply OF stock
is admitted to be small, owing 10 the
absorption of. prepayment interests who
have perfected or are projecting vari-
Gus deals With the holdings OF in
vestment interests to be considered,
caution necessarily surrounds bear ope
rattons. No important bull pools de-
veloped. but there were some move
ments which had q manlpulative ap-
pearance. The best Illustration OF the
narrowness OF the market was attested
by the wide changes which occurred In
special stocks when q large selling or
buying ord = was executed. Taking
ket values that were made Through
these operations. the paucity Of ready
supply, and the, Inability OF the market
to digest easily was apparent. When
conditions like this arise general inter-
est In fluctuations wanes and the mar
ket Is given over to traders whose op-
erauons are OF the day to day order.
What produces the general stagIatlo1
in financial markets the world over be-
comes OF interest and opinions vary as
to the cause. With the unsettled CHI
nese situation agitntin5 civilization.
measures TO recoup the treasures Of the
various nations involved for the i'm
mense sums expended is heard Amer
lean flnanciers are well fortified
against any possible unusual drain OF
gold. and banks are steadily strength
ening their position by increased clrcu-
latiOn. 20 Is
The position OF the Bank OF England
was considerably strengthened by re-
ceipts OF gold from here and the colo
MES. While borrowing heavily In the
open market, 1t maintained It's high rate
OF discount and reduced loan liabilities
by many millions Rctrenchmcnt. as
Tor some time past. continues TO be the
policy OF the Bank OF France Ru-
mers connect the strong position OF the
bank with preparations for financing
the reported Russian loan.5
The bond market showed periods OF
activity and strength with exceptionally
heavy trading in the, st. Louis south
western issues. IrrcgularIty becume
quite marked in the closing days OF the
week. - ITs,T1
United states rcfundlng 2's when is
sucd declined Z per cent, but the new
rs advanced per cent in the bid price.
Y. #