The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-11-09
FINANCE AND TRADE.
The Features Of the Money and Stock
Markets.

l. 2
The Features Of the Money and Stock
Markets.
NEW YORK, Nov. s.-AIoney on call
steady at 2h64 per cent; last loan 4 per
cent. Prime mercantile paper 4X@5A
per cent. Sterling exchange firm. with
actual business In bankers bills at
81 SAX for demand and ut 81 s07s@4 sou
for 60 days; posted rates 81 si94 SLY
and 81 IS, commercial bills 81 1870
4 SoH. Silver certificates 64G65c. Bar
silver 631ac. Mexican dollars l9Ac.
Government bonds strong. State bonds
inactive. Railroad bonus strong.
The stock market showed the effect of
some unsettement Of yesterdays buoy
ant conviction of SPECTATORS and the
growth OF an apprehension that the rise
in prices at the pace set yesterday
might find an early elimination. The
more conservative element made their
influence felt. from the opening and at
one time during the day brought the adj
vance fairly to a standstill. The firm
ness OF the undertone Of the market at
| that time was very striking. and 1t was
shown quite conclusively that the large
holders OF stock were not particularly
nervous over. seeing the rise In prices
checked Even those who ara willing
and anxious to sell out on an upward
tide showed 4 determination to hold at
/ or 1n,1, A .,,-,. M
dency then developed in the Industrial
and specially departments Of the lists.
The localized character OF this strength.
with the absence Of any special news to
account for II. gave ground for the sup
! position that powerful manipulation In
vited renewed speculation in that quar-
ter by outsiders and at the same time
served as powerful sustaining intlu-
ence for the rest OF the market. Under
cover Of this support profit taking went
sudden advances In some OF the usually
inactive railroad stocks, the railroad
list was distinctly heavy throughout the
day. Pennsylvania was marked up at
one time to LAO, but it held there only
momcntarily. The price remained
above last nights level, but was unable
to get back to the top. The PacIflcs
and Southwesterns, rs we'll as the
stocks Of railroads affiliated with Penn
sylvania which were so conspicuous In
yesterdays upward movement all suf-
fercd from realizing. In Missouri Pa
citic the net decline at the lowest was a
point and In Northern Pacific the extreme
decline was IL per cent. On the other
are always fnvorites with the specula-
tors, rose buoyantly on enormous deal
ings. One or two Of them had been be-
low last night early In the day, notably
Sugar. which broke IL ut the opening.
The late upward movement carried
Sugar, Peoples Gas. Manhattan. Brook
lyp@ Transit, Metropolitan Street Rail-
way, Pacific Mail and American To-
bacco up from az to nearly points.
Yesterdays enormous buying OF North
crn Pacific was explained by to-day's
declaration OF the extra dividend OF l
per cent on the common stock. The
omission Of this dividend in August,
when the regular scmi-annual dividend
of per cent was declared. was consId-
cred very ominous sign Of the prospect
OF curtallcd earnings for railroads. To-
days action is accepted us showing ro-
stored confidence In the maintenance Of
tho earning power of railroads. but It
did not save the stock from sharp re-
action on profit taking The Steel
stocks werr Irregular. Steel &; Wire
and Pressed Steel Car. showing rcac-
tlons. while other members OF the group
were strong. Money continued In
abundant supply and sterling exchange
rose further with the demand for pay
mcnts for the enormous sales OF stocks
for London account.
Tho bond market continued active and
firm. Total sales par value Si.0S5.O0O.
United States IS advanced y per cent
and nll other Issues except the Is Y per
cent on the last call.