The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-02-24
FINANCE AND TRADE.
The Features Of the Money and Stock
IFarIFafa

The Features OF the money ana StoeR
Markets.
NEW YORK, Feb. 2S.-Money on call
steady: actual transactions ranging
from to 2E per cent; last loan and
closed offered at 2 per cent. Prime
mercantile paper 4lk95 per cent. Ster-
ling exchange easier, with actual busi-
ness in bankers bills at 81 SIX for de-
uland and 81 S3N for go days; posted
rates 81 Sl1li34 IS and 81 Ss94 ssh. Com
mercIal bills 81 1904 S31s. Silver cerh-
fcates 59%@60&c. Bar silver 59hc.
Mexican collars 47&c. Government
bonds buoyant. Railroad bonds weak.
There was light accumulation OF or
ders over the holiday which were eX-
pected in the stock market at the open
ing this morning for outside account.
Arbltrage brokers bought stocks on a
small scale for foreign account, to cover
sales made in London at the higher
level, induced by the rumor which
found credence' On the other side of the
surrender OF the Boer General Cronja.
There was continued absorption on a
limited scale Of the stocks for some OF
the railroad companies which have
shown extraordinary increases in earn
irgs during the week and to which was
added to-day Northern Pacific. with an
increase for the second week in Febru-
airy OF $685. or Al per cent. Western
New York and Pennsylvania of the
bitumlnous coal group showed IN in
crease Of 3S per cent. But even at the
opening the pressure was manifest
against Individual stocks amongst the
specIalties, which served to unsettle the
market and eventually to turn the tide
in favor OF the reactionists. Continued
depression was manifest at the opening
in Third Avenue, Peoples Gas, Leather
and Sugar. As the day progressed
other stocks came under pressure and
the group above named showed some
recovery. The iron and steel group
were the first affected by the spread OF
weakness, Tennessee Coal dropping an
extreme s points and American Hoop,
National Steal. Tin Plate, Federal Steel,
Steel & Wire. Colorado Fuel and Re-
public Steel from to points. Later
the announcement of the dividend on
Consolidated Gas at the reduced rate es-
tablished since the local war was In
eject. led 10 a raid on that speciality,
with a resulting loss Of Ak per cent.
Rubber preferred lost nearly 4 points,
Metropolitan ~, Glucose 31S and Brook
lyn Union Gas 2h per cent. Third
Avenue fell in the final dealings to the
lowest OF the day, showing n decline OF
several points net. These violent de-
clInes had q sympathetic affect on the
general list especially on the Granger
and Trunk lines and declines in the
railroads were extended to a point or
over in many cases. Fears that the
cutting Of rates on grain would lead TO
Decentralization Of freight rates had an
influence. There was n slight ra.!y on
covering of shorts by the bears and in
kt.,r a Vl1o In Reading first
preferred to 59%. This made the clos
ing firm, but at net losses, In PRACTICAL
ly all classes. Preliminary estimates OF
the movement OF currency by express
to and from the Interior indicate an In
crease in the shipments by the banks
but n still greater increase In their re-
celDts 80 that the loss on the interior
movement Is believed to be less than
half a million dollars. Receipts OF
money by registered mail are said by
banking authorities TO be sufficient 90
more than Offset this. Losses by the
banks on sub-treasuIy operations LOT
the week foot up $3,0s4,OOO For some
reason the opinion prevails that the
loan expansion will show considerable
falling off from the recent rate Of In
crease. More or less mystery still at
taches to the phenomenal increases In
loans Of last week and the week before
and the disposition grows to attribute
them to some special operations. But
n further decline In surplus reserves OF
several million dollars will inevitably
be shown by to-morrow's bank state
ment.
The bond market showed decreased
activity and prices declined. Total
sales par value 81 $4,000.
United States new and old a. and the
s. advanced q per cent and the IS, q
per cent in the bid price.