The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-10-20
FINANCE AND TRADE.
The Features Of the Money and stoc

The Features of the Money and Stock
st Markets.
NEW YORK. Oct. 19.-Money on call.
firm at 314 per cent; last loan per
cent. Prime mercantile paper 5@6 per
cent. Sterling exchange heavy, with
actual business in bankers bills at
81 SIX for demand and at 81 Sl,4 for
sixty days: posted rates 81 S2@4 S2is
and 81 s5ik. Commercial bills 81 $3.50
81. Silver certificates 62h96ic. Ear
silver 6JHc. Mexican dollars 1890.
Government bonds strong. Az
State bonds inactive. sH,
Railroad bonds strong
There was very active market for
all classes OF stocks to-day, in which
the bull element carly secured the upper
hand and maintained 1t, with growing
SUCCESS throughout the day. The rise.
in prices was SD considerable as TO In
vite free profit taking during the clos
Ing hour OF the market. But new
stocks were picked out for an advance
with such good effect onitEc general list
that It was able to absorb very large
amount OF the offerings before any eff
feet began to b. produced. Prices ran
of somewhat In the final dealings. re-
Gucing extreme gains to considerable
extent and carrying q few stocks, In
Guiding some of the leading indus
trials below last night. The closing was
thus made Irregular and very nctivc,
but the average level of prices was con-
| siderably higher rs n result OF the
days trading. The advance was con-
tested during the early part of the day.
but not as vigorously MS yesterday. No
further effect was produced than TO
check the advance In some quarters,
without cffecting any actual declines.
The bear opposition appeared to be
withdrawn when the course OF prices
turned clearly In favor Of the bulls and
some OF the interests which were large
sellers yesterday turned to the buying
side. a fact which could not escape
notice was that yesterdays rumors OF
further plans OF amalsamation of the
Vanderbilt properties were heard no:h-
Ing OF to-day and the concerted advance
In the group came to an end. In fact
New York Central itself finished the
day with n net loss and the same WAS
true OF other members OF the group.
The Lake Erie &c Western stocks. how
ever. moved up in the early dealings
and New York, Chicago & ST.. Louis
FIRST preferred gained an additional i've
points. 1t was noticeable also, that
Yesterdays upward rush In the steel
stocks was desisted from to-day and
several of the group ended with net
losses. the important exceptions being
| the American Hoop stocks. the Colora-
do Fuel stocks and National Tube. SUI
gar and Peoples Gas were affected by
realizing. This turning from one point
In the market to another Is n charac-
,erIstic feature OF professional opera
tion and manipulat!ve processes. which
clearly played large part In to-day's
market, but It was equally clear that
the professional manipulation for the
rise Ind large success In attracting
outside buying. There is class OF
| professional operators who have been
confident for some time past that there
was q large waiting public which could
be induced to buy stocks by any dcci!-
ed upward movement OF prices. To-
days market seemed to Justify their
confidence. With the exceptions above
noted the strength OF the market was
very general, and the trading was very
broadly distributed. Special points OF
strength were Atchison preferred and
the Changers and SouthwestGrns gen.
, orally, Northern Pacific. Southern Pa
clfc md Manhattan. with the other To-
cal traction stocks following In sym
nnthy. The news OF the day had little
10 do with the advance. Preliminary
estimates OF the weeks cash changes OF
the banks were decidedly confused. The
direct shipments by express TO the in
terror and the operations OF the banks
with tho New York sub-trcnsury indi-
cate loss In cash OF sToS,00o.
This takes no account OF the gold
which has arrived from Europe this
week and which may be too late to ilg-
ure prominently In to-morruw'a state
mcnt. This would throw the effect OF
gold Imports over into next weeks
statement. The activity In the stock
market seems to indicate an expansion
OF loans. But loans on the stock eS.
change have come largely from the
trust companies which drew on their
bank deposits TO secure the funds,
| There Ia thus n possibility OF shrinknge
In the deposits and consequently in
rHcrvr requirements. which will be TO
the advantage or the surplus, d
! The bond market was considerably