The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-03-30
FINANCE AND TRADE.
The Features Of the Money ana s..eE
Mafketa.


NEW YORK. March 2s.-Money on
call steady at sS4 per cent; last loan )
per cent. Prime mercantile paper Ig@
81 per cent. Sterling exchange arm.
with actual business in bankers bills at
81 sex for demand and 81 saMS4 SEX
for GO days; posted rates 81 ssM and
"a 81. comperclal bills 81 s1nal s2H
Silver certificates GO%@slAc Bar sill
yer 5ONc. Mexican dollars 47%c. Gov
eminent bonds steady. State bonds in
active. Railroad bonds irregular.
The stock exchange atmosphere was
rather oppressive during to-day's ses-
sion and dealings to take profits were
absorbed with less facility than on pre-
vious days during this week. No bet
ter explanation OF the reactIonary ten
dency of the market can be found than
the falling on In demand for stocks.
There was soma manipulation for the
decline which was effective among the
industriaIs and speclaltles and which
brought out a volume Of offerings that
looked like the uncovering of stop-loss
orders. But In the railroad list there
was no Indication OF forced rallying
The profit taking proceeded apparently
in an orderly manner. and any consid-
cradle recession in prices led to q de-
cline in the volume of offerings and a
dull market. Stocks which have gone
up the most during the week were ma
turally most affected, notably the
TranscontInental railroad and the
Southern trunk lines. There was some
Indication OF positive weakness In some
of the grangers and the coalers, the
tendency in the latter group being due
to the rather disappointing February
statement of net earnings for the
Reading company. There were not
lacking also points of strength in the
railroad list. The most notable upward
movement of the day was In stocks of
railroads in Central Traffic territory
and what might be called subsidiary
Vanderbilt. lines. Cleveland, Clncln-
natl, chlsago & st. Louis led the move
ment and 1t was shared In by Chesa-
peake & Ohio, Pittsburgh, Cincinnati.
Chicago & st. Louis, Canada Southern
and the New York, Chicago & st. Louis
stocks. The protested ground of this
advance was conference Of railroad
officials in this city looking to the en-
forcement of agreements to maintain
rates. The Atchlson stocks, Louisville
& Nashville and some other less con-
spicuoVs stocks continued strong. Aside
from the desire to take profit the halt in
the buying demand was due to appre-
henslon over the effect OF the gloomy
ofticia! outglvlngs regarding the pros
pect for future dividends on the stock
of the Sugar company, A sharp break
in that stock at the opening seemed to
have very little effect on the market.
But when It's weakness was seen to per-
sIst, sympathetic heaviness developed
elsewhere in the Industrial list and
among the local traction stocks. There
was no indication of stiffness in the
money market but probably the relax
ed demand for speculative purposes had
something to do with this. The end OF
the month and OF the quarter involve
some preparation TO meet dividend and
interest obligations and this factor be-
got some spirit OF caution about using
too freely the facilities Of the money
market in speculation The sub-treas-
ury for the first time this week gained
small amount from the banks and the
government institutions debit balance
at the clearing house fell to $S4O,69S, as
against daily average of nearly n
million heretofore this week. This
symptom attracted attention notwith-
standing that the gain by banks from
the sub-treasury for the week still
amounts to considerably over million
dollars. London continued to trade ac-
lively in this market but with much less
influence oil sentiment than heretofore,
owing to the knowledge that the pur-
chases for that account are carried to a
large exter: by money borrowed in New
York.
The bond market continued active
and for The most part strong, though
there were points of weakness in the
list. Total sales par value $3S15,OOO.
United States bonds were unchanged
in bid quotations.