The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-11-23
FINANCE AND TRADE.
The Features of the Money and Stock
Markets,

Markets.
NEW YORK. Nov. 22.-Money on call
steady at goa per cent; last loan per
cent. Prime mercantile paper 4G4A
per cent. Sterling exchange firm. with
actual business in bankers bills at
I 81 san for demand and at 81 81 for co
days; posted rates 81 So and 81 S5k;
commercial bills 81 SOA@4 SON. Silver
certificates Gi1s965&c. Bar silver 637Bc.
Mexican dollars SOC Government bonds
strong. State bonds Inactive. Railroad
bonds Irregular.
There was great ebb and flow In to-
days stock market that have character
lied 1t for several days past. Neither
the beginning or the end, however, was
so well defined as they-were yesterday.
| The currents, and cross-currCnts; were
very conflicting all day and made It
difficult 10 analyZe the tone, except dur
ing 4 period of pronounced reaction.
which developed after the opening and
| an equally pronounced recovery before
the close. The close itself was reac-
4
tIonary and weak under the influence
of I; violent break of Az points In
American Steel G. Wire. That stock
got up to 81 in the general rally of the
market. but plunged downward to 46I
In n few minutes and closed about there,
with heavy offerings still coming on
the market. The professional traders
In Wall street have worked for some
time In the faith that they were follow
ing the bull leadership of n combina-
ton OF forces between the most notable
speculator In the street and L newer
and almost equally dashing operator
who made his mark and n deep one ut
that in the speculation in steel stocks
durln~ the last year and u half. The
break in Steel & Wire coming near home
to this alleged speculative combination,
served TO unsettle sentiment very con-
siderably at the close. The bear con-
tingcnt succeeded in pretty well getting
the upper hand early in the day. The
market opened with price currents
moving in whirling eddes. There was
continued strong absorption in some OF
yesterdays strong stocks, the local trac-
lions and St. Paul being consplcu-
GUS. Later Il demand de-
veloped for Chesapeake & Ohio
on buying said to be for Philadelphia
account. This stock moved UP an OK
IRENE 2B per cent. This movement,
however, was not sufficient to discour-
age the pront-taking and bear pressure,
which has been more or less manifest,
especially in the steel stocks. from the
Eopening and the whole market fell away
without much support to the lowest OK
the day. The rally was inuuguratrd In
st. Paul. That stock was carried to 100
and the other grangers, Sugar. the local
traction stocks and General Electric
made the rcadicst responses. An effort
was made TO continue the movement
by the time honored device Of bidding
UP the VanderbIlts. but this proved UNI
awaiting In face OF the acute weakness
shown by the steel stocks. The news
| of the day was little regarded. Some
| disappointment was felt ut the cessa-
ton OF yesterdays heavy demand from
London. That center turned seller to-
day to the extent of about 10000 shares
on balance. There was n failure OF cx-
| pccted heavy demand for stocks from
the west. which was cut of from wire
communication yesterday The bears