The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-08-06
FINANCE AND TRADE.
The Features of the Money and Stock
s Markets. rs -

NEW YORK. Aug. 4.-AIoney on call
steady at IL per cent. Prime mercan-
tile! paper 495i per cent. Sterling ex-
change firm with actual business in
bankers bills at 81 SS94 SsA for demand
and at 81 SAGA SAY for! 60 days; posted
rates 81 s. and si.SS,sG4 SO; commercial
bills 81 s3@4 s3i,s: Bar silver s07sc; sill
yer certificates 6fk 9621sc; Mexican dol
lars 4Skc. State bonds inactive: rail-
road bonds steady; government bonds
steady.
There was nothing important In to-
days dealings in stocks and boEds. The
undertone of the market was firm. ow-
ing to the scanty offerings of stocks, but.
the efforts to arouse any speculative
enthusiasm were quite futile, outside OF
a moderate demand for the iron and
steel shares, which generally advanced
from to ~ per cent. the latter figure
representing the extreme gain by Ten.
nessee Coal. The motive Of the move-
ment was the encouraging opinion ex-
pressed by the commercial reviews of
the week on the conditions in the iron
trade. The report of yellow fever in
Florida caused henvlness In one or two
southern railroad lines and Brooklyn
Rapid Transit was affected byireports
OF labor disaffection. Sugar continued
on its course towards recovery and the
upward movement In Union Pacific was
continued, the other trans-contlnental
railroads showing some sympathy, The
list yielded somewhat on the bank state
ment, but nothing like important llqui-
dation was In evidence. The closing
was duh and rather heavy with the staei
industrials and few other speclaltIes
showing the only notable net changes
The growth In banking reserves was
less than expected and the loan expan-
sion made increased reserve require
ments, SO that the increase In surplus
failed to meet anticipntions. The re-
serve item Of the banks gains additional
Importance from the fact that the
American subscriptions to the new Brit
ish war loan are seen to insure an out
ward movement OF gold. Interested
bankers, estimatest that the demand for
gold to export on this account may
amount to from ten to fifteen million
dollars. Tho exchange market was
nominal to-day. but posted rates were
advanced !. per cent.
The stock market has remained in q
befogged condition this week, apparent
~ without rudder or compass, SO far as
the movement Of prices has reflected
any directing impulse. Changes for the
week do not show any new light on the
mooted pointtof what the! future level
OF prices for securities'is to be. Uncer-
tainty and waiting are the only, deduc-
tions to be drawn from the flat, quiet
surface of the market Dealings are
on n small scale and buyers and sellers
are Ear apart, rs shown by the wide dis
crepancy In bid and asked prices in
many usually active stocks. Bidding
is lansuid ard Indifferent and holders
are firm In their ideas OF values.
The resulting dullncss can not be In
terpreted Us hopeful for better condi-
tons TO come. but the absence of lldui-
dltion must be accepted MS confidence
that the future Will be no Worse.
: The declaration of n per cent div!-
dend on Union Pacific common stock
was preclp!tRted quite. unexpectedly on
the market, the general expectation be-
ing that action would be deferred until
about the middle OF the month. The
dividend on Baltimore & Ohio common
sotck was even a greater surprise.
SemI-oilicinl assurances had been given
OF . per cent dividend on this stock
for the SIX months period. but no inti-
nation had been given OF an intention
to provide for two dividends and for the
payment of one OF them so fur in the
future as six months.
DullncBs in bonds Is even more mark
cd than In stocks. the average volume
of dealings being considerably less than
half those at this time last year.
United States refundlng Us when is
sued have declined ind the as. old As
and IS Y per cent In the bid price on
call. n d.
U. S. Bonds.