The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-03-06
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.

u4hEAgGSs
NEW YORK, March 5. : Money on
call steadier at 2N@Sa per cent; last
loan, 2A per cent. Prime mercantile
paper, 4h95M per cent. Sterling ex-
change steady, with actual business In
bankers bills at 81 ssh for demand and
ut 81 S2% for sixty days posted rates,
81 S494 SAY and 81 S7h94 IS: CONNER
clal bills, 81 S29i S24. Silver certifi-
Gates, SOY @6OEc. Bar silver, 5slkc.
Mexican dollars, 47&c. Government
bonds steady. State bonds inactive.
Railroad bonds irregular.
Attention in the stock market contin-
ued to be largely diverted to the fever
ish and excited fluctuations of small
number of stocks. Manipulation by the
bears was largely responsible for the
changes, In the case Of Sugar, the
operations Of the professional traders
were interrupted by the unexpected &c
tion of the directors in declaring q
quarterly dividend of ~ per cent Of the
common stock. This sudden tearing
nylde Of the veil of mystery rather non
plussed the professional traders, who
had counted upon period Of uncer-
tainty until "Wednesday in which to cir
culate vague tips, and to continue an
excited fluctuation in the stock, with
opportunities for profit both up and
down. The cutting in half Of the divl-
dend was about what Wall street sem
tIment had settled upon, but coming
suddenly upon the half executed plans
of the speculative contingent 1t left
them all at sea. The stock opened I'M
der pressure. but after falling nearly
two points, encountered very vigorous
support. and was rallied to 1O51k by
noon. A two thousand share lot was
taken at that price, when the news be-
came known Of the dividend action.
Enormous selling for both accounts i'm
medlately followed, and the prices
Stunned by wide breaks with occasional
spasmodlc rallies to 81, Fluctuations
were very wild on the recovery to par.
The flood Of offerings prevented the
rise above that, but on the reaction to
Os large buying was In evidence again,
which rallied 1t to 99h. whers 1t closed
ut a net loss OF 1% per cent. In the
half hour after midday transactions In
this single stock reached the enormous
aggregate OF 62,OOO shares. There were
sharp breaks In Tobacco and Tennes-
seq Coal nj the same time with the
slump in Sugar, but the general mar
ket was not affected. In fact, the
stock market gave evidence of its re-
lief over the settlement Of this disturb
ing question by smart rally, many OF
the railroads rising to the best prices
Of the day. The market was again un-
settled in the late dealings by an attack
on Steel Hoop, Peoples Gas and Con-
solldated Gas, driving them down three
TO four POINTS. New York Gem
trail reacted ~ per cent, but
otbprwise the rallroad list was little
affected, and retained n fair sprinklIns
Of net gains. Third Avenue, after hav-
Ing risen To 5sA, was forced down to 81
in the late dealings. and Tennessee Coal
also yielded to the pressure. A quota
ton Of ~ per cent was made for call
money during the course Of the late
bear raid on stocks. The money mar
ket during the day showed no sign OF
disturbance. and there was no evidence
Of liquidation being forced by tho call
ing Of lonns. London was not fac
tor in this market.
The bond market was rather dull
and Irregular Total sales, par value