The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-09-24
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.

FINANCE AND TRADE.
The Features Of the Money and Stock
Markets.
NEW YORK. Sept. 22.-Money on call
nominal. Prime mercantile paper ,41s9
5ls per cent. Sterling exchange steady,
with actual business in bankers bills at
81 S6A44 S67s Rfor demand and at
tTS3ls for sixty days; posted rates
81 S4@4 SAC. and s4Ss. Commercial
bills 81 S2h@4 s2% Silver certificates
62%@6a&c. Bar silver 62&c. Mexican
dollars 1880.
State bonds easy.
Railroad bonds weak.
Government bonds frmer.
Stocks weakened afresh to-day, and
after two hours of active trading. the
market closed active and weak, except
for the irregularity caused by shorts
buying to cover In some OF the stocks
which had been most severely raided
by the bears. Only In Tennessee Coal
was the rally as much Us q point. ileav-
Ing aSnet loss Of two points In that
stock.
The coalers. the hIgh-priced special
ties and the steel stocks, except the
steel rail makers, show the heaviest
losses. The rioting and bloodshed in
the anthracite mining region had a de-
pressing influence on the whole list and
Readlng issues were specially affected
on account of the hope that has been
indulsed that Its mines would not be
shut down. which is disappointed by
yesterdays cessation of work in that
company's shafts.
The railroad group did not escape the
prevailing weakness and standard rail-
| road stocks were as much depressed as
stocks of minor roads. There were ex-
amples ola loss, of point or over in
the trunk lines, the Southern group. the
Southwesterns,s the Grapgers and the
Pacifis, Baltimore &; Ohio and Louis
| ville@& Nashville We're most conspIcu-
Gus for weakness. The bank statement
seemed to precipltnte renewed selling,
although 1t was no weaker than X had
| been expected and, In the decrease In
loans was rather better.
Prices are considerably lower as q
result Of the weeks trading in the
| stock market. On Monday and Tuesday
there seemed to be an effective check
to the liquidation begun on Friday and
Saturday Of last week md the demand
from shorts to cover effected some con-
siderable rallies but on Wednesday the
Liquidation was renewed In force and
hroadened out so as to include pretty
much the whole list. active us we'll as
dormant. The, immediate news devel-
opments Of the week have not been i'm
| portant. but tho conviction has been
forced upon speculative element,
which has held out persIstently for
high prices that the usual factors maxi
Ing for depression at this season are
not to be evaded this year.
While the bull party has been able to
sustain prices by careful nursing the
market has been entirely unfit to alb
sorb any realizing sales. owing to the
determined abstention Of the general
pubic from any buying. Even after
perceivinS this condition. the specula-
tors held on in the. confidence that the
money market was to 'cscnpe the usual
fall stringency that they would be able
| to carry their speculative holdings over
to the later period when advancing
prices are generally expected In Wall
| street.
New York bankers have been very
| large lenders In foreign markets and
Tor Il considerable period have been
practically out Of the local money mar
ket. Interior banks have, In the mean
time. been active In placing loans In
the New York market. The effect OF
these conditions. which have been rip
eninS Tor long time. became manifest
last, week when large demands were
made upon New York bank reserves for
| currency from interior points. The
hope that the Galveston relief meas
ures. made last weeks movement nil.
normal Is dissipated by this weeks
larger movement, demands from west
ern points being added to those from
| the south. New York money rates
nave r1sen appreciably In response and
| speculative sentiment In the stool,
market has been made much more SEN
sitlve to other elements OF uncertainty
In the outlook. ,''"''
1t Is recalled that In the experience of
last fall. the needs of speculative hold
ers OF stocks were the last TO be con-
suited by lenders OF money and many
Industrial dividend-paying stocks were
| uncompromislngly rejected Us collateral
Tor ioans. The call loan rate on the
STOCK eNchange SCARED to lsS per cent.
while no moro than 6 per cent was DaId
for loans in ordinary business transac-
lions. These are the considerations
that have induced the weeks lIquidn-
| ton. 80 80
The bond market has been only
slightly affected compared with stocks
but liquidation has been In evidence
tharc also. ~
United States new Is coupon advance
cd u and the old IS 4 per cent In the
The Is declined u per cent.
o. S. Bonds.
U; s; rel. Is reg 2. s. new As rcg1s!
U. s. Is ref. cou. Y. s. old IS res. liz
when Issued. .1Oi,s U. s. old IS couiie
Y. 8. "a rcE.....l09A y. s. 6s reg. .il3lsI
U. s. 3s cou.....lo9&t us. 5s cou.,.,.,llai