The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-04-03
FINANCE ANp TRApE.
The Features of the Money and Stock
Markets.

Markets.
NEW YORK, April Mooney on call
steady'at sIsG5 per cent; last loan :
per cent. Prime mercantile paper ago
81 per cent. Sterling exchange firm,
with actual business In bankers bills
at 81 S6A for demand and at 81 SEX for
sixty days; posted rates 81 ssh and
81 81. Commercial bills 81 S2H64 SEX.
silver certificates 6OhG61Hc. Bar sill
yer $3.50. Mexican dollars 4TAc.
Government bonds weak.
State bonds strong.
Railroad bonds strong.
The stock market made a strong
opening to-day on large buying orders
which had accumulated In commission
houses over Sunday and In response to
the continued demand for London ac-
count. The influence OF Saturdays ia
Vorable bank statement was still felt
and the room traders were inclined to
the bull side. There was large abb
sorption OF the leading iron and steel
stocks, which was attributed to the
operation OF a pool, and the buying OF
PEOPLES Gas is said to be included in
the same plan. There was large buying
of Anaconda on foreign account In
sympathy with the strength Of coppers
both in London and in Paris, where the
short interest is In evident distress.
But notwithstanding these favorable
auspices and the additional benefit OF
some extraordinarily strong state
ments OF earnings, the strength OF the
market was not maintained. The early
demand was very freely fed for the
purpose OF taking profits by last week $
buyers. The persistent weakness OF
Sugar had an unsettling influence on
the list. The early strength of the Iron
stocks gave way to quite acute weak
ness after the assembling OF the an
nual meeting OF the stockholders OF
the Federal Steel Company. The set
ting movement seemed to gain force
as the hour for closing approached and
the actual close was active and weak
and net losses largely predomInated.
Some OF the railroad stocks. which had
been notably strong lost practically all
their gains or at the best had them
largely diminished. The Pacific stocks
and the grangers were conspicuous eS-
amples. Quite number OF usually in
active railroads were strong, notably
the Lake Erie &: Western stocks, the
preferred stock jumping 1875 points, TO
mar. and the common rising an extreme
AZ. ITO lAll III lubdA NfA-a e+NNNhffFe+a'
led by reports OF new cuts In the price
in coffee, the war In the coffee trade
being waged by the same rival inter
ests as that in the Sugar trade. The
weakness in the iron stocks seemed TO
be due to disappointment on the p'rt OF
the gpeculators over the showing OF
earnings made by the Federal Steel
Company. The drop in Federal Steel
from the early high point was AS and
IN steel and wire over points. Other
stocks I'm the group were less actively
traded In, but all showed weakness.
The days statement OF net earnings
for February Included gains over last
wears February net earnings OF ~
per cent for Norfolk & Western, So per
cent for Rio Grande & western, 90 per
cent for Union Pacific and 5S per cent
Tor j, louisville & Nashville. The stocks
~ those companies showed good re-
distance to the renctiOnHry tendency.
hut the conditions thus reflected OF
railroad business were not sufficient to
hold the general list. Money was
easy though not much effect was felt
from the disbursement Of quarterly In
terest and dividend payments. Sterl-
ing exchange continued Its upward
coprse and the question Is now arising
whether the increase In the circulating
medium by the operation OF the law OF
March Il may not result In sending
gold abroad by relieving the need Tor II
In circulation here. The process OF
taking out new circulation when hud
come to pause, Is reported from
washington to have received n !Issm
In,pctus and the gub-trcasury In New
York IL again paying out large amounts
for premiums on converted bonds.
The bonds market was active to-day,
Wabash debenturc BIS being absorbed
on a large scale. Prices generrain,Sy, az are
higher. Total sales par value S5;szooeV'
United states rcfunding q when is-
qued) declined y, and the g ana ola ~
u per cent in the bid price.
U. S. Bonds.
u. s. refund % ~. s now IS oon'iA
whom Issued d. ioiAiu. 9. OLD ts res,,is9
U. s. Is reg l00A Y. >: olu W rO" ii3,L