The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-10-19
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.


NEW YORK, Oct. 1S.-Money on call
firm at 1904 per cent; last loan per
cent. Prime mercantile paper sos per
cent. Sterling exchange strong with
actual business In bankers bills at
81 Sih94 S5ssc for demand and at
81 S1AQ4 S1Sc for GO days: posted rates
81 S2@4 S2h and 81 S5,a; commercial
bills 81 SohQ4 81. Silver certificates
6z1a@6ic. Bar silver 63Bc. Mexican
dollars 49hc.
Government bonds strong.
State bonds weak.
Railroad bonds irregular.
The movement Of prices Of stocks be-
came exceedingly varied and irregular
to-day under the operations Of con-
filcting speculative forces. Those
forces were largely professional traders
In stock and they conducted their oper-
atoms with free hand on large scale.
So far as the surface of events showed.
large ard influential bear party inau-
eurated campaign for decline to-
day. There was open selling by an
interest which has long persisted on the
long side OF the market and for whose
account there was large selling to-day,
not only In stocks In which there has
been open buying for some time past.
but In other stocks all round the room.
On the other hand. there was resistance
ofr 10 hn No. TIM In
ton OF various special stocks with re-
sulting sharp advances. How far this
latter movement resulted from desire
to sustain the market for the purpose
Of realizing In other stocks could only
be surmised. In Union Pacific the
selling to realize was on m enormous
scale, blocks Of n thousand shares and
upward coming out frequently. Con-
sidering the volume Of dealings, the
narrow movement of the price Is
pretty good indication OF 4 continued
heavy buying demand. The stocks
extreme range was Is per cent. which
measured the decline and In the late
dealings there was full recovery. The
heaviest selling pressure for the day
was In stocks which have been recent
ly the center OF bull operation. Penn
sylvania, Baltimore & Ohio. Southern
Pacific, AtchIson preferred and Louis
vile were conspicuous In this catcgo-
ry. During the early hours Of the day
the aggressive selling was succeeded
by periods OF dullness and feeble rallies,
but the development of positive
strength ut some points later In the day
made the urdGrtone firIncr throughout.
The first notable rally was In the Iron
and steel stocks. which were suddenly
advanced all around by rapid steps OF
from to 2.t per cent. Prices OF the
group then fell back. but points of
strength developed elsewhere. The
movement In New York Central and in
stocks of all companies which are ex-
pOcted to come In close relation was n
noticeable one. There were substan-
tial gains in all OF the New York. CHI
cage and st. Louis stocks, the first pre-
ferred selling up six points on single
sale and closing points higher bid. The
Lake Eric &; Western stocks and Cana
da Southern rose from l to points.
Chicago G. Northwestern, the Denver s;
Rio Grande stocks and few less con-
splcuous railroad stocks also came into
the late movement, which spread
throughout the list. Sugar rallied
sharply az points and the closing was
firm and at rccovcres. International
Power was conspicuous for n slump OF
9K points on the execution OF small
selling order. The market was strict
ly professional throughout and the
news OF the day had little influence on
prices The ending OF the coal miners
strike was entirely Ignored and the
tendency In Peoples Gas was reaction,
airy In spite OF the announced settle
mcnt OF Its controversy with the Ogden
Company. The retention Of the bank
Of England's rate OF discount at 4 per
cent had little effect here. ns the course
OF sterling exchange continues upward.
owing to the falling OF In the supply OF
cotton bills. and It Is not expected that
any further gold will be drawn to New
York under present conditions. Trans
fcrs OF currency through the suh-treas-
ury rose to s325.000 to-day. but New
York exchange Mt Chicago recovered
from 40 cents discount to 25 cents dis
count.
The bond market continued Irregular
en- y fair volume Of business. Total
sales par value sl.7l5.0Oo. &
United States new is advanced Y per
cent on the last call.
U. S. Bonds.