The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-07-19
FINANCE AND TRADE.
The Features Of the Money and Stock
Markets. -.

The Features Of the Money and Stock
Markets.
NEW YORK. July iS!--Money on call
easy at * Qlis per cent. Prime mercan-.
tile paper S&Gih per cent. Sterling,
exchange easier, with actual business
in bankers bills at "a 81, for demand
and at 81 SAGA S4E for. sixty days;
posted rates 81 S5Gi S.. Commercial
bills 81 S35sG4 s35s. Bar silver size.
Mexican dollars 4Shc;g
/. Government bonds irregular.
State bonds Inactive.
Railroad bonds irregular.
The bull party des!sled from their ef-
forts, 70 advance prices to-day and the
recent appearance OF activity dueSS!to
their operations. promptly gave place;
again to something neareto stagnluon::;
While. the, pressure to rlralize was not
severe, 1t was evident TINT the recent
demonstrative buying by the bull party
has failed utterly TO attract any de-.
mard from outside sources so that no
market Is offered for the taking OF pro-
fits. II is not difficult to fortell what
would be the effect. under these cir
cumstances, Of the selling out OF re-
cent speculative purchases. Apparent
ly the principa! reason 70, the cessa-
ton of buli manipulation was the
demonstrated futility of the attempt to
attract outside buying. Predictions OF
dividend. action on Baltimore, & Ohio
are so far discredRed that that stock
went backwards to-day and even Union
Pacific. which has been advanced by
much more aggressive management
fell back almost rs much the latter
losing X net and the former l7s The
increase in the dividend rate OF Illinois
Central apparently did not add 10 the
credence given TO predictions OF other
dividend increases. Yesterdays violent
rise OF four points in Pacific Mail anu
the strength OF the Pacific railroad
stocks was more fully explained by to-
days detailed reports OF the charterlng
OF steamships In the Pacific by the
United States government and In the
Atlantic by the German government
for use In the Pacific to transport. mil.
itary supplies to China. But the invit-
ing prospect thus offered Of lucrative
traffic for the Trans Continental. rail-
road lines was Offset to-day by some
other considerations OF the results 10
accrue from war In China. Wall street
has not given much attention hitherto
10 the check In export trade In Textiles
caused by the unsettlcment in China.
The uneasiness caused abroad by re.
ports OF boxer inroads upon Russian
territory brought sales OF securities In
New York for foreign account, and
reminder that forced liquidation abroad
might throw considerable burdens upon
the New York stock market. The days
shipments Of gold were u reflection OF
the money needs OF foreign markets
which are not unlikely to grow acute II
the government expenditures for war
preparation should become larger. To-
days engagements. amounting to
s2.OO0.OCO were more than million less
than was anticipated. a further shnrp
advance In sterling exchange at Paris.
reduction in the Bank OF Englnnd's
price for American eagles and n slight
decline In the London rntc OF discount
ms well as softenIng tendency In the
local exchange market were all dcyel-
opments toward n lessening OF the at
traction at Paris for gold. An advance
In the Bank OF England rate OF dis.
count tomorrow In not felt TO be 40
certain now as yesterday. The immc.
diatc continuity OF the gold export
movement is thus felt to be In come
doubt. But II military operations are to
be carried on In China, the needs OF
foreign governments for capital will
pretty certainly converge upon New
York MS this Is now the cheapest mo.
ney market In the world. But uncasl-
ness Is caused By the, conjecture MS to
the effect upon the New York money
market when the interior demand for
moving the crops Is added 10 the for
eIgn demand. Tho money market In
New York continues very dull, but