The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-11-05
FINANCE AND TRADE.
The Features Of tho Money and Stock
Markets.

NEW YORK, Nov. 3.-Money on call
nominal. Prime mercantile paper, AZ
05is per cent. Sterling exchange steady.
with actual business In bankers bills At
s. S3hG14 S3X for demand and at 81 so
for sixty days. Posted rates. 81 SIG
4 SlIs and 81 IS. Commercial bills. 81 1919
a. 80. Silver certificates, 6Ea1oS,.c.
Bar silver, 64,sc. Mexican dollars, So1sc.
State bonds inactive. Railroad bond,
steady. Government bonds stronf.
The attention OF stock exchange bro
kcrs was largely diverted to the politi-
cal parade to-day. and trading was al
most entirely confined TO the closing up
OF contracts over Sunday, or until after
election. The bears were disposed TO
cover, evidently. an prices moved up
wards for the most part. lnsPired
statements regarding the heavy earn
inss shown from operations OF some OF
the steel corporations, and a report that
O large contract in South America had
been secured By the Pressed Steel Car
Company helped the latter stock to the
extent Ct three points and other mem
hers Of the group l to II points. There
was an urgent demand from a short In
terest In Sugar, and some Of the New
York public utilities shot upward quite
buoyantly. In the railroad list the gains
were smaller but general. Louisville
sold In small quantity at 1Hs per cent
over last nights level, and only q few
other railroad stocks gained as much
as point. Just before the close prices
ran off sharply on profit-taking. which
was conspicuous IN Sugar and Brook
Ign Transit. The tone was easy at the
end. Sentiment was not much discom-
tnaaI Nv, ardo In, th... Gail
loan market. as It was attributed In
part TO manipulation. The conditions
which made the manipulation effective
are felt to be temporary. and the quick
weakening Of sterling exchange yester.
day, In response 10 the rise In money,
gave confidence that any requirement
for money would draw additional gold
from Europe. The stool, EXCHANGE
seemed to expect gain In cash to be
shown In the bank statement. as there
was failure to take account of last
Saturdays statement having already
anticipated the effect OF large payments
for gold. which are made to figure again
In this weeks statement Of 3ub-treus-
ury operations. Had 1t not been that
the gain on the interior movement ran
up considerably over Yesterdays pre-
liminary estimates, the decline In the
reserves would have been considerable.
The reduction in the loan and deposit
items made tho decrease In the sur
plus merely nominal. A feature In the
outside market was buying of Standard
OH up to s606 and s610 bid. The pre-
Hlous high record for the stock was
$500.
Last weeks rapid speculative gait had
checked this week. and the volume OF
dealings has fallen OF to near the point
OF midsummer dizziness. There is q
disposition In Wall street to attr!but.
this to judicioun curbins process By
what are called THE controlling inter-
csts,' meaning tina interests which are
deeply committed to speculative, VEN
lures. This is so far true that tho in.
ordinate manipulation. which was tho
feature of last weeks dealings, has been
largely discontinued
The German money markets have
made good progress towards rccupera-
ton. but are not expected 10 be in con-
dition 70 meet foreign requirements fol
the present. Those who seek light on
the future Of the stock market by the
| analogy OF events In 1895 would ind
that after rising from early in octobe,
nigh prices were touched generally
within n week after election. ar,eI
which they declined until late In Deocm
Der to near the carly October love,
| again.
Business In bonds has been on a de.
clinins scale. and largely concentrated
In few mortgages OF speculativ. val.
ues. Prices have recaded.
| United States new and old rs nd.
vanced y per cent. and all other Issue,
u per cent over the cali price a week
ago. ,Eir'.' ~. = 49,
| rs Eo,d,