The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-10-25
FINANCE AND TRADE.
The Features of the Money and Stock
Markets. s.

AC l. GutO1GS VI l16 ana otOCR
Markets.
NEW YORK, Oct. 24.-NIoney on call
firm at SOS per cent; last loan per
cent. Prime mercantile paper sos per
cent. Sterling exchange weak, with
actual business In bankers bills at
81 S34s for demand and at "a sou for
sixty days; posted rates 81 SlEl4 50,
and 81 S4H94 IS. Commercial bills
81 79St@4 SOY. Silver certificates 64,40
653Gc. Bar silver Csc. Mexican dollars
Ole.
Government bonds strong.
State bonds steady.
Railroad bonds irregular.
To-days broad and active market
and the wide fluctuations In prices Of
fered excellent opportunities for specu-
lat!on, and all classes of professional
operators were very busy all day. The
broadly defined movements which
dominated the action of the whole mar
| ket were themselves under control OF
| powerful speculative cliques. and there
were indications Of cooperation be-
tween the pools which were manipulate
ing different portions OF the market.
Following this effective leadership and
bus!ly occupied in bringing forward the
less prominent stocks In the list to con-
| form In prices to the changes In the
| leaders. was host OF small traders
and board room operators, who were In
| and out Of the market many times dur
| ing the day. The strictly commission
house brokers had their full share If
| the days business. orders coming In In
| large volume from various sources. The
latter element offered the effective me-
| dunn for the success OF the efforts of
the professionals. That there was a
very large selling OF stocks during the
| day to this outside element became in
creasingly manifest when they pro-
ceeded. When the very active demand
had been pretty well satisfied and
many Of the professional traders had
sold out and taken out their profits,
they took advantage Of the soft condi-
ton OF the market. due to large holding
of stock having passed to weaker
hands to put out short lines for turn.
The resulting decline In prices increas-
ed the pressure to realize and the mar
kct closed active and weak at level
NATURALLY below the best. but with
some striking net gains. nevertheless
remaining. The backbone OF the days
market consisted Of the strength OF the
trans-continental group of railroads ly-
| lIB alilt MiHS
rumors were afloat this morning calcu-
lated to stimulate the buying OF J., these
stocks. One story had 1t that Pacific
Mail had passed to n Harriman-Van-
| derbilt control as O step In the forma-
| ton OF great through. transportation
line from the Atlantic seaboard to the
coas. Of Asia. There were also rather
nebulous reports OF settlement OF the
long standing controversy over rights
| In the clear water territory, In which
| there has been q temporary truce be-
tween the Northern Pacific. Great
Northern and Union Pacific. A lease
OF Northern Pacific by the Great North
ern with n per cent dividend suaran-
tee on the Northern Pacific
common stock Is an example
OF the character OF the rumors
(which were heard. Northern Pa
cnc and Great Northern themselves
were sold to realize on an enormous
scale and the former stock with the
| exception of n brief Interval was held
below last nights level all day, but the
other members OF the group and Pacific
Mail were very buoynnt during the
early part OF the day. There was
very large. speculation also, in Pennsyl-
vania and It was lntimated ny the vo-
ciferous element among the buyers
| thar Inc ulVlupNC rnte Ii 10 Dc lnCfcnS-
ed next month. The strength from
these stocks rndnted through the gem
eral list with greater or less effect. Ac-
tive buying OF Sugar helped the rise In
the specialties. No official confirmation
was forthcoming OF any OF the days
rumors. and representatives OF the
Huntington estate distinctly discredltcd
| the allegations regarding change OF
! control In Pacific Mall. That stock. NJ
ter rising 81. broke AZ points. having
no small influence In the weakness OF
the whole list In the trading. Other
leaders in the advance suffered to the
| extent OF TO | Y polnts. or more sub
stantlal benefit was the news OF the en-
gagemcnt OF an additional s., SOC, 900 OF
gold for Import.
The weakness OF foreign exchange.
with corn bills coming largely into the
market. and the further decline In Lon.
| don money rates Justify the expectation
that further gold imports are imminent.
The 100000 withdrawn from the Bank
OF England to-day IL not unlikely 10 find
It's destination In New York.
There were weak spots In the bond
market to-day and It did not share fully
In the great activity Of the stock mar
kct. Total sales par value. S2.056. 0Oil.yJ
United States government bonds Wcm
all advanced X per cent In the last call.
U. S. Bonds.
IT. e dss new new i 4 s 5sSs;S
: u. g. ref Is cou. ". s., old IA req ll5 n