The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-09-10
FINANCE AND TRADE.
The Features Of the Money and stock

tile paper i15A per cent. Sterling ex-
change weak with actual business In
bankers bills at 81 SGa4 81 for demand
and at 81 S3K64 S3,k for GO days: posted
rates 81 s4ls94 So and 81 SsG4 ss,,s. Com
mercial bills 81 S2494 S3A. Bar silver
62hc. Silver certificates 62haGs4c.
Mexican dollars 49Ac. State bonds In
active. Railroad bonds irregular. stn,e
bonds steady.
With the exception Of a dabblIng
speculation in some Of the specinlties.
notably Peoples Gas Sugar and Brook
Ign Transit, no particular interest ut
tached to the dealings. The holiday in
London aggravated the dullness and
the weakness OF the active specialties
made the general tone heavy. The i'm
pending strike Of the anthracite min
ers had depressing influence on sen,l-
ment generally. though the coalers
themselves were little affected. New
Jersey Central recovered most Of Its
early decline and Reading first prefer
red was not down more than fraction
at any time.
None OF the other stocks OF anthracite
carrying roads was dealt in. The COM
parative firmness of the coalers was
partly due to the recent large output of
coal from the mines and partly to a be-
lief that the strike might be restricted
within narrow limits. But the prospect
or a controversy affecting SO large n
body OF laborers and such large invest
ments Of capital being abandoned to
hostile methods for settlement aroused
uneaslness among holders and opera
tors in securities.
me stock market made false start
again this week, after the three days OF
holiday idleness, and after n brief furry
OF activity dropped back into It's lethar-
sy and prices sagged again to the for
mer level. The general investment or
speculative world was not participant
In the dealings at any time, but there
was some evidence of bolder and larger
operations Of a professional character,
which were supposed to be due to the
re-entry OF some of the influential spec
ulatlve leaders newly returned from
vacations abroad.
The disposition on the part OF London
70 buy stocks here was increased by
the marked ease of money at that CEN
ter and the generally more cheerful
View held of>internatlonal politics, but
the vigorous measure adopted by the
Bank Of England by large Borrowings
from the open market, checked the
downward tendency OF money and gave
an intimation of knowledge of some flu
ture demands to be made upon the
money markets. Suggestions are heard
Of an additional British loan to be
placed, and the presence in France OF
/ the Russian minister of finance arouscs
discussion of measures to meet Russian
demands for funds.
The London money market hardened
In consequence. and at the same ti,na
sterling exchange weakened in New
York under offerings OF cotton bills,
brought on the market by the urgent
buying of cash cotton to tide over the
English shortage. This diss!patad the
hopes of London of n gold movements
from New York and weighed on tie
stock market. 1t Is considered proba-
Bile that future British loans may sect
a Judgement in New York with a view
TO Inducing further movement OF gold
to London.
1t cannot be said, however. that any
uneasiness exists In New York over the
future of the money market. in spite of
this possibility. OF further extraordinary
demand for gold from abroad. This.
and the beginning of the currency
movement to the south and west as well
as the practical cessation of operations
under the new government refunding
and bank note extension law, which
have been u source of replcnishment to
the bank reserves. all leave the money
market practically unruflled.
The Increased business in iron and
steel and the progress made toward ad-
justment OF wages are considered fav.
oraole as far as they go. but the dennI-
tive status of the industry is felt yet to
be decided and the future prices of steel
rails especially are looked for to helm
decide the future level of railroad ex-
DeIses.
High prices OF steel rails and coal are
serious elements In the expense OF rail.
| rodd operation. though railroad earn.
ings continue to be well maintained.
The declaration of manufacturers OF
Iron products that the maintenance OF
the export trade will depend on reduced
freight rates for the products shows one
OF the Important problems upon the set
tlement of which operations in stocks
are waiting.
Any considerable demand discloses ::
scarcity of stocks offering and prices
are easily advanced. The general sen.
timent continues to be one OF caution
against possible accidents. Sugar had
Its periodical furry and It's perlodicc]
surprise over the dividend declaration
and then became quiet.
a feature of the week was the
strength of silver on the demand for re.
mittance to China. The decrease Ii:
merchandise shipments TO China on ac-
count OF the truoblcd conditions there
calls for shipments of silver against
merchandise received from China.
the apathy OF capital toward srcuri.
Ties has been quite as marked In the
bond market rs In stocks. United States
refundins Is when issued and the s. I'D.