The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-04-17
FINANCE ANn rRApR.
The Features Of the Money and stock
Markets.


NEW YORK. April 1s.-Mouey on
call steady at s94 per cent; last loan 4
per cent. Prime mercantile paper 4l49
per cent. Sterling exchange steady,
with actual business in bankers bills at
81 s7ls for demand and at 81 sax for
sixty days; posted rates "a s4h and
81 ss!E. Commercial bills 81 $500 81.
Silver certificates 6Os9sl1sc Bar sill
yer 59kc. Mexican dollars axe.
Government bonds irregular.
State bonds Arm.
Railroad bonds firm.
The stock market after making an in
different struggle all day against the
forces of depression yielded all around
in the last hour and closed under Sc
we're pressure and with prices on rap
idly descending scale. Transactions
were large all day and the railroad list
made considerable show Of strength
In the opening dealings, but there was
heavy selling In the iron and steel
stocks. But some OF the railroad
stocks were bid up confidently in the
face Of violent declines in this group.
Missouri Pacific was buoyant and car
ried the whole Of the southwestern
group with 1t. This stock went to Sis
and its influence promised at one time
to overcome the reactionary forces,
but it fell suddenly to Thursdays level
and the whole list fell heavily in sym
pathy. No DEFINITE news was forthcom-
ing to account for the weakness OF the
iron and steel shares beyond the assar-
lions that the large selling was for ac-
count of important inside interests.
Wall street is confident that the SELL
ing orders in these stocks came from
Chicago and the west and liquidation in
Union Pacific and other western rail-
road stocks is attributed to the same
interests for the purpose Of protecting
their holdings in the steel stocks. I'm
ion Pacific was the first of the railroad
stocks to show acute sympathy with
the decentralization in the metal stoclls.
Late in the day a rumor took form that
there was to be extensive shutting
down OF plants in the great metal COM
panies on the ground OF over-produc-
ton in anticipation of business during
the early part of this year, which had
not materialized. American Steel &
Wire and Federal Steel led the decline
in point OF activity and weakness. at
the extreme declines in the group were
Tennessee Coal & Iron. 3; Steel & Wire
So; Federal Steel ~; American Hoop
*. There were few railroad stocks
besides the southwestern group, which
made a, stand against the weakness,
but the majority of railroad stocks
closed at from l to points under
Thursdays last prices. There was a
general feeling that the advance In
prices on the strength OF the general
outlook had about reached its limit. It
had been hoped last weeks reaction
would bring In new buyers and result
in new upward movement Of prices,
The failure OF the early efforts to-day
to get prices up caused disappointment
and uneaslness and when prices began
TO crumblc large speculative holdings
were thrown over. The absence Of in
itfatlve from the London exchange,
which was closed. deprived the market
OF usual sustaining force. The course
OF the money markets in London aud
Berlin gives little prospects of support
FOR American securities there and
covses snrna unenslness for the future
of those markets throughout the hnan-
clal world.
The bond market was active and
showed marked strength, which yield
cd only slightly to the late depressing
Influences. Total sales par value,
Sc, ss5, 900.
United states new IS advanced 70, hut
the S. registered declined \, and the
IS registered x per cent in the bid
IT q ponds