The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-07-03
FINANCE AND TRADE Il.
The Features Of tho Money aid stock

Markets.
NEW YORK, July Money on call
easy At l,,s12 per cent: last loan 1sii per
cent. Prime mercantile paper aad4,k
rer cent. Sterling exchange stealer,
with actual business II bankera bills at
81 s6hi for demand and at "a Sa7s for
sixty days; posted rates s. S41gG14 SIS
and "a S7's. Commercial bills "a $50
s3M, Bar silver ClAc. Silver certin-
Gates 6lls@ssHc. Mexican dollars nc.
Government bonds irregular.
With the exception Of brief period
Of depression at the opening. In sym
pathy With foreign quotations the stock
market was consistently strong
throughout to-day and closed with the
gains well maintained In nearly all
cases. While the strength was pretty
well diffused, the grangers: and Pacifcs
were the leaders of the market both in
point Of activity and strength. The
news OF rains both on Sunday and TO-
day III the spring wheat regionSwas the
principal factor III the advance, as 1t
was in the decline in the W heat market.
The weekly statistics Of grain traffic
received from Chicago emphasized the
influence OF the news Of crop. condi-
tons, The deliveries Of grain at Chi
cage showed q still further Increase
over last weeks total and at G,336, 900
bushels were the largest for the spring
wheat In five years, with the exception
of the last, year from which the falling
OFF was about % per. cent. The receipts
ut primary points showed only a slight
decline from last weeks large uggre-
gate. The willingness thus shown by
the farmer to part With their wheat at
present prices served somewhat to
discredit the nlarmist reports OF the
prospective shortness of the wheat
crop. The shipments east Of Chicago,
both OF flour and of grain also showed
good increases. These considerations
proved SO effective, as to offset the
days unfavorable showing Of net earn
ings for May. The report OF the Chi
cage, Burlington & Quincy by reason
OF heavy charges for operating ex-
pensas. showed the Increase In gross
earnings more than wiped out and the
decrease established In the surplus after
fixed charges was no less than 60 per
cent. The same causes were at work in
the case Of the Louisville & Nashville.
the net earnings of which fell off about
II per cent from last years level. New
ertheless, these two stocks shared fully
In the days strength. The figures OF
the large July disbursements. OF divl.
bends and interest were another factor
of strength in the market. These are
estimated various!y at slOo.0OO.c00 to
Sl25,0QO,0Ol. 1t is pointed out further
mora tina. a larger proportion thnH
ever bffore Of these payments will re-
main in this country, owing to the
large buyirs of American securities
from foreign holders during the past
yca7. There wos no effect apparent Ia
| the money market from these disbursa-
| ments, and, according to precedent.
there may not be for several days. But
the bidding up of prices to-day repre-
sented the effort by professionals to an.
t!cipat2 the coming pressure for rein
restEent. In fact, the whole movement.
was largely IN professional hands, the
l
advance being accomplished on q small
volume OF business and with the oh.
vtous intention Of improving the level
of prizes. rather than of securing
stocka as cheaply rs possible. The
stee! stocks were strong in the early
dealings, In spite OF the news of con.
| tihucu decline In Prices Of product and
the widespread closing down of mills
pending the adjustment OF wage sched-
| u!es. There was also reaction in the
price OF pig Leaf. The metal stocks
generally did not hold theI. bast prices
The same was true of TIL: coa!ers. su-
CUR was comparatively quiet anu was
inclined to react from the high price.
The foreign depression was attributed
II the serious aspect OF the Chinese
question and in Berlin to the effec, Of
the disastrous fire in Hoboken OH Sat
hrdaS but the reelected Influence In
TINS market was overcome within five
minutes.
a long list of bonds sold ex-intercst
this morning and many Of them made