The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-06-12
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.

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NEW YORK, June l1.-Close: Mo-
ney on call easier at 1902 per cent;
last loan tx per cent. Primo mercantile
paper SAQ4h per cent. Sterling ex-
change firm, with actual business in
bankers bills at 81 s7SG4 sly for de-
man. and 81 S4SG4 IS for sixty days;
posted rates 81 $500 sS1s. CONNER
clal bills 81 S4G4 S4A. Silver certificates
SOa61c. Silver bars Coo. Mexican dol
lars 47hc.
Government bonds firm
State bonds inactive.
Railroad bonds heavy
After a day of great irregularity in
the movement of prices and an ex-
tremely narrow interest In the market,
prices of stocks closed generally lower
and on the down grade. There were
one or two periods of firmness and n
few special features Of strength, but
practically all the gains were wiped
out The market opened generally high
er in south with better tone abroad.
Estimates by arbitrage houses of buy
ing for London account place the num-
Der of shares of the general list at up
wards of 10000. Advantage was
promptly taken of this London buying
to realize, and the level. of the market
fell below Saturdays close, Missouri
Pacific ran of over point and the
graugers were under pressure on the
ground OF continued drouth in the
northwest to which was attributed the
furlously active and excited wheat
market Buying of Reading first pre-
ferred and of Northern Pacific turned
the tide of prices upward again. The
trunk line railroad stocks led by Bal
tlmore & Ohio, showed some degree Of
strength. The late reaction in the
marke. had its inception in Northern
Pacific. The stock fell away on the
announcement that the meeting to con-
slider the rate of dividend which had
been fixed for Wednesday had been
postponed to Friday to await the ar
rival OF an influential member of the
voting trustees. Coupled with the opin-
ion reported by ]. j. HILL that at will
be well for US all to go a little slow" in
increasing dividends, fears were awak-
ened in the minds OF traders that a
disappointment is forthcoming about
the dividend on Northern Pacific COM
mon, which they have expected would
be increased to a regular semi-annual
dividend of per cent. Baltimore q
Ohio showed the closest sympathy with
Northern Pacific on account Of Mr..
BiIrs large influence In that COM
pany. The extreme decline in the
two stocks was l4s for Northern Pacific
and lN for Baltimore & Ohio The
whole market ran off and closed about
steady, but without any tendency to
recovery. Some of the strength OF
Americans in London was due to n re-
mort that there had been rains in the
spring wheat belt, but the latter devel-
opments In thr.whent market Of course
counteracted this. The principal in
Huepce in Improvement of foreign
stocks was the more cheerful tone OF
the Berlin market and the belief that
the crisis in money affairs this week
was past. The strong return for the
week Of the Imperial bank of Germany
emphasized this feeling. But discount
rates in Berlin advanced again to-day
ard in New York both the sterling ex-
change rate and the rate on Berlin rose
"A fraction, Notwithstanding the pur-
chase here Of stocks for foreign ac-
count. The late weakness OF the mar
ket was no doubt partly due to the re-
port which found currency near the
close that gold to a considerable
amount would be shipped by next
Thursdays steamer from New York to
the continent. Statistics OF railroad
traffic from Chicago, show further
falling of in the receipts of grain at
that point. although the eust-bound
movement Of freight was considerably
better than the week before.
The comparative frmness of the
trunk lire stocks was thus explained.
The bond market was very duh and
Inclined to be heavy, though there were
a few exceptions. Sales par value, ST.
G2J,OOO
United states new Is advanced y per
cent In the bid price.
~ o pa.ln