The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-08-09
F1NANcESANp TRADE.
The Features of the Money and Stock
Markets. t3

tn9, eaSufes VI tne money anu Stock
Markets.
NEW YORK, Aug. S.-Money on call
steady at ~ per cent. Prime mercan-
tile paper 485 per cent. Sterling ex-
change steady. with actual business In
bankers bills at 81 SSs for demand and
at 81 SAN for 60 days; posted rates 81 S.
"a s5ls and 81 50; commercial bills 81 So
al S34. silvcr;,certificates 6l962lsc.
Bar silver 6OBc. Mexican dollars 4S,sc.,
Government bonds weak. State bonds
steady. Railroad bonds irregular.
The stock market to-day was even
duller than yesterday, and the move
ment OF prices was trivial. and InsIg-
nificant, without any important sexcep-,
ton: Room traders sold stocks, In the
morning, impelled apparently by the.
reports of the heavy volume Of gold to
be exported. Estimates were put out
that the amount Of the shipments to-
day and Tomorrow would mount upEto.
oover 100000 When 1t was seenithat
the total would not exceed $500, 900 the
room shorts covered. The market
closed practically lifeless, near to last
nights level. Yesterdays advancing
tendencyiin United States Rubber was
contested, and that stock was quite ac-
tive and feverlsh, ranging over Il. per
cent, and closing at 4 net gain of y
per cent. There was the usual profess
in Sugar and Brooklyn
Transit. the latter suffering from the
delay In the publication of the annual
report which has been, promised at
various times. The large American
subscription to the new British ex-
chequer bonds continued to absorb
large amount of discussion and sur
mise In Wall street. As an evidence
Of the large resources OF capital avail
able to the country. the incident was
generally accepted as subject for ma:
tional congratuiation.. but as an evil.
dence OF the acute pressure to which
the London money market Is being
subjected. and the possible reSults on
the world at large. and this condition.
twas not regarded reassuring. 1t Is
evident from the public criticism in
England OF the large allotment made
to the United States and the apollo
getic tone Of the explanation to pariil-
ment by the chancellor OF the exche-
quer, that the policy adopted was
forced by money conditions, which
might almost be classed as embar-
raised. The allotment to the United
States OF half the loan. before subscrIp-
lions were received In England. and
the quick closing OF the loan Is In
strong contrast TO the effort made to-
discriminate In favor OF small sub
scribers in the case of last April's
khaki" loan. The result OF that poll
Icy has been that spectators have re-
CURED to the money market to meet
the periodical installments on the loan
and TO carry their holdings. with peri
odlcal pressure on the market rs
4 result. There Is presumptIve evil
dence, also. OF sonic special provision
entered into with the Heading Anglo
American house In London" TO which
was allotted half OF the issue TO insure
shipments OF gold In payment. The
relief thus afforded TO the London mar
kct will thus be more direct. but In tho
last analysis the stringency of money
IN London Insured an ultimate move
ment Of gold. The real case looming
big behind the movement OF gold Is the
expenditure and preparations for war,
shown by the efforts TO replenish the
national treasure chests. To-morrow's
shipments OF gold to Paris show that
that center Is still In competition with
London for the precious metal, and the
plling up OF reserves by the bank OF
France Is now commonly accepted AZ a
preparation for pending Russian loan.
said to amount to s2Oo.OOo.OOO. Thu
news OF renewed attacks on the lcGa-
tlons in PekIn the progress OF hostIll-
ties involved In the r-arah on Pekin
and tho language 6f iirc nrcea's ad-
droos in rroroguinE parliament all gave
force to these considerations. and con-
tributcd TO the profound dullness OF
sueculatIon In securities. not only In
New York. hut In all the great finln-
cIal markets.
Bonds were neglected md irregular.
Total sales. par value. sS75.000.
United States new IS declined Is per
cent ara the as and oldLis Y per cent
in the bid price.