The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-05-19
FINANCE AND TRADE.
The Features of the Money and Stool
Markets.

The Features of the Money and Stock
Markets.
NEW YORK, May lS.-Money on call
easy at 1&Q2 per cent; last loan 2 per
cent. Prime mercantile paper SsiGfR
per cent Sterling exchange easier,
with actual business in bankers bills
at 81 s7&9l S7?s for demand and at
81 s4s4d4 So for sixty days; posted
rates 81 s5iAa4 50. Commercial bills
81 SlG4 SlIa. Silver certificates 6ok@
6O%c Bar silver G0c. Mexican dollars
477ac.
Government bonds strong.
State bonds inactive.
Railroad bonds strong.
The stock market commended success
! fully against the marked depression OF
I the early dealings and showed iHeFeas-
| ing strength as the day advanced.
Early losses were all retrieved and the
close fairly buoyant with burst OF
buying orders in volume and urgency
exceeding that for long time past.
Very notable net gains are shown by q
number of the specialtles and Indus
trials while the railroads generally are
I from a fraction to over two points
| higher. The early depression had It's
| inception in London, where stocks were
/ sold down sharply. Corresponding
/ losses were shown at the opening here
and the bears were in an aggressive
! mood with this encouragement and pre-
/ pared to continue their operations
! against recent weak points in the In
! dustrial list. Sugar and Tobacco were
both sold down sharply, but they met
/ support OF a character which has been
lacking for several days past. An un-
/ vieldy short interest has been formed,
/ especially In Tobacco, In the course OF
I its recent severe decline, and when the
/ stock began TO move upwards, the de-
I mund from the bears became precipl-
/ tate The aggressive strength develop
| ed In some of the New York City stocks
| added to the confusion Of the bears.
| Broklyn Union Gas moved upwards 5l5
/ points and Consolidated Gas GA to n
Z iavei far above that touched by this
I strike For many months past, Even the
| stcels- industripls were bought and
moved upwards generally over a point.
I The bears abandoned their efforts to
keep down prices and rushed to cover
Z all through the list, making the buoy
I ant close. The large buying OF Bur
( lington was the feature OF the railroad
] Hist, but there was well distributed
I demand for railroad stocks during the
/ latter part Of the day and the sudden
jump In the prices Of some OF them in
/ dicatod the uneasy demand from n
I short interest The usual weekly fore
cast OF the cash changes OF the banks
Z was potent factor In the days
strength az stnclSs. II Is expected that
( the mtin by the clearing house instltu-
lions viii amount 10 about Sl,30OO0D af-
/ tor allowing Tor loss to the sub-trens-
/ ury OF about 100000, Including the pay
{ ments Tor gold bars for export. The
I movement OF currency from the inter-
I iur Is counted upon to ylold the cstima-
ted gain to banks, Owing to the failure
of last weeks money market to reflect
/ the placing OF tho large loan TO the
4 Pennsylvania Railroad Company, said
to amount to $4,000, 600, II was expected
thnt this Item would BE- reflected IN
this weeks loun account of the banks,
but The continued case al money does
not indicate large loan expansion anu
I tn, explanation ls offered that the
| Pennsylvania loan has been put ngain
In large part pending the period for It's
use. No gold exports were announced
for to-morrow's English steamers and
sterling exchange fell lower. Tho
strong return made to-day by the I'M
perlnl bank Of Germany kept pace with
the improved condition OF the English
and French Institutions and Affords re-
lief from apprehension OF any further
gold export at present,
The bond market responded TO late
nctiylty und strength In stocks. Total
safes par vaiae, Sl,795,OOQ.
United states rrfuudlng Is when 49,
sued advanced u per cent and all other