The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-11-26
FINANCE AND TRADE.
The Features of the Money and Stock
~. Markets. 4.z

@ Markets.
| NEW YORK. Nov. 24.-Close: Mo-
ney on call steady at per cent. Prime
mercantile paper 1905 per cent. sterl-
ing exchange nominal. with actual
business in bankers bills at 81 $50
S5& for demand and at 81 SlAd4 Sl7s
for sixty days; posted rates 81. So and
81 Sc. Commercial bills 81 S0Aq4 S0&.
Silver Certificates 6iH@G5isc. Bar sill
yer G3ac.. Mexican dollars Soc.
State bonds inactive. #g
Railroad bonds firm.
Government bonds weak. atS
The most striking point In to-day's
market was Its dizziness compared with
the recent level OF activity. Neither
the public nor the large operators
seemed TO be taking any part in the
market and prices drifted rather AIM
lessly and hesitatingly. The continued
weakness In some stocks. especially
Steel & Wire. ut the opening was offset
by the aggressive strength OF others.
Northern Pacific opened over n point
higher and extended the advance later
TO over two points. There was indie
pendent strength shown at different
times by Union Pacific and by the
Southern railway stocks. which lifted
them l to w points each. There seem
ed to be some inkllng of the favorable
character OF the bank statement before
It's appearance on the tape. The bear
Traders have circulated rumorS since
yesterday that some mysterious In
nuence was at work which would spoil
the good features OF the statement.
Shorts covered heavily in advance OF
the statement and general rally oc-
cured which lifted the whole raarke,
well over last night. many stocks ris-
ing n point or more. The bears were
much struck by the failure of my large
buying demand to develop with the
easy money conditions indicated, and
they put out fresh short lines in tho
last few minutes Of the trading, making
the closing active and weak, and near
the lowest, except for the stocks where
particular strength had been shown.
The market at no time showed the mr.
gent liquidation which was the feature
yesterday, but new buying was equally
lacking, even when the technical ques-
ton became distinctly favorable. So
far MS the known movements OF money
show thp banks received less than
ST, 900 900 this week. The Increase OF
$753S, 500 shown by the statement IL
supposed to be due to some special
movement OF cash from nOar-by cities
In which single bank has been con-
cerncd This Item figured more largely
in the deposit Increase than did the loan
expansion of Si.S74.0OO. Therefore, In.
splte of the swelling OF the reserve re-
quirement by nearly s3,000.000. the nc
tiinl surplus Is Increased by si.G0S.5aO.
Stock market activity has been fully
maintained during the week past, but
the digestion OF profits has made In
roads upon prices Mt many points and
the opinion that the advance WINS In
danger OF over-eStending itself has
gained force. The notable strength OF II
few stocka has been due, to some extent
mt enst. to special cnuHcs. and hns
served MS Il strong sustaining inNu-
cnce. The rcncttOnary tendency would
undoubtedly have been more marked
had II not been for this sustaining In
fluence,
An active business has been done In
bonds. but It has mt no time approached
the high record volume OF the market
OF January, 1899. Prices are generally
higher on the week. s
United States new ~ advanced Y the
refundlnB 2s when Issued. and old AZ u
and 5s u per cont over the ruling call.
U. S. Bonds.
u. &, rct. ~ reg 1906 u, 3. now Is cou. 1874
do COUPON ....l05 Y. s.. old ~ rog. .li6I
U. 8. EXTRAORDINARILY, s..oid isIcou,ll5a