The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-09-17
FINANCE AND TRADE.
The Features Of the Money and Stock
Markets. 7t

nominal at 1G1is per cent. Prime
mercantile paper 4g5A per cent. Ster-
ling exchange with actual business in
bankers bills at 81 S6ts for demand and
atst ssi4 for co days; posted rates 81 stap
SAY and 81 S7ls@4 SIS; comercial bills
81 S2AG4 So. Silver certificates GAG
saNc. Bar silver 62Hc. Mexican dol
lars 49hc. State bonds inactive; rail-
road bonds inactive; government bonds
strong.
The same factors which caused the
break in prices in yesterday afternoons
stock market continued In force to-day,
and more business was done during the
two hours Of the Saturday short session
than on any full day for months.
Liquidation was plainly In evidence,
and the bear operators added their SELL
Ing 10 the burden of the market In the
confidence that lower prices would en-
able them to cover at a profit. The de-
clines which they brought about In this
way uncovered. many stop loss ORDERS,
which had been placed In the market
as a precautionary measure by recent
speculative buyers. The points OF
weakness madeit evident that the H.
quotation was largely Of speculative ac-
counts. In Peoples gas there is large
short account already. and the demand
TO cover was large enough to keep that
stock comparatively steady until near
the close. Otherwise the weakness wss
quite general and evenly distributed.
The principal railroad stocks are down
from tolN per cent, the coalars. srang.
ers, Pacilics and Trunk lines being the
principal suffers. The steel stocks aud
the leading specialties show the same
range Of losses. These were extended
from to points in Sugar, Tobacco,
Metropolitan. General Electric, North
Western, Erie first preferred. and Balti-
more 6 Ohio preferred. The bear trad
ers covered in some stocks, but in 9TH
ers the selling continued In large VOL
ume to the close, which was active and
weak. The decrease in the. cash re-
serves ofsi.954,2OO came close 10 the
preliminary estimates, showing that
national bank notes have not taken shs
place OF legal tenders to any extent Ia
the outward currency movement The
loan expansion OF s7.o22.6o0 IS largely
due to the operation OF the German loan
subscription, and is a reminder that
even IL no gold goes out In payment Of
the subscriptions. the demands upon
the local money market Will have the
erect OF absorbing available credits,
| me letharsy OF the stock market was
uhfeiie'ed durlhs the week. ana the
limited activity and the narrow move
mch's Oh prices were nothing more than
flpPies on the SURFACE oil 4 deep and
stashaht pool. inc puzzled brokers
nave seen one and another assigned
Gauss Oh the 1orpialty eliminated by
events, WINE Inc money world persists
IN us aostention from any dealings in
securities '':
some POSITIVE depression has resulted
from the declaration OF the anthracite
miners miners STRIKE. but the effect on prices
even on the group OF coal carrying rail-
foaas mas been small. While the posi-
Dillties OIL harm to values threatened
oy ,,he strike are FULLY recognized, there
Is an OPTIMISTIC Keeling In Wall street
mat Inc disauection either will not
spreaa lar or VIII be adjusted before 1t
goes 10 extremes. Favorable Develop
'heh's are equally ignored. Current
rai'foau earnings, though In some cases
NOT iuii! up TO last year'shish level. are
oy no means so much impaired as was
apprehendeu when the dull period OF the
STOCK market pcsan. Many railroad
systemS SHOW handsome increases over
iAss year IN spite OIL the larger expense
Oh operation. me renewal OF the de-
manu- ios IRON ana iron products has
tne s''- I7E renewed apprehension over
she future OF that Important Industry.
anu 'he urgent demand for cotton
ihehes up IN inc money return for the
s''of'hess OF the crop. Partly by pre-.
cess OF eiimina lion OF these various sup
poseo causes OF dullness, Wall street
mas reverted 10 It's earlier apprehensjons
over the autumn money market.
Inc weeks events have resulted in
some hardening or money rates in New
YORK, ana the tone Is significantly firm
or. Eafly In the week 1t became known
that preparations had been made by
member OF the British loan syndicate to
ship gold this week. IN y,9pp. thf, i,aY.H