The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-04-06
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.

Markets.
NEW YORK, April 5.-Money on call
steady at 3G4 per cent; last loan. 3.
Prime mercantile paper, 4A95h per
cent.
Sterling exchange firm, with actual
business in bankers bills at $4S6FSQ
s6ha for demand, and at 81 SS1s94 S3N
for sixty days, posted rates. 81 "a and
81 SLY: comemrclal bills. "a S2@4 S2Is.
Silver certificates, 6O&46lA.
Silver bars, 59&c.
Mexican dollars. Axe.
Government bonds weak. State bonds
strong. Railroad bonds firm.
The stock market continued its active
and extremely Irregular character to-
day There was some hesitation at the
outset, and profit taking was on large
scale during the early hours Of the day,
but the aggressive strength Of some In
divldual stocks, notably Pennsylvania
and Baltimore 6 Ohio, served to sus-
tain prices in the face of realizing until
the latter part OF the day, The market
then developed unmistakable symptoms
of being over-bought and the pressure
to sell in order to realize profits be-
came urgent. The reaction in Pennsyl-
yania and Baltimore g. Ohio left prices
without 4 sustaining prop and they
crumbled rapidly. The Paclfics, the
grangers and some Of the southern rail-
roads were most strongly affected, but
the whole list fell easily. and efforts
to support the market were apparently
withdrawn for the time being The
selling movement was allowed to spend
itself before support was forthcoming.
There was a rally in the last fifteen
minutes. but It retrieved only small
part OF the decline. The operations In
Pennsylvania were on n similar scale to
those Of yesterday and carried the
price almost n point over last years
highest level The very large selling
orders which were detected IN the stock
aroused uneasIness In spite Of the up-
ward movement in the price. Baltimore
& Ohio was rushed ny also to SLY. and
proved unable to hold the advance,
which was unaccompanled by any news
OF further developments to account for
the strength. The top-heaviness OF
Pennsylvania and Baltimore & Ohio de-
cided the reactlonnTy character OF the
market on the announcement OF no div
Idend on Baltimore & Ohio common
stock. Wall street was full Of rumors
Of further combinations already effect
ed or to come In the trunk line terri
tory. The rumor Of combination OF
the coolers were persistent md raised
Tho nrlcea AZ those stocks for 4 time.
hut they yielded sharply on denlals OF
the rumors. Various minor roads In
New York Central territory were af-
fectcd in the same way. There was n
very general wiplnR out Of gains OF this
character In the late reaction, The
Hooking Valley stocks showed notable
strength on REPORTS ot large earnings,
the common crossing 10 and retaining
a net gain Of 49, The general news
and conditions continued favorable to
values, money working easier and good
assurance being afforded OF n favor
able bank statement. Reports OF earn
lngs. especially Of soft coal ronds. were
notably large. London was seller OF
stocks here. with IN effect on sentiment
out NJ all proportions to tho volume OF
the transactions. The sensltlvenesS or
the market to this influence and the
continued nrmness Of sterling exchange
while London buys stocks leads to con-
siderable questioning NJ 10 whether FOR
cign operations are nat conducted IN
der cover and through channels other
than those under observation.
Dealings In bonds continued on very