The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-10-04
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.

NEW YORK, Oct. 3.-Money on call
flrmer at 2A@21s per cent. Prime mer-
camille PAPER 3Gt5M per cent. Sterling
exchange weak, with actual business In
bankers bills at 81 SAN for demand and
at 81 slB@4 SlR for sixty days; posted
rates 81 S2@4 S2is and 81 S694 SGE.
Commercial bills 81 SO1s94 ST. Silver
certificates 63aGG5c. Bar silver GS;;c.
Mexican dollars 50Sc.
Government bonds steady.
State bonds inactive.
Railroad bonds irregular,
Wall street was considerably puzzled
by the resumption to-day of aggressive
tactics for the advance after the bull
campaign. projected on Monday. SEEM
ed yesterday to be abandoned. But
while the motive of the buoyant rise
was difficult to discern. the force and
the proportions of 1t we're sufficiently
impressive TO take the courage out OF
the bear party and to induce heavy COW
crinG all around. The small bears, who
had resumed operations for the decline
yesterday. were the first to fall victims
to the manoeuvres of the bulls, who.
however, gttve indication of being after
larger game, and pursued their advan-
taSe with great confidence and abound
ing resources. They drove some long
standing shorts to cover and ultimately
effected buoyant rise in the whole
market, which closed strong and active
at the highest level Of the day and at
net gains ranging from one to over two
points for large number of active
stocks. Opening declines In u number
OF stocks seemed only to afford the
better vantage ground for the advance,
which was thereby made the more i'm
prcssiv,. The acute depression mani
Tested by a lew Industrial stocks was
without effect In deterrlnG the bulls
from their manipulation In the market.
Inquiry of commission houses falls to
find any trace OF buying orders from
outside sources, and opinion Is agreed
that to-day's movement was practically
in professional hands. A long persist
| ing bull Is showed to have Joined by
some OF the powerful operators who
have recently returned to the street or
campaign against the shorts. Stocks
which have recently been the special
| target for-bear attack reflected the
most urgent demand to-day. Missouri
Pacific, which is n leader of this class,
| showed gathering strength during the
day In connection with yesterdays an
nual meeting Of the stockholders In the
| ST. Louis & Southwestern railroad. the
action ut which Is supposed to fore
shadow more Intimate relations be-
tween the Iron Mountain and st. Louis
southwestern railways. From the early
low point Missouri Pacific was carried
up to 3B per cent. Burlington also re-
fected demand of large outstanding
short interest and was marked up an
extreme 2M.. Baltimore & Ohio, North
ern Pacific and Louisville were also
prominent In this class, but the move
ment gathered force and breadth md
ultimately spread through the whole
list. The most buoyant period Of the
market was due to the circulation of Il
rumor that President Mitchell, OF the
United Mine Workers. had called the
coal strike Off. which completed the
discontinue OF the shorts Even Ten
ncssee Coal. which had sold down az
on the fear that no dividend would be
declared at to-mOrrOw's meeting. rail-
led four points and Sugar, which had
| fallen rs on account OF the demorallzed
condition and the deep cutting In prices
In the refined sugar market. rallied IN.
| me continued weakness OF sterling ex-
change was used by the bulls MS an mr.
Gument for the advance In stocks, on
the ground that Imports OF gold could
not long he deferred. A further casing
OF discount rates In Berlin gave
strength TO the argument. but In Lon
don there was n significant hardening
| or discount rates on an expectation that
the Bank OF England will raise Its Of
flclnl rate tomorrow.
! The local market for time loans con-
tinued firm and the minimum rate Cor
call loans was advanced z per cent
from to 2A. with the maximum I'M
changed ut 21s per cent.
Bonds were not much affected by the
activity In stocks and total sales par
value. $9S0.00O. United States bonds
were unchanged In bid price.
U. s. Bonds.