The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-01-25
FINANCE AND TRADE.
The Features Of the Money and Stock
Markets.


NEW YORK, Jan. 24.-Money on cali
steady at 21s@sM per cent; last loan at
3 per cent. Prime mercantile paper ~
@51s per cent. Sterling exchange Arm,
with actual business in bankers bills
at 1887 for demand and at 81 81 for 90
days; posted rates eS4, sl1s@4 IS and
81 S71s@4 IS; commercial bills 81 $50
4 ssh. Silver certificates 5sh@6O1z.
Bar silver Es%c. Mexican dollars 471sc.
Government bonds weak. State bonds
weak. Railroad bonds irregular.
Prices on the New York stock ex-
change seemed entirely subservient to
the movement OF prices on the London
exchange. The first sales of interna-
tional stocks showed sharp gains in re-
spouse to the rise achieved earlier on
London exchange. These opening gains
conform very closely to the net gains
for the day. 1t seemed impossible to
achieve any movement Of prices after
the opening and the almost stagnant
market drlfted along at about the
opening level for the rest Of the day.
The gains were closely proportioned to
the previous days losses and probably
measure the rectificatIon of the short
contracts put out yesterday on the ex-
aggerated rumors of British reverses in
South Africa. The whole movement
cannot be said to be more than senh-
mental as the actual news Of the day
failed to throw any light on the Boer
war situation.
In the list OF industrials and special,
ties where the properties concerned
would feel no effect either from success
or defeat in South Africa, the move
ment of prices followed sympathetIcally
that Of the railroads. Dealings In this
department continued much larger
than those in the railroad department,
but were strictly professional. The
only reason discernible for the advance
in prices was that there were declines
yesterday. A considerable demand de-
veloped later In the day for American
Steel & Wire which carried 1t up an
extreme 2% per cent and lifted other
iron and steel stocks in sympathy. The
stocks Of properties operating New
York public utilities, also made a good
show OF strength. News bearing on the
industrial outlook was all favorable.
st. Pauls third week statement, leading
the returns for that period, showed an
increase of over $4,000 over last years
unprecedented level Of earnings. There
were good third week statements also
from Wabash, Denver & Rio Grande.
and Rio Grande Western. Less assur-
ance was felt with regard to the finnn-
clal outlook. Money rates hardened
fraction in London and Berlin and
there was a sharp fractional rise in
sterling exchange. Quotable rates for
money were not changed in New York
as funds continue TO accumulate in new
banks. But the rate OF accumulation
shows a considerable falling of from
that of last week. A further reduction
in the Bank OF England rate Of dis
count has been anticipated, but whether
to-days hardening money will result IN
disappointing this expectation remains
to be seen.
Tho absorption of railroad bonds con-
tinues on moderate scale, but to a
lessened extent, owing to the smaller
inflow Of money. There we're some
weak points in the list making the mar
ket irregular. Total sales par value
E12IO.OOO.
United States new IS, So coupon u
and old As coupon declined x per cent
and do registered v per cent in the bid
price.