The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-02-06
FINANCE AND TRADE.
The Features Of the Money and Stock
Markets.

Markets.
NEW YORK. Feb. 5.-Money on call
steady at 202M per cent; last loan 2M
per cent. Prime mercantile paper 405
per cent. Sterling exchange firm, with
actual business In bankers bills at
81 S7A@4 SIX for demand and at
81 $780, s4IA for sixty days; posted
rates 81 SIS and 81 ssh. Commercial
bills 81 SsM@4 "a. Bar silver COO, Mex
lean dollars An. Silver certificates
5ssk@6Ohc.
Government bonds strong.
State bonds inactive.
Railroad bonds irregular.
The stock market was subject to a
notable promise Of digestion to-day and
came through the ordeal remarkably
well. Stocks which were leaders in &c.
tlvity and strength during the move
ment of last week were heavily sold to
take profits. The profit taking was met
by so considerable an outside demand
that offerings were absorbed with little
difficulty and without any material
concession In price being made neces,
sary. Indeed, any approach in prices to
Saturdays level resulted in notable
hardening in the market, the surface
becoming practically unyleldlnG nj
Saturdays level. Offerings OF stocks
fell to minimum, and buyers, in or
der to secure stocks, were obliged to
raise their bids to a point to Yield pro.
fits to sellers on their last weeks pur.
chases While professional operators
were thus taking PROFITS at some points
in the list they were replacing their
funds IN order stocks which had not
moved last week, or In which the move
ment had been only inaugurated. Thug
with trading proceeding on nm active
scale and the movement Of prices taxi
ing on n considerable degree Of lrregu-
laTity, the market presented all the
characteristics Of q true bull movement
Inward movements In prices were cas-
NV achieved and the speculative sentl.
ment showed itself quick to respond to
any news developments regarding Spe-
cinI stocks. Thus a number OF railroad
stocks RESPONDED quickly and emphat
ically to returns Of earnings for the
fourth week in January showing large
Increases over the high level Of last
year. The leaders OF the railroad llst
were the Norfolk a Webpefn .BtOckh' tne
fourth weeks statement showing an
increase Of Sl22,S6I over last year. Az
this Is one Of tho roads which by re1.
son Of previous heavy OUTLAWS. is able
10 reduce the current rate Of operating
expenses, tho showing was doubly Of;
fective. Tho common stock advanced
SN. md the preferred ~. Louisville,
st. Louis & San Francisco, Denver 4
Rio Grande and number OF other
roads responded to good statements Of
earnings. st. Paul and Burlington
showed renewed strength on reports
Of an Improvement in the movement Of
grain over western lines In addition to
the extraordinary movement Of general
merchandise. The iron and steel gtooks
continued very prominent, and the
leadership here was shifted also, under
the influence Of realizing In AmericaH
Steel g. Wire and some others. the
new leader Of the group was National
steel. which was very heavily bought
on floating reports OF enormous Darn
lngs for the past year to be shown by
the Forthcoming report. Reports OF q
similar kind have been unheeded Ioi
months past in Wall street, hut to-day
Tho stock shot up under their INFLUENCE