The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-08-20
FINANCE AND rRApE

to'sSispS1 NeSttt- 90. SleEHu6 eACnunSe
steady. with actual business in ban
Gers' bills at 81. s7As for demand and ut
81 S4,for sixty days, posted rates, 81 $50
4 S5tss and 81 ssAGl! So. Commercial
bills, 81 S3AG4 say. Silver certificates
EslA962hc. Bar silver. 611sc; Mexican
dollars, 4S.sc. State bonds Inactive.
Railroad bonds steady. Government
bonds steady.
But for the interest aroused by an
analysis otthc Brooklyn Rapid Transit
annual statement. professional. opera
tors would have had but little material
to influence prices. Although the report
showed that a shade over per cent
was earned on the stock discussion of
specific Items was unfavorable. For
instance, the high ratio OF operating ex-
pensesiand outstanding loans OF 81, O00,-
600 aroused comment. Decided pres
sure was exerted against the stock from
the outset, an extreme loss Of per,
cent being made, with the net loss re-
duced to rs per cent on purchases by
the short interest. h
2% In Peoples Gas q fall Of 2 per cent
was without adequate explanation, but
this stock also recovered somewhat In.
the final dealings. These movements
were the chief features OF the market,
Its rarrowness being accentuatcd by
the absence Of London operations, It
being q holiday there Railway stocks
were relatively better sustained than.
the general run of .specialties. The
publicationsof the second week OF ku-
gust earnings for many lines showing
numerous increases acted as prop for
this division. These statements DEM
onstrated that tonnage was increasing
In widely separated sections For the
southwestern quarter. Missouri Pacific
showed n gain OF SIC. 900. In the south
Norfolk & Western led; with S56;9T0. and
the west was represented by gain of
SCI. f25 in Chicago Great Western. -
As the time approached, for the pub
lication OF the bank statement, business
became very restricted. The state
ment met general expectations as to the
cash loss OF sS,341,SG0. Accommodate
1 lions to misunderstanding syndicate In
connection with the British loan rac-
count for the greater part OF
the increase In loans to $685.
900. Deposits were reduced s3.09l-,
GOO. and the general effect was the
lshrinkage in surplus reserves of $685.
800. a replenlshment OF the banks
losses this week is expected TO occur
speedily. adyices from PACIFIC coast
points announcing the receipt oGf4, 5OO,-
600 Alaskan gold. This. It Is believed,
Will be made available to local banks
by government.drafts on the sub-treas-
ury here. In addition. payments are
now being made on account of the re-
demption the old government. 2's, M
volving some S20.0OO.000. With these
factors taken =into consideration, no
general uneasness is felt as to the i'm
mediate future by the money market.
The Wall street axiom. when gold
goes out, stocks go down." for once was
exploded this week, as the shipment of
over SS,0JO,O00 was attended by rising
prices. AS the expectation of over
100000 gold during the past two
weeks does not make serious inroads on
the country's holdings, and as constant
accessions are being received from nat
ural sources. Wall streets equanim!ty
was not surprising When the drain
will be most keenly felt Is In the re-
serves OF the New York city banks.
Discussion of It's influence on future
money conditions had some weight on
the market, values In the closing days
( OF the week. In consequence of the
sales OF sterling bills against the gold,
rates for sight drafts reacted one cent
? to the pound. A withdrawal OF inter-
est allowances and q currens rate OF
81 21k for demand makes further ship
ments unlikely. The terms OF the bond
sale TO the syndicate call for an INSTALL
ment OF % per cent OF purchase price
Sept. II. Whether the balance due
on the operation Will be retained here
us an Offset to European Indebtedness
here, Is conjectural. With the govern
ment's foreign trade statement showing
a balance in our favor In seven months
of o9.000,000, gold importatlons In the
fall seem we'll assured. Monetary con-
ditiOIs abroad relaxed, money and dis
counts easing In London, and the con-
tinent also showing relaxation.
In New York stock market movements
individual developments accounted for
the most notable features. The sItua-'
ton. rs whole, reflected an improved
feeling early, and business enlarged.
Optimism was expressed by some inter-
ests, and their efforts assisted a sub
stantial rise. 1t was pointed ont that
the general situation did not augur well
for bull movement. the perplexities
OF the Chinese situation. the political
problem and the question of the crops
being cited as obstacles. Nevertheless,
general and material rise was effected
in. which the best class OF railroad
stocks figured. b
Prices in the bond market concerned
closely TO the developments In stocks.
Interest was most marked In middle
grade Issues.
United States refunding 2's, when is
sued. advanced Y per cent, new and
old Is u per cent and 3s Il per cent
In the bid price. The SIS declined X
per cent.
q. S: Bonds.
% V when rs1I Ias,,HS 7: new Is reGi ls;