The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-07-30
FINANCE AND TRADE.
the Features Of the Money and Stock
aAttt Markets. ~

E..ttt H 41uEhetS. - 81. ff.#l.4etta'
Z NEW YORK, July 2S.-NIoney on call
nominal; no loans. Prime mercantile
paper, 4Q4& per cent: sterling exchange
steady, with actual business in bankers
Dills at 81 SI& for demand and at 81 S37s
Tor sixty days; posted rates, 81 SilsQg
8 70 and 81 SS44 SSls. 80
Commercial bills, 81 1901 sS1s; bar
silver. 6O!sc; silver certificates, GAG
G21ac. Mexican; dollars, 4Sc. State
bonds inactive; railroad bonds irrcgu-
lar. ~ B. !; - II " IN
There was almost nothing in the days
stock ;narket5t to Interest any, one on the
outside OF the small circle OF profess
sional operators in stocks who conduct
cd all the business Prices advanced
inlthe first hour, and declined after the
appearance of nn unexpectedly strong
bank statement. Small net losses are
the rule as a consequence. The feature
was u perpendicular drop Of points In
sugar, after an opening advance Of
sc. Tie reason assigned, was ru-
NOR Oh u strike in one Of the companyS
renneries. The rumor was denied
without materially Strengthening the
stock Selling orders to. stop losses on
the long side were, uncovered at the
DECLINE, and theSraid on, the stock was
doubtless madeFwith the purpose OF
uislodging these orders. The bears
were content to'take their profits, and
the stock quieted down.
Brooklyn Transit was bid up on con-
tihued rumors of good annual report,
ana burlington was bought on the be-
liet that the June report would show
net earnings that would compare IA
Norably with those OF other roads. The
ptn Il
to be realizing, and was based on the
supposition that shorts would cover on
the good bank statement. But there
did not seem to be any shorts. and the
market sagged off to the low point OF
the morning. The closing was heavy.
AS the additional deposits In the
banks were largely cash. the surplus re-
serves benefited to the substantial ex-
tent OF $3,454 ,075. = The field OF the loan
expansion is notSery clear. Certainly
new loans did not find their way into
stock market operations. The increase
OF over million In the outstanding
circulation Of the banks is due to the
completion OF plates for printing notes
IN Washington. work on which has de-
layed the Issuing Of notes already ap-
piled for by the banks. A recovery In
sterling exchange IN Paris to the high
IS'.t "a NhS Neeh.Stilu ~ SlluFp ElSt IN
Berlin discounts We're the features Of
the day bearing on the question of gold
exports next week. rs
The, bull interest in the stock market
demonstrated to their own satisfaction
early In the week that their campaign,
while easily successful In advancing
prices, was cntirelyNabortive in inviting
any outside demand for stocks. 1t was
easy to bid up prices. as there was no
large selling OF stocks. but there was
practically no demand outside of that
from the professionals themselves.
The dizziness Of the bond market Is an
evidence OF the present caution of cap
ital. The usual irelnvestment OF July
dividends and interest. although the
largest amount was dlsburscd this year
In the country's history. has heen en-
t!rely lacking In the bond market: EJn-
Con and Berlin are reported heavy SELL
ers of high grade American railroad
bonds. But no such transactions have
been recorded on the stock exchange.
United States refunding IS when Is
sued, 3's, old As and SIS advanced 4 per
cent in the bid price. l.a