The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-06-30
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.

NEW YORK, June 99.-Close: Money
on call easy at 1ls42 per cent; last loaI
per cent. Prime mercantile paper S%q
~ per cent. Sterling exchange firm
then easier, with, actual business II
bankers bills at 81 86k for demand ant
at 81 Ss% for sixty days. Posted rates
81 S4la@4 So and 81 S7h. Commercial
bills 81 S3G4 S3A, Bar silver 6lAc. Sill
yer certificates Gl&q62%c. Mexican
dollars 4S1sc.
Government bonds strong.
II took about fifteen minutes Of trad
ing after the opening of the stock ex'
change this morning to demonstrate
the Discrimination Of stocks to continue
the advance which aroused the hopes oil
the bulls yesterday. The market start
ed of with u great show OF animation
and semblance of strength. Prices oil
Americans were UP in London, but
whether this symptom was the result OF
operations by cable from this side Is
omen to inference. At all events, the
advance In prices seemed to be design.
ed for the benefit Of the shorts, who
were anxious to coVS after yesterdays
rise. The demand from this clement
was so literally fed that 1t made slight
impression on prices and afte: 1t was
satisfied the market became notably
soft. The market afterwards was ir-
regularly downwards en- smaE vol
ume of business. great many bro
kers left the street and the market fell
into a condition of lassitude that is sc
characteristic of the season that 1t is
called midsummer tdulIness," even
when 1t occurs in other seasons.
The languid movement OF prices dur
Ing the latter part of the day was large.
ly governed by the fluctuations in the
wheat market, stocks hardening slight
~ with the midday >reaction in wheat
and sagging again when the price of
wheat rallied. Sugar and some, of the
preferred steel stocks gave varying ev-
idence of strength. Otherwise there
was no striking feature in the market
and the closing showed very small net
changes and irregularIty and uncertain
fluctuations. The money market con-
tinued quiet up to the closing consider
ing that it is practically the last day to
complete preparations for the semi-an-
nual disbursements of dividends and
Interest which are the largest in the
history of the country Call money
was slightly harder at the opening, but
the rate was not free from suspicion OF
manipulation in the interest Of reac-
ton In the stock market,
It is expected that the banks will
show a small net loss in cash in to-
morrow's statement and the estimated
receipts from the Interior not being suf-
Gclent to offset the loss on sub-treasury
operations But MS last weeks unex-
pectcdly large decrease In reserves Is
supposed to have anticipated the re-
quirament for Mondays payment into
the sub-trcasury Of the called govern.
ment deposits, It IS expected that this
weeks official figures of sub. treasury
operations may over-stntc the actual
demand made upon the banks. There
has been no evidence either that the
surplus has been encroached upon by
expanding loans, The sale Of with
held sterling bills during the week has
been accompanied by LIQUIDATION of
loans which were secured by the sterl-
ing bills MS collateral Unless the de-
mand for the semi-annual settlements
has Offset this loan contraction de-
crease In the loan item is therefore
probable.
Bonds were in better request than
stocks aud prices ave higher. Total
sales par value. sl.aG5,OOO
United States rcfuudIng Is when is.
sued advanced x, and the old Is 4 per
cent in the bid price.