The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-08-29
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.

NEW YORK, August 2S.-Mopey on
call easy at 1A91E per cent. Prime
mercantile paper, i941s per cent. Ster-
ling exchange easy. with actual busl-
ness in bankers bills at 81 S71s for de-
mand, and at 81 s3Ba4si for sixty
days; posted rates, S5QiS5E and
s4sSk94 So; commercial bills, 81 sSAQ
4 s3si.
Bar silver, 6lhsc. Silver certificates,
6l*9e2hc. Mexican dollars. 4s4sc.
Government bonds weak. State bonds
inactive. Railroad bonds irregular.
The accumulation of a short interest
during the day. which had continued
for rather more than week, offered an
opportunity to-day for action by bulls
against the bear interest. The demand
from shorts proved sufficient to check
the declining tendency. which was in
evidence in the early dealings, and TO
bring prices back to about last nights
level. There the recovery stopped and
prices dropped again In the final deal
ings making the close heavy and
lethargic. The market continued steady
and narrow, and the volume Of dealings
fell below yesterdays 200,000.share level
The bulls found matter for their brief
turn in the railroad earnings reported
for the day in reversal of the dis
courasing tenor of yesterdays rumors
rDtY rCfi 10 do, nd tn .
decline Of q semi-annuai dividend of 2
per cent. on the preferred stock OF Chi
cage. indianapolis & Louisville. The
bulls made the most OF the incident,
and put the preferred stock up II.
points and the common 1S. There was
continued pressure against Sugar In
the opening dealings. but the stock raj
lied Ia on 4 correction In the Sugar
cables, showing 4 rise instead of de-
cline in the price OF raw sugars. This
was taken to show that American re-
tlners were again In the market as pur-
chasers OF raw sugar, and to indicate
that the season OF active business for
refining would extend beyond the usual
period to-day. Rumors ware circula ted
that in consequence the dividend on
Sugar would be increased, but the de-
mand FOR Sugar certificates was salts.
fled with, covering of the short interest
and the stock closed with gain OF
only Il. The statement for July of the
Atchison system was also made the
most OF by the bulls. Net earnings In
creased more than one-third over those
for last year, Notwithstanding Sigh:
increase in operating expenses. con-
pared with decrease In operating .N-
penses for several months past. The
anthracite coalcrs showed soma hcav-
mess on fears OF labor troubles. Amari-
can Hoop preferred weakened sharply,
but the iron and steel stocks generally
were pretty steady on the favorable
reports OF trade outlook.
Brooklyn Transit advanced on COW
ering, but eased or al the last. There
were wide movements in 4 few !ndivil-
ual stocks, which were unexplained by
any news. The money market contIn-
ued to benefit by the redemption OF ,he
United States extended IS, and by soma
receipts OF gold from the Pacific coast.
Rates were not Quotably changed. D:s-
count rates hardened In London. while
sterling exchange nevertheless contIn-
ued easy as was the case yesterday.
This contradictory movement caused
some puzzled conjecture in exchange
circles. The volume OF merchandise ex-
ports from New York for the week OF
&l2,lS3,Gs9 AN Increase OF ss,277,96a over
last week, may offer the explanation.
There was no feature In the bond
market, and the price movement con-
tlnueI irregular. Total sales, par value,
$4,000. United States Is declined .
per cent. in the bid price.