Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-06-14

FINANCE and TRADE.

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NEW YORK, June 13.-The Com
mercial Advertisers London financial
cablegram:
The markets here were quiet and
irregular to-day and investment Sc
curities being depressed by fears Of
dearer money and the issue by London
county council of five million per
cent loan at 971a. This is the first
time d fixed price has been adopted.
Previously tenders have been asked.
The favorable news failed to affect
general sentiment.
Americans were more favored, Lon
don, however, awaiting the Northern
Pacific division as clue to the spring
wheat condition thinking that If the
condition is bad the dividend will be
l per cent, while the declaration of 2
per cent. will mean that the rumors
of damage have been exaggerated.
London inclined to pin it's faith on the
southwestern crops even if the spring
crop fails. 1t thinks the bears are
closing their contracts in New York.
Baltimore and Ohio was strong on its
monthly statement.
The bank sold G100, 900 gold in
French coin and lost $4,000 to South
America The selling price of French
coin will probably be raised to-mor-
row. Call money was up, too, owing
to the war loan instalment payment
NEW YORK, June 13.-Money on
call easy at 1902 per cent; last loan
at ia per cent.
Prime mercantile paper 91a@4A per
cent
Sterling exchange steady with actual
business in bankers bills at $4.873s@
4.S71a for demand and at S4.S4A @485
for 60 days; posted rates S4.S513@
4.S81a; commercial bills S4S4@484A.
Silver certificates 60@61c.
Bar silver 601Bc.
Mexican dollars 47hc.
State bonds firm.
U. s. refunding Is (when issued) reg. .10S
DO coupons .;'.................'.... !oS
L. S. Is registered. ......................1G leo
u. ). IS registered. ......................1 O9
Do coupons ACKNOWLEDGEMENTS. .1O9
L s. new As registered ................ .1,47s
Do coupons Observation-Disclosures. 134S4
L. S. old As registered. .................1liA
20 coupons '......'..'...'.......... .!l9A
y. 5. 5s coupons ........................1l 3A
do coupons ......... .u3A
Government bonds strong.
Railroad bonds irregular.
Prices advanced early to-day under
the twofold influence of a better tone
On fereign stock markets and some re-
lief by rain for the drouth stricken dis
tricts in the northwest. The smallness
OF the demand from the short interest
was a commentary on the listlesSness
of the recent bear speculation, notwith-
sanding the highly alarming rumors
which have circulated regarding con-
ditions in the spring wheat belt. The
movement in the wheat market indicat-
ell that the fate of the spring wheat
crop is by no means yet decided. The
northwestern grain carrying roads in
fact failed to share in the strength of
the days market and the grangers as a
group came late into the movement.
Baltimore & Ohio radiated strength
ening influence throughout on the ex-
cellent showing made in its May state
ment of net earnings and the favorable
predictions made by President Cowen
of the results to be expected from the
heavy coal traffic. Norfolk & Western
was helped by the same cause. New
York Central, as trunk line, showed
sympathy. London was a buyer here
to the extent of about 10000 shares
and established the high range of
prices. After the arbitrage brokers
had ceased to operate, the market be-
came exceedingly narrow and listless,
with little of note. The strength of
Americans in London was attributed to
the rains in the northwest Profess
sional traders here also laid some stress
on the expected arrival late to-day of a
prominent financier from visit in Eu-
rope. The export of $500 900 gold, a
figure in excess of the estimates, had
no effect whatever in the stock market.
A feature of the day was the rally in
the steel stocks due to reports OF pros
poets of an charging export demand
for iron. The market closed firm and
with gains we'll maintained The
strength in foreign stock markets was
attributed to the easier money condi-
tions in London and to the expectation
that the Bank of England would re-
duce its official rate tomorrow. The
payment of an instalmen of the British
war loan and the taking up to-day of
a loan for the London county council
OF $25 900 900, having failed to harden
the London money market, there is no
luIlHcl lCdSOA dPpo1 III Tic
tenanee of the bank rate SO far above
the private discount rate. The local
money market shows a slightly firmer
undertone, but no quotable changes as
a result of the gold exports. The sub
treasury operations show that the pro-
cess of taking up the second INSTALL
ment of government deposits, amount
ing to $5,o00,000, have not commenced
and there are some surmises as to the
effect of the operation on the money
market in connection with the renewed
export demand of gold. No deep ap-
prehension EXISTS, however, as to the
immediate future of the money market.
Sugar and the New York city stocks
shared in the strength of the days mar
ket.
The bond market was dull and ir-
regular. Total sales par value S1,100,-
600.
United States IS advanced Il and the
new As Is in the bid price.
ALFRED E. MEYER CO.,
No, SO Twelfth Street.