The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-10-01
FINANCE AND TRADE.
The Features of the Money and Stock
Markets,

NEW YORK, Sept. 29.-Close: Mo-
ney, on call nominal; no loans; closed
offered at 2 per cent. Sterling exchange
weak. with actual business In bankers
bills at 81 S5.sG4 s5s. for demand and
at 81 s2H for sixty days; posted rates
81 s39i S31s and 81 S7@4 SIX. Com
mercial bills 81 S2k94 S2Y4. Bar silver
Gage. Silver certificates 65kdl6i1isc.
Mexican, dollars 49Ac.
State bonds weak.
Railroad bonds Irregular.
The stock market was narrow and
professional affair to-day which ended
with show of animation and strength
on account of an active demand from
the short interest. which covered on. the
bank statement. This clement saw en-
couragement in the fact that the In
road upon the banking surplus was re-!
stricted to less than si000,000, while q
much heavier depletion was expected.
This sentiment seemed not to be- az
fected by the fact that q decline In the
reserve requirement OF over S3,000,000
was responsible for this result which
was brought about by contraction of
S5.66S, 400 in the outstanding loans for
the banks. The actual decrease In cash
was slightly in excess of that OF last
week. as had been expected. Besides
the liquidation in the stock market, n
large volume Of time loans Is said to be
maturing at this time and the proceeds
OF these the banks are inclined to hold
for higher rates. as explained below.
The prospect of favorable developments
In the coal strike situation. over Sum-
day increased the disposition Of the
bears to cover. and the recovery In
prices from the early low level ran he
tween l and . points under the princi-
pal active stocks. not few. OF which
showed net gains of point or more.
The early selling of stocks was encour-
aged by selling for foreign account and
by rumors Of financial difficulties in
Berlin. where the exIgencies of Il settle
ment caused jump Of 2 per cent In
the rate for short discount bills The
steel stocks were rather firm through
out. $50.
limitations from officials Of, several
Of the great trunk lines Of an intention
TO provide for the years need forthwith
at the present price Of S26 for steel rails
helped the group. Large receipts of
raw sugars doing away with some of
the danger Of shortage helped sugar.
a feature was the further marking
down OF sterling exchange rates by the
exchange bankers. In spite Of the
nominal character OF the Saturday
market.
Prices Of stocks have shown some
violent fluctuations during the week
and mounted TO Il level considerably
higher than on last Saturday. The few
erishness OF the market has been al
most wholly due to the difficulties In
which the bear operators became in
volved through their too great eagcr-
ness to discount the prospective de-
cline In prices. The unwieldy proper
tions to which the bear account had Mt
tanned made It vulnerable to attack
and when the probability became
known OF n settlement OF the anthra-
cite coal miners strike. there was n
powerful and influential combination
OF spectators ready to take quick adj
vantage OF 1t and help the up-turn
against the bears by every manipula-
tive device known to the professional
operator. ~
The bond market was weak In the
earlier part OF the week. but recoveries
In come Issues made the market Irrcg-
ular later. Dealings were not large ut
any time.
United States new rs registered aa-
vanccd "a and the old As and o. dcclin-
cd u per cent In the bid price.
o. S. Bonds.
u, s. Rcfunulng III s. now 40 rn,- 1, tiLI