The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-02-09
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.

MAfkeE6.
NEW YORK. Feb. S.-Money on call
steady at .@2h per cent; last loan, 2
per cent. Prime mercantile paper, 495
per cent. Sterling exchange, easy, with
actual business in bankers bills at
81 87K@4 S74s for demand and at 81 SAX
for sixty days; posted rates, 81 $50
( SsM; commercial bills. 81 SS94 SSE.
Silver certificates, 59M9SOhc. Bar sill
yer, 5sNc. Mexican dollars, 47Ac. Gov
eminent bonds, weak. State bonds.
firmer. Railroad bonds, easier,
There was decided falling on to-day
In the speculative interest of outsiders
in the stock market. There was con-
siderable degree of activity and some
irregularlty, but 1t was largely due to
the closing up Of speculative accounts
on either Eide OF the market by pro-
fessional operators. While the market
seemed to be largely in the hands OF
professional operators 1t was sIngularly
free from professional manipulation,
50 far as could be detected. That is to
say, the professional bulls manifested
no disposition to bid up prices where
there was evidence of an outstanding
short interest, but were content to de-
vote their attention to the liquidation
OF their profits. on the other hand, the
bears showed no aggressiveness in Of
ferlng down prices where realizing was
inevitable, but centered THAR attention
on covering up their own short con-
tracts. While this covering demand
from the shorts was In evidence In u
number Of conspicuous stocks, the pre-
dominant disposition was to take profits
by selling out long lines. The center OF
the demand from shorts was Sugar,
and some Of the other industrials. in
Guiding one or two OF the metal group,
showed sympathy. Others Of the metal
group, the local tranctions and the rail-
roads generally showed the effects of
realizing all day. The profit taking was
conducted In an orderly manner and
without any such violent movements OF
prices or furious activity Of trading
ns was the case yesterday, The high
opening In sympathy with London held
the profit taking, but opening prices
were generally the best. There was
continued large absorption OF Union
Pacific after the reaction which fol,
lowed the dividend announcement, and
the ratfroud list generally WIS well In
hand, prices being rallied occasionally
to facilitate the realizing. The report
that the Union Pacific had determined
to close the Ogden gateway caused come
heavlness in the railroads which have
relied on that outlet for traffic to the
northwest. notably Burlington, Rock
Island and Missouri Pacific. The local
traction stocks, which have shown
themselves responsive to developments
in the rapid transit tunnel project, were
weak on the announced decision TO ac-
cept the contractors bond, The stormy
weather prevailing in the west perhaps
had some effect on the railway list
The announcement Of a bond Issue by
the Western Union Company Of twice
the amount first reported yesterday
caused weakness in that stock. The
expectation is growing that Saturdays
bank statement win not show the
money position strengthened, as thu re-
ceIpts from the interior have shown n
fnlllng on, owing in part to renewed
demand from the south to accommodate
a cotton movement stimulated by the
higher price II is obvious that the gain
made by the banks early in the week