The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-06-21
FINANCE AND TRADE.
The Features OF the Money and Stock
Markets.

1850
NEW YORK. June 26.-Money on call
easy at 1ls@l% per cent; last loan, ~.
Prime mercantile paper, 31saAa per
cent.
Silver certificates sOa6lc Bar silver
60hc. Mexican dollars 47Ac.
Slate bonds easy.
Railroad bonds heavy
Sterling exchange easy, with actual
business In bankers bills ut 81 S6E9
ssSs for demand, and s. $500 S4% for
sixty days: posted rates, 81 s5is and
"a sS1s; commercial bills. 81 S3hg4 S3%.
The stock market made some head
way during the early part of the session
agalnst depression and an average level
OF prices materially above last night
was established. Room traders were
inclined to take the long side for
turn. under the impression that the
market had been oversold and a rally
was due. But before the end OF the
session large offerings of stocks were
thrown on the market, embracing all
the principal groups of securities dealt
in. Earlier gains were more than
wiped out, the decline from the best
in the active railroad stocks running
from 1 to ~. The net losses were most
ly fractional, but some OF the speclalties
show wide declines. and the same is
true of some OF the dormant stocks
which have not been dealt in during
the late period Of weakness. The chief
ground of the early strength in the mar
ket was the higher range Of prices from
abroad and the disposition of London to
buy stocks here. 1t was evident that
more cheerful view was taken in for
eign quarters of the Chinese situation,
and British consuls hardened a shade,
In spite Of the stiffening of the Lon
don money market The chief influence
IN turning the tide OF sentiment to-
wards the bear side was the acute
weakness developed in Sugar and
Brooklyn Rapid Transit, and in other
specIaltles by sympathy. The bears at
tackled the Brooklyn strike with great
confidence, and encountered little oppo-
sltion in hammering the price down on
account of yesterdays judicial opinion
against the legality of ten cent fares.
After selling at 64lk in the morning the
stock was forced down to 6Qh In the late
dealings. The drop in Sugar extended
to over four points. and was without
special explanation. All of the gas
stocks were acutely depressed, the de-
clines extending from ~ in Reople's
Gas to 5% in Brooklyn Union Gas.
Other notable declines were Cotton Oil
preferred 5; Chicago Greatwestern pre-
ferred, Y, on disappointment over the
failure to declare dividend: the to-
bacco stocks, General Electric and New
York Air Brake, from ~ to !. These
violent declines had sympathetic eff
feet on the whole list. Weakness in the
railroads was aggravated by the re-
newal OF crop damage reports, and not
only the grain-carrying roads, but the
cotton roads also, were affected by this
cause. Some OF the selling was said
to be of stocks held by bankers for col
lateral, which had been held for some
time past to give opportunity to the
customers of the firms concerned to
take up the stocks. The money mar
ket hardened appreciably. and the pos
sibIllty of quick lnroads on the small
surplus reserves of the banks receive
increasing attention. To-day's engage
ments of 81, 100000 of gold for shipment
to France was about what was expect
ed. and sterling exchange eased off I'M
der the offerings of bills against the
shipment. Discount rates hardened
both in London and Berlin, and sterling
fell a fraction In Paris, so that it is
considered probable that the demand
for gold Is not yet satisfied and gold
is expected to go out on Saturday.
The bond market was dull and prices
were lower. Total sales, par value,
S1,25O.OOO.
United States new As declined 4 in
the bid price.
q. s. Bonds.
u s: RsfqInalng s new 4s rsg.1 l33i