Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-11-03
Silver certificates, 64A@65B
Bar silver, 645sc.
Mexican dollars. 501bc.

Silver certificates, 64A @651sc.
Bar silver, 645sc.
Mexican dollars, 5015c.
L. S. refunding Is, registered. ........ .10415
Do coupons ........................... l0f12
II. S. IS registered .....................,..10 1922
Do coupons Eek. int .109ls
U. S. new as registered. ..............1S 4Ss
L. S. old As registered. .1l513
Do coupons go. lis
L. S. 5s registered. .................. liza
Do coupons NEUTRALITY-SUSPICIOUS.. liza
Government bonds weak.
State bonds steady.
Railroad bonds irregular.
Stocks-To-day's developments in
the money market served fully to JUS
tify the precautionary attitude as
sumed by influential interests toward
the speculation during the present
week Had the borrowing with which
TO hold stocks on margin proceeded
this week, with the headlong eagerneSs
that was shown last week, the effect
Of to-day's furry in call loans in
evitably would have been much aggra-
waited In the first place the available
resources of the money market would
have been much depleted. and in the
second place the contraction of credits
necessitated would have brought out
much more burdensome offerings of
stocks for sale. AS IL was, the spec
ulative holdings Of stocks seemed to be
we'll fortified with time loans. Those
who were not had to face a. twenty per
cent call loan rate, and material
extension in the cash margin required
to carry stocks over the election. Cash
margins of thirty per cent. were de-
manded on a large scale. The hard
ships Of borrowers were increased by
the additional strictness Of lenders
with regard to collateral, the rate be-
ing one per cent. higher for loans
where there was an admiXture of in
dustrial securities than where they
were all railroads. Considerable atten-
ton was attracted also by reports Of
a greatly increased demand for time
loans. 1t was reported thatlhirty-day
loans easily commanded five per cent,
while those for longer periods could
be had for as low as four per cent.
This created feeling of uneasiness
regarding the immediate future OF the
money market. 1t was claimed that
the high rate for call loans was due
simply to the temporary tying up of
money incident to the monthly settle
ments, and that there would be a quick
release next week, or as soon as div
idend and interest disbursements began
to find their way back into the money
market. The sub-treasury was debtor
ut the clearing house to-day to the
amount of s2,392,771 on account of the
government interest payments. The
feature of the preliminary estimates
OF the weeks cash changes is the re-
versal shown in the current of the
Eoney movement with the interior.
The banks have gained on the inter-
ior movement by express to the extent
Of probably near half a million dol
lars. Not until to-day. when $2000 900
was deposited at the sub-treasury for
transfer TO Chicago, has there been
any transfer to the interior through
that medium. As a consequence of
this and the large payments by the
sub-treasury on account of gold de-
posits at Pacific coast points, the Off
c!al statement of the weeks sub
treasury operations shows a gain by
the banks of S963,000. But it must
be remembered that this official state
ment includes a payment on last Fri
day OF checks to the amount of So ,000,-
600 for Australian gold deposited with
the government at San Francisco. This
gold was drawn over the counter at
the sub-treasury by the banks and
therefore figured in last Saturdays
bank statement Allowing for this, to-
morrow's statement is likely to show
q considerable decline in cash re-
serves. Although there has been liz
oidaeiOu III INC SloCh HdIhel, Tue DOT-
rowings incident to the monthly set
Elements are likely to figure in the
loan item tomorrow with the effect
of increasing the reserve requirements.
The poor bank statement thus pre-
figured explains the days events in
the money market. Covering by the
shorts caused a recovery in stocks late
In the day, but prices yielded again in
the closing dealings.
The bond market was dull and ir-
regular. Total sales, par value, $780,
GEO.
United States refunding Is (when