The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-07-07
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.

NEW YORK. July G.-NIoney on call
at IL per cent. Prime mercantile pa
per 3HG4E per cent. Sterling cx-
change firm, with actual business in
bankers bills at 81 S6ss for demand and
at 81 SS3sG4 81 for sixty days: posted
rates 81 S5G4 S7E.. Commercial bills
81 SSGpi S3H. BAR silver Glssc. Silver
! certificates G2462Sc. Mexican dollars
| iSc.
Government bonds steady.
The professional operators In stocks
who have been able to manipulate
prices for an advance, owing to the
small amount OF llouting stock in the
market. found their efforts 10 maintain
the higher level unuvailing to-day.
There was nothing in the news of the
! day that eNertcd any marked influence
on the market and the relapse must be
| attributed to the natural reaction at
tending profit taking on IN advance
and the renewed selling for short ac-
count attracted by the higher level OF
prices and the palpably siaky condl-
ton OF the market as the day progress
cd.
The lower prices for Americans In
London had little effect as on previous
days. and the professional bulls re-
sumed the tactics which were so suc4
cessful yesterday In lifting the level OF
prices. But II became manifest early in
tho day that yesterdays sustaining In
iluence In the strength of New Jersey
Central and Its allied stocks was lack
Ing to-day. Nevertheless, u consider
ably higher level OF prices was obtained
In the Changers. Baltimore * Ohio and
Missouri Pacific. Sugar. the local trac-
lions and Peoples Gas were also
strong.
The steel stocks suffered from realiz-
Ing on the published report that steel
interests were comforting to maintain
prices. The London selling was persist
ed In later than usual and had the Of :
feet In combination with the break Nv
tho steel stocks. The later efforts OF
the bears centcred on Louisville &
Nashville. which after rising &c was
driven down 2%. In January the direc-
tors declared . per cent dividend OF
this stock for the scmi-annual period
which was called ~ par cent regular
and Y per cent extra. Tho price of the
stock was aftcrward rushed up on the
assertion that the coming semi-annuul
disbursement would be 2iG per cent,
i1utci taHic iT'.liI'ltlolS tnnt II would he
2 per cent. but would be called n rcgu-
lar scmi-annual dividend. Now the trn-
defs are selling the stock on the sur
mise that at Mondays dividend meet
inG there will be declared IL per cent
regular and y per cent regular, as was
done In january. Other stocks which
have been prominently mentioned for
dividend prospects were most sharply
affected In sympathy. notably Missouri
Pacific. Baltimore & Ohio, after rise
OF 1Ss and Reading first preferred. Tho
whole market fell below last nights
levels and closed heavy mt about the
lowest. United States Rubber fell Al,
on the failure OF the directors to lie.
clare the expected | per cent dividend
for the quarter. The stock rallied ,
points.
To-morrow's bank statement Is cx-
peeted TO show II gain IN cash of up-
wards of S3,OO0.O00. nearly s2,OO0,OOO OF
Which comes from sub-trcasury opera
iions In the payment OF government
bond interests This makes the imme-
dintc future IN the money market clear.
But speculative surmlsa beglua to con.
Germ Itself with the more distant per-
iods when tho suE-trcasury viii begin
to take up the surplus revenues from