The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-04-13
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.


NEW YORK, April 12-Money on call
steady at 3k@4 per cent; last loan 3;s
per cent. Prime mercantile paper 1875
per cent. Sterling exchange firm, with
actual business in bankers bills nj
81 S7hG4 SIS for demand and at 81 s5N
for go days; posted rates 81 sac aad
81 SS04 ssh. Commercial! bills 81 S11
4 81. Silver certificates 6Oh96lIsc. Bar
silver 59hc. Mexican dollars 47+.c,
Government bonds heavy. State bonds
inactive. Railroad bonds strong
The fact that to-day's adjournment
of the stock exchange was to be until
next Monday and that of the Londnn
exchange until next Tuesday. prompted
the closing up of speculative contracts
to-day. Professional traders are ayerse
to keeping open contracts for so long a
period any time and this time especially
they have in mind the varying posi-
bllitles of the war in South Africa, the
war in the sugar trade, the showing 10
be made by the weekly bank statement
on Saturday and the possibility OF gold
exports by Saturdays steamers, As
realizing has been going on to n large
extent this week, most Of the uncovered
contracts were on the short side and
the demand to cover was an important
factor In rallying prices. In addition
the pools which exist in number of
stocks adopted aggressive tactlcsfor an
advance, taking advantage OF the disin-
clInation Of the bears to extend their
commitments on the eve OF the holiday.
After the demand from the shorts had
been satisfied, the pool manlpuIators
began to find themselves alone in bid
ding for stocks with a steadily aug
mentlnE burden OF realizing sales as
prices reached the higher level. Tho
process of bidding up prices was there
fore discontinued and the market
lapsed into comparative dizziness and
sluggIshness. The industrials moved
quite independently Of the general mar
ket and none OF them occupied very
conspicuous place in the trading. The
most notable movement OF the day was
that in Missouri Pacific which on buy
ing alleged to be for manipulative pur-
poges was carried up nearly points
and closed at the top. This had n sym
pathetic effect on the other members OF
the southwestern group. Union Pacific
vos heavily absorbed and was carried
nm In CO. the other trans-Continental
lines Including the Atchlsons respond
inc in sympathy. The Baltimore &
Ohio stocks and the Norfolk & Western
stocks rose consplcuously, the former
an very large dealings and with well
sustained strength. The grangers were
comparatively quiet. With the excep-
lion of the Baltimore & Ohio Southwest
crn and Missouri Pacific gains were not
well maintained and the closing was
decidedly unsteady and below the best.
rho industrlals as rule were active
and stronger. and Peoples Cas- Federal
steel. the Steel and Wire stocks ara
other stocks Of the steel group showing
acute weakness at different times. Third
Avenue showed the effect VI dlsappoini-
ment over the terms OF the lease To M's-
ropolltan. General Electric was an eN'
cepuon and enjoys net gain OF ga per
cent In spite OF an easing OF the Lon
don money rate, continued buying oil
stocks for London account and the I'M
precedented balance in this countrys
favor as disclosed by the March foreign
trade statement. sterling exchange
moved up an additional fraction to-day
and all OF the usual authorities are at