The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-09-22
FINANCE AND TRADE.
The Features of the Money and Stock
Markets.

Markets.
NEW YORK. Sept. 21.-Money on call
steady at 1902 per cent. Prime mer-
camille paper 41aa5A per cent. Sterling
exchange easier. with actual business in
bankers bills at 81 S6si@4 SG7s for de-
mand and 81 S3h for co days; posted
rates 81 S4G4 S4lA and 81 IS; commercial
bills 81 S9A@4 SON. Silver certificates
G2T @G3&c. Bar silver 628c. Mexican
dollars 4gHc. Government bonds weak.
State bonds inactive. Railroad bonds
weak.
There was considerable liquidation in
to-day's stock market. but prices show
ed some resistance all day and in the
later trading there were quite general
recoveries OF all the earlier losses and
small net gains are the rule. The late
recovery did not, however. bring prices
fully up to the opening level. Buying
by arbltrage brokers when the market
opened here was responsible for the adj
vance and the buying for London ac-
count was estimated at close to 10000
shares. The professional operators In
New York seemed suspicious Of the rise
in London and of the high opening
made in some OF the specialties. nota-
bly, Sugar and Brooklyn Transit. They
therefore sold those stocks with assur-
ances at the high level. Yesterdays
rather violent decline had the inevita-
bic effect OF attracting considerable
selling orders from outside sources.
Prices yielded very generally after the
opening and declines ranging from l to
~ per cent were effected in long list
of stocks. Peoples Gas was especially
affected and lost 81 per cent and Gen.
eral Electric as much. Louisville was
the weakest OF the railroad list and fell
ut one time, q point under last night
Some wider declines were made by new
ly awakened dormant stocks. Consid-
ering the range OF this movement to-
days final changes will be found sur
prisIngly small, contamination which
suggests n general closing UP Of specu-
lative accounts. That the shorts were
buyers on 4 large scale was palpable
and the circulation of the favorite ca
nard Of the Presidents death went to
show that the bears were rather hard
pressed. The forecast of an unfavor-
able bank statement. the Developments
In the miners strike and the report that
an agreement between steel operators
and their employees seemed improbable
did not appear TO weaken the market as
they had been discounted by yesterdays
selling. The report OF the weeks cur
rcncy movement Indicated loss In
cash by the banks OF $6,0O0,000 or up
wards OF 100000 more than last
week. This showing disposcs OF the
supposltlon that last weeks movement
was made abnormal by the movement
of the relief fund to Galveston. A fur
Their loan expansion Is counted upon
with confidence, in view of the large re-
mlttances known 10 have been made on
account OF the German loan payment
which is certain to be reflected In the
loan item OF the banks. There Is every
probability therefore of further sub
stantiai inroad upon the surplus re-
serve. In the natural rebound from
yesterdays depression, even this factor
was changed from Its influence OF yes
terday to one OF some encouragement as
Indicating the high level of activity OF
business which continues in the country
ut large. In the same spirit, 1t Is argued
that the flow of American capital Into
foreign government securities Is likely
TO aid the country's export trade In view
OF the fact that our needs for foreign
merchandise continue less than foreign.
crs needs for ours, md that domestic
money conditions do not call for gold
imports. tho foreign demand for our
products would have to find somr limit.
II this domestic demand for foreign ST.
curItics did not offer m offset.
Bonds continued rcactlonary and did
not rally with stocks. Total sales par
value s9b5, 900. NJ
United States Is and new Is declined
Il per cent In the bid price.
U. S. Bonds.