The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-05-08
FINANCE AND TRADE.
The Features of the Money and Stool
Markets.

Markets.
NEW YORK. May Mooney on call
steady at 1924 per cent; last loan,
2N.
Prime mercantile paper. sA@4H per
cent.
Sterling exchange easier. with actual
business in bankers bills at 81 SSB0
A ssh for demand. and at 81 S4%94s47i
for sixty days; posted rates, 81 $50
81 S54 and 81 1904 S91s: commercial
bills, 81 SS1kG4 S44; silver certificates,
6O96O1Ec; bar silver. $3.50; Mexican dol.
lars, 471zc.
Government bonds irregular.
State bonds inactive.
Railroad bonds easier
There were several weak points in
the stock market to-day, and these
were sufficient to turn the room traders
to the bear side of the market. The
operations OF these professional elc-
ments were the only, ones apparent OUT
side of a few stocks, and they reflected
no conditions or even well established
opinions regarding the general outlook.
The demand for stocks continued quite
insignificant, so that the moderate Of.
ferlngs in large part for the short &C.
count of room traders made an Inn
preston easily upon prices, but the de-
cline failed to induce any liquidation
and prices readily rallied when the
bears came to cover. The steel shares
were the most conspicuous In the trad =.
ing, and were weak from the opening
The reported closing OF a mill Of the
Federal Steel Company induced the
early decline, which was languld and
sluggish. The announcement OF the
resignation from the board of directors
of the American Steel and Wire Com.
pany of the selIgman representatives,
and their statement OF irreconcilable
objections to Chairman Gates and his
policy, caused u sharp further break
In the steel group, in which Federal
Steel was rather more affected than
Steel and Wire. Pressed Steel Car ana
American Smelling were exceptions In
the group, the former rising over .
point. Long Island broke sharply after
its recent notable advance on the abb
sorpuon by Pennsylvania, and closed
81 points lower than Saturday. The
bonds of the company were also heavy.
The reaction was attributed to specu-
lative proat-takIng. and occurred on
comparatively small dealings. In thu
railroad list st. Paul, Pennsylvania,
Union Pacific and Baltimore & Ohio had
rather wide fall on what looked Ike
letting go of speculative account.
There were heavy blocks offered OF al
these. There was 4 slight show OF
strength in spots at the opening, in re-
Spouse to London's encouragement
over South African news, but the rise
was but momeutary. The rally aftsr
the break in the steel stocks was not
well held, the members Of that group
generally falling again to the lowest at
the close, which was heavy throughout.
General Electric advanced nearly three
points in the morning, but saved only
one point on the day. The money mar
ket continued very easy, and further
gold exports to Paris are expected. 1t
ls not believed that any gold win go to
London In the present conditions, and
at the present level Of exchange, which
declined to-day. both for sterling and
for Paris CHECKS. Estimates Of tho
amount to 20 on Thursday to Paris run
up to 100000. but no announcements
were made to-day of engagements. The
bear traders during the day protested
uncaslness over the gold movement. a
well as over labor difficulties at vari-
Gus points, the pendency of the pres'-
Dental campaign and the reactlonary
course OF business. which, they argat'
must have It's effect on railroad earn
lngs
Railroad bonds showed n Yielding
tendency, in sympathy with stocks
Total sales, par value. sl,735.Ooo'
United States new IS advanced s.
and the rcfundlng rs. when issued 49,
and old IS declined y in the bid price
U. s. Bonds.
n q RefundInr No. s. rev A. cOu.i3lh