The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-11-15
FINANCE AND TRADE.
The Features Of the Money and Stock
Markets.

Inc Features OF the Money and Stock
Markets.
NEW YORK, Nov. 14.-A1oney on call
steady at 2h96 per cent; last loan per
cent. Prime mercantile paper 4k95A
per cent Sterling exchange steady,
with actual business in bankers bills ut
81 S4@4 S4ss for demand and at 81 S0%9
4 so7s for 60 days; posted rates 81 S1B
and 81 85k. Commercial bills 81 500
"a so1s. Silver certificates 6iA@65!lc.
Bar silver 64Bc. Mexican dollars 5OAc.
Government bonds irregular. State
bonds inactive. Railroad bonds irreg-
ular.
The striking fact about to-days stock
market was the decreased volume OF
trading. Yesterdays reaction was
checked and quite an imposing show Of
strength was made afterwards, but
there was no renewal Of the jinordinate
buying demand which carried prices up
with a rush all through last week. The
market in fact dropped back into an
affair Of ordinary Importance, business
continuing on q large scale compared
with the normal. but the movement OF
prices obviously depending on artificial
stimulants. Yesterdays sharp decline
induced some selling orders from out
side sources this morning, but the pow
erful support by the pools who are still
operating for an advance checked the
decline and secured control Of the mar
ket almost Immediately. There was
some small buying for London account
but 1t was not q potent factor in the
market. 1t is probable also that there
was some buying from speculative In
terests, which have been watching for
n reaction ever since the election. The
buying fell off as prices rose above yes
terday's level. The most effective
movements Of the day were In Pennsyl-
vanla and in Northern Pacific. There
were vague rumors aloat OF further
deals by the Pennsylvania company of
the same character as the series Of DC
qulrements OF stock In other companies
earlier in the year. The accompanying
strength of Baltimore & Ohio. Norfolk
& Western and some Of the coalers was
intended to give color to these. rumorS,
but no authoritative confirmation was
forthcoming, and the stock of pcnnsyl-
vania was highly manipulated all day.
The buying OF Northern Pacific, both
common and preferred, seemed OF n
more substantial character. The state
ment OF the condition Of the company
issued by the trusts in dissolving the
voting trust and the desirabillty Of ad-
ditional holdings for centralized control
following the dissolution OF the trust
offered plausible motives for the buying
stocks and In General Electric grew
out Of the statements in the annual re-
| port of the Manhattan Elevated Com
pany as to the progress being made to-
ward electrical equipment and the
friendly cooperation OF the Metropoll-
tan Street Railway Company. The ad-
vances extended all the way from TX
per cent In Pennsylvania to ~ per cent
in General Electric. These stocks about
measure the dimensions OF the upward
movement gains elsewhere being for
the most part in sympathy. Conse-
| quentfy when heavy realizing developed
In Northern Pacific and Pennsylvania
which practically wiped out their earlier
| gains and in Manhattan, the whole
market turned weak again and fell back
to an average level about rs low as
that OF the morning. There was final
rally. but 1t was lacking In snap and
was not we'll maintained the market
closing Irregular. Pacific Mail. Linseed
OIL preferred md one or two OF the steel
stocks were actively reactIonary. Call
money got up to per cent again and
| the time money market continued firm
and rather active. Apprehcnsions OF n
money squeeze are an Influence In the
more cautious attitude OF the specula-
ton. but the fact that the public de-
mand for stocks has evidently been
satisfied for the time being Is the pre-
ponderant factor Of the speculation.
The bond market was regular in SYM
pathy with stocks. Total sales par
value S2.97O.OoO.
| United States refunding Is declined X
per cent and the SIS registered advanced
y per cent and do coupon x per cen. on
the last call. ~
U. S. Bonds.