The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-03-01
frrANcE ANp TAD.
The features Of the Money and Stock
1IarketG.

steady; actual transactions ranging
from : to ~ per cent; last loan 2st per
cent, closed offered at 2 per cent. Prime
mercantile paper lM05H PEI cent. ster-
ling exchange heavy. with actual bnsI-
ness in bankers bills at q 500 ss1l for
demand and at 81 ss4s for % daSt;posted
rates 81 s4S4 So and 81 Ssi commercial
bills 81 ssHe4 ssh. Silver certificates
5sA9sOxc. Bar silver 5sRc. Mexican
dollars 47Rc. Government bonds iUeg-
ular. state bonds inactive. Railroad
bonds hrm.
Evidence accumulated as the day pro-
Creased in the stock market that the
short interest in the group Of special-
ties, which has recently been declining
had become unwieldy and before the
day had closed an urgent demand de-
yeIoped for these stocks from the bears,
who had overstayed the market and
who were eager bidders for stock to
cover short contracts. Thus the appar-
emit anamoly was presented Of a buoy
ant rise in the price Of stocks concern
ing which recent unfavorable news:was
still uncontradicted or new facts devel-
oped Of stIll more ulfavorable char
acter. Additional mechanics liens were
piled upon the assets of the Third Ave-
nue. and u receiver was appointed; yet
the stock offered arm resistance at yes
terday's low level and rose at one time
as much as sls per cent. The franchise
tax committee, which recent rumors by
professional bears have credited with
a purpose to practically confiscate the
net earnings Of local corporations began
Its sittings to-day, but the stocks of the.
New York public utilities rose from 2lh
to points. Published reports alleged
continued Generalization and cutting Of
prices of Sugar and the continuation of
professional spectators remains un-
shaken that the next dividend will be
cut; but Sugar shows a net gain of ~
per cent. The simple explanation is
that bear traders have been selling
these stocks without holding certificates
with which to make delivery and when
they tried to buy, they found horde
Of traders in the same situation and a
lively competition sprang up to secure
the floating supply. Peoples Gas, the
Tobacco stocks. humber Of the Metal
stocks, Western Union and some others
which have been under recent pressure,
moved upwards under the same infiu-
ence. The Leather stocks weakened on
the yearly earnings reported, which
were mucn below recent sangulne estl-
mates, and the bears endeavored to Gre
ate a diversion in their favor by ralding
the stocks. The rest of the market re-
fused to respond. Relieved Of the ele-
ments Of acute weakness which have
recently dragged 1t back, the railroad
list rose strongly and quite uniformly,
the exceptions being stocks which have
already advanced in face OF the recent
weakness. The advance was rather
marked In a group Of low priced COM
mon stocks Of companies whose senior
preferred stock have already reflected
their improved prospects Of dividends
by reason of Increased earnings. Fore
most Of the group were AtchIson and
Southern Railway, which rose IL and /
per cent respectively. There were good
advances also in Erie, st. Louis South
western, Wabash preferred. Chicago
Great western, Colorado Southern sec
ond preferred and North American. The
movement in grangerA led by Burling-
ton, was based on the fall OF snow in
the northwest, which is believed to af-
ford security to the wheat in the ground
as was reelected by the downward ten
dency of that cereal on the grain ex-
changes. This movement is Of special
interest as being the first of any mo-
ment in the stock market founded on
the prospects Of this years crop, thus
ushering in new influence and hazard
which will play a growing part in the
problem of values. The closing was ac-
tive and strong at ABOUT the best.
The bond market was not very active,
but was firm. Total sales par value ST.
$4,000.
United States IS coupon advanced u
per cent and do registered old Is and IS
Y and new As declined y per cent In the
bid price.