The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-02-10
FINANCE AND TRADE.
Th. Features Of the Money and Stock
Markets.


The Features Of the Money and Stock
Markets.
NEW YORK. Feb. s.-Money on call
steady at 292N per cSpt; last loan 2
per cent. Prime mercantile paper 495
per cent. Sterling exchange arm, with
actual business in bankers birls at
81 SIS for demand and at 81 s4H for
sixty days. posted rates 81 s. and
81 SSh. Commercial bills 81 S3A64 81.
Silver certificates 5sA@6lc. Bar silver
5s&c. Mexican dollars 47kc.
Government bonds steady.
State bonds steady.
Railroad bonds irregular.
There seemed to be complete with
drawal to-day Of the general interest in
the stock market, which was so COM
spicuous factor in the active trading
Of the early days Of the week. The two
days reaction In prices served TO dis
courage the outside demand. and orders
to commission houses fell to practically
nothing. There was continual drib-
Bile realizing sales oil day, and the
bears industriously pecked at the mar
ket here and there, wherever they de-
tected evidences Of realizing or OF long
stock offered for sale, The most nota-
BILE price movements were in the specu-
latiVe industrinls and speciAlues. Late
in the day on the report OF a new Brit
ish reverse at Ladysmith, the bears
made a determined raidson Sugar and
Third Avenue. forcing them on an eX-
treme go and 81 respectively. The gem
eral list failed TO respond in any mark
ed degree and support was accorded to
the stocks attacked forcing the bears TO
cover. They made a final futile attempt
against St. Paul, but the market closed
generally firm and at rallies In the
stocks which had been attacked Of
from / 10 9h. The tone in the general
list was lIstless and heavy for the
greater part Of the day anf II was ppt
greatly affected either by the late at
tack OF the bears or by the final rally.
Net losses reached q point In only few
stocks. American Tobacco was a con-
splcuous exception 70 the general weak
ness during the day and after an early
decline rallied strongly 81, closing At
about the best. There was good de-
mand for Erie drst preferred, which
carried 1t up at one time ~, most OF
the gain being lost. Much doubt exists
as to the probable effect on the market
Of further British reverses In the South
African war and the confusion Of mind
WsB clearly reflected In the late move
mont OF the market. The forecast Of
the bank statements had much to do
with the dissemination to extend spec
ulatlve commitments, The recent
movements Of funds from the sub
treasury 90 the banks has been re-
yerHed and the latter institutions have
lost on that account S6S5, 900 The ship
ments Of money to the interior have In
creased over last week and the receipts
have diminished so that the net gain on
that account has been cut down 70 little
over Sl,OOO,0OO. Allowing for the sub
treasury absorptlons the gain in cash
Will, therefore. be lnHigniaonnt. LiQui-
dalton Of speculative profits in the
stock exchange during the week may
have relieved somewhat the pressure
ON the banks for credits. The call mo-
,ney market has not shown any in-
creased pressure for funds, but the
rates for the time money were distinct
ly firIner in tone to-day. Loans on eX-
cBptionni collateral were made earlier
in the week at So per cent for short
periods. but the minimum rate to-day
was advanced TO 4 per cent. Sterling
exchange also hardened In sympathy
with the rise In discount rates In Lon-
don. The rather violent break IN the
pFice OF cotton on speculative nquida-
ton possibly had some Bympathetao ef-
feet IN the stock market.
Business In the bond market fell OF
considerably and price changes were ir-
regular Total sales par value 2'soS,-
900.
In bid quotation.
n l.