The age-herald., 1897-12-04
In w all Street.

New York Dec 3.-Outside buyers have withdrawn from the market today and the field was apparently left to lie fallow by the large operators, who have been prominent in manipulative move me1lts of the week. The heavy throw ing over of stocks by large operators yesterday to realize and by others later Ito save losses was what discouraged the outside public. The bears were in evidence from time to time, but their of- ferings seemed to be well absorbed with out any marked declines. There was no evidences of any effort to mark up prices The action of the market sug- gested that large operators may be at tempting to pick up a large line of stocks at the decline before pushing prices again with the power to realize while the pit is still buying, as on Mon day and again yesterday. Sugar was exceedingly active all day and acted as in a feverish manner. This was partly due to the realizing on stocks bought in anticipation of this years decision to apply the countervaillng duty to sugar imported from the Netherlands and partly to confusion of mind as to how tar the differential on refined sugar would inure to the benefit of the Sugar company. A large proportion of the speculation was taken up with this stock and the offerings and weakness in creased as the day proceeded. Union Pacific was dull at times on account of the fairly expressed intention of the government. to qualify as a bidder at the Kansas Pacific sale, so as to protect its interests, if necessary, by bidding in the property. Denials were also offered on behalf of the reorganization commit tee that any agreement had been arr rived at with the government for ac- quiring the subsided portion of the line in Kansas. There was good support apparent for the stock, notwA hstanding this published news, and the Kansas Pacific consols 6s were also steadily held. The wide range of movement of some special stocks kept the general list very much unsettled during the day, and it was difficult to discern any marked general tendency in the trading. London was again a seller of stocks in this mar ket to some extent. There was little general news bearing on the situation, and movement of prices was due almost entirely to technical causes.
 The fourth week statement of St. Paul and other roads and the estimate gross earnings of Rock Island for No-- yember were regarded as favorable but had iittle effect on the market. The late spurt dn Manhattan to 105,s a net rise of points, stiffened prices and brought out many of them above yesterdays closing level. Otherwise losses would have predommated. The rise in Man. hattan was due to a false rumor that the underground rapid transit plan hai been declared unconstitutionaf.
 The business in bonds was somewhat curtadled, but stir large. Prices held firm.
 Total sales $2,590,000.
 There was an advance in the bid price of United States 2s of 1kc and of new As of 1sc.
 Money on call easy at 11a@2 per cent; last loan per cent; closed 1%Q2 psr cent.
 Prime mercantile paper 3@315 per cent.
 Sterling exchange easy with actual business in bankers bills at $40D5.% for demand and $4.S3@4S3A for sixty days.
 Posted rates $4S4@4.S7.
 Commercial biEs s4.S2k.
 Silver certificates 591a@GOhc.
 Bar silver 595sc.
 Mexican dollars 46Nc
 Government bonds strong.