The age-herald., 1898-10-29
Tn Wall Street.

New York, October 2S.-The stock market took today many of the characteristics of a bull campaign in full force. Business was large and exceedingly well distrib- uted, bany of the usually active stocks being brought forward into the movement while the market was much less dominated by the speclalties, which, however, con tinued very active principally Sugar and Tobacco. The former was less violent in its fluctuations than on yesterday and all though 1t advanced several times, it met more stock than it could carry. It ended the day unchanged. Tobacco on the other hand after fractional decline, surged strongly upwards, the extreme rise being nearly points. The rise was coupled with rumors of the formation of the new plub tobacco company and in taking in of many large competitors in that field. Another conspicuous movement was that in the iron and steel stocks which was led by the dealings in the securities of the new fed eral steel company when issued. These stocks were at one time A to 1A above last nights price. The certificates of the Minnesota Iron company with the cash payment added giving the right to entry into the federal company, sold at 131, an advance of 4 points and the Illinois Steel certificates closed at 95 bid, gain of 2 points. Securities of other iron and steel companies showed strength to less de- gree. Brooklyn Transit was notably strong on talk of the absorption of the Nassau Electric rising over 67 and Metro poitan Street Railway also advanced 3 points. Manhattan was in strong con- trast with an extreme decline of points, Selling down to 95. The Edison Illumin- .ating company of New York gained 11a points with news to explain the rise. The Rubber stocks were rather heavy on talk of an opposition company. Peoples s Gas rose a point in connection with the taking over of the Manhattan Oil com pany. Speculation in the railroad stocks was%active and varied, the grangers lead ing in point of activity. Reports of one or two southwestern roads showing the jn- creased earnings more than eaten up by enlarged expenses were a. drag on that group and there was some slight heaviness among the trunk lines. Prices, are as a rule higher, however. There was a marked diminution in activity in the lat ter part of the day and the room traders took profits reducing the days net gains below the figure of the extreme advances.
 There was very notable activity and strength in the bonds market and evident pressure of large sums of money seeking investment Bonds of western and south
  bonds, seem to be in special favor and there was a strong recovery in the Read ing and Erie general 4s which have re gently been under pressure. Iron Moun- tain 5s were also conspicuous. Pittsburg and Gulf first dropped to 671s, a fall of 21h per cent, but fullyl recovered in the late dealings. Total sales $5,375,000. United States 3s old registered and the 5s coupon advanced 1s m the bid price. The new Ss were very active, the coupon selling at 106 nearly all day, which is the record price, There were s6S55OO of this issue changed hands during the day.
 Is rh, A---leodragWed
 Money on call, steady, at 1A@2 per cent; last loan at per cent.
 Prime mercantile paper, BOA per cent
 Sterling exchange firm, with actual business in bankers bills at $4S51@6l4. .S5% for demand and at $4.S2f4 @4.S21a for sixty days.
 Posted rates, s4.SS@lS3A and $4.S6a4s61A
 Commercial bills, $4.S5.
 Silver certificates, 61Q62c.
 Bar silver, 607sc.
 Mexican dollars. 47Ac.
 Government bonds strong.
 State bonds strong.
 Railroad bonds strong.