The age-herald., 1898-02-16
Tn Wall Street.

III w Ill OtE5eL. New York, Feb 15.-Today's sharp rally
 in stocks is to be attributed to covering of short contracts put out in yesterdays s furry. Buying was said to be heavy for Washington account which was a heavy
 seller yesterday. Yesterdays losses were
 more than recovered in most cases, not
 withstandng a smaller volume of business today. There was at least one period of
 general reaction during the day, but it was
 of short duration and declines reported small proportions. There was also profit
 taking in a few special stocks, which did
 not affect the general list to noticeable extent. American securities continued to be favorites on the London stock exchange where prices of Americans were marked up
 with distinctly confident tone before the opening here, and London continued buyer here even after prices had advanced to the London parity. Much stress was laid on this as indicating a definite change in the attitude of the British investing public toward American securities. They were persistent sellers of Americans during all of last summer and during the subsequent rise, which has been almost continuous since November They are now buying American stocks at prices many points above where they sold. This buying is regarded as the more significant on ac- count of higher rates of money in London as compared with New York and the heavy balance of exchange still, known to be outstanding in favor of this country. In Paris Spanish fours declined on fears of strained relations between the United States and Spain and American securities declined on some of the Continental ex- changes but London needed none of these changes, but London needed none of these vancing prices. Foreign exchange begins to reflect this buying and demand sterling today declined .H and cable transfers the same amount. Metropolitan Street railway showed continuance of yesterdays weak ness after an early period of strength and dropped 4 poitns. It subsequently, rallied but closed today with a sharp los. Other local securities were strong. Minnesota iron was conspicuously heavy and Lake Shore ruled below last nights price. There were a few losses shown by less conspic- uouS stocks, but the general level of prices at the close was very materially higher. The Minneapolis and St. Louis stocks were strong on reports of circular issued to stockholders asking an option on the stock with a view to the purchase of control. l Kansas and Texass howed a sharp recovery | from yesterdays loss. In the active list net gains of between 1 and points for the l day were frequent
 | The strength and activity in bonds was a l notable feature. Total sales $4,360000. | U s. old As registered, the new As regis l tered and the 5s were 1s higher bid and | the new As coupon A higher.
 | Total sales of stocks today, 311 700 shares, | | llington, 3977O; Louisville and Nashville. l 9s5o; Manhattan. 10.4S0; Metropolitan, IT, l 300: Kansas and Texas preferred, 3,S65; l Northern Pacific preferred, Il ,625; Oregon Short Line, 5S,100; Rock Island, 7,9aO; St. | Paul, 14,27O; Texas and Pacific, 5,20O; Un- l ion Pacific, 6,221; Tobacco, 9546; Peoples 8 l Gas, 3,s2O; Consolidated Gas, S,76s Sugar, l 1O.055; Rubber, 7,771; Rubber preferred, g. | 337; Western Union, 10,197.
 | Money on call closed easy at 1A@1k per I cent; last loan, 1A.
 | Prime mercantile paper, BOA per cent. | Sterling exchange weak, with acttEl bus- | mess in bankers bills at $4S5A@4.S53s for demand, and at s4.S3@4S3A for sixty days. | Posted rates, $4.S4@4. .S61h.
 1 Commercial bills, $4.S21a.
 | Silver certificates, 521aQ52%c.
 | Bar silver, 57Ac.
 Mexican dollars, 45Ac.
 l Government bonds strong.
 | State bonds dull.
 Railroad bonds firm.