The age-herald., 1898-10-12
}; sugar
Tn Wall Street.

New York, Oct. 1.-The bears had hard work to make living in today's stock mar ket notwithstanding great diligence and perseverance. The majority of the stand ard stocks offered very firm resistance to the efforts to effect a reaction and the number in which any notable price move ment could be obtained was very small. The industrial specialties were the only stocks the list that showed any disposi- ton to move widely and the movement of these was with full "mysteroine" in the exchange lingo. It was the room traders market and the forces which .mpelled these gentry to sell and buy stocks would prob ably be beyond the uninit ated to fathom.
 For instance, 1t was aScertained by some occult reasoning or information that the recent borrowing demand for sugar certifi- cates was for account of sellers of long stock who wished to conceal their opera tions and not at all would naturally be supposed of the bears, who had sold short and had to borrow stock delivery. fall in the borrowing premium of the certifi- cates because the sellers had returned the borrowing served to disclose this willy pro- ceeding to the short terms stock gamblers and they hastened to put out short lines of Sugar with a resulting fall in the price of nearly two points. Later in the day these SdplGHI SpeculdlOIS uOuSil b1Ch WhttI thSS had sold. The reason adduced for selling the rubber stocks was a report that re- gently discovered substitute for rubber was about to be exploited by new corporation. Tobacco ranged over nearly six points with no news to account for The coalers, which are a perpetual target for bear ham, mering, were ra:ded down from 1 to 2 per cent on the general depression in the an- thracte industry and other specialties were subject of individual treatment. These maneuvers of the professional bears had astonsh ngly little effect on railroad stocks. The demand for these securities was on what might be called inffn tesimal propor- tions and here was no disposition to sell. The statement of St. Paul showing an in- crease in earnings for the first week in Oc- tober of over $119.00O as compared with the corresponding week last syAlr, was sus- faining factor all through the list. There was subsistence also of apprehension over sAnglo- French relations French fentes reacted sharply. There was an easing of money in Berlin, though the pressure from that source upon the London money mar ket caused a hardening in the discount rate there and a further fall in consols. A fall of 1-64 in the price of Kansas and Texas preferred in the face of good traffic returns for the first week in October was unexplained as was the advance of over a point in the price of Kansas City, Pitts
 
 The bond market was dull and easier with the exception of a few of the gilt edged issues. Total sales $1,67000O.
 Government bonds are unchanged in the bid price, There were sales of the 3s cou- pon at 1055s.
 Total sales stocks today 2933OO shares, in- cluding Burlington 3954, Northern Pacific SOTO, St. Paul 11,3S5, Tobacco 34,15O, Peo- ple's Gas COTS, Sugar 92,4S0, United States Rubber 9.400
 Money on call steady, 2A@21s per cent; last loan 2h per cent.
 Prime mercantile paper 31A@4 per cent.
 Sterling exchange steady, with actual bus ness in bankers bills at $4.S404.S4A for demand and $4S11kG4.s1a4 for sixty days.
 Posted rates, &S21a and 4.S5. Commercial bills, $4S0R.
 Silver certificataes, 61Q62c.
 Bar silver, 60B.
 Mexican dollars, 46%c. Government bonds steady. State bonds firm.
 Railroad bonds easier.