The age-herald., 1898-10-21
Tn Wall Street.


 New York. October 2O-Considering the. apathy and indifference which have recent ly been manifested on the stock exchange, the resistance made today to the depress- ing influences existing on all foreign securi- ty markets was rather remarkable. Even at the opening prices refused to yield to 3, parity of those established in London for Americans, but the opening and the rather heavy volume of offerings for London ac- count was easily absorbed at level suffi- cientlty higher to make very nice profit for the arbtrage brokers. After the Lon-' don selling had ceased in the forenoon the, market took a hardening tendency and broadened out to very perceptlble extent. Prices of the Changers and other railroad stocks including some in the list of those dealt in on foreign exchanges, rose above yesterdays level, or, at the least, retrieved the earlier losses. Many recently inactive stocks were brought into the market and the resumption of buying in small lots of some of he well secured dividend-paying. stocks The explanation of this lay in the fact that what is Europes poisons is to a certain extent our meat. The striking evi- dence of this was disclosed in the grain and provision markets, which were all ex-. cited and higher on the eager competition for our products reflected from all Euro pean markets as result of the fears of coming hostilit.es between Great Briain and France. With a wheat crop of unprecedent- ed dimensions to move, this development was bound to have an influence on the grain-carrying roads. In former times the threat of war in Europe has brought with it the dread that the large foreign holdings of American securities would be forced to liquidation on the New York market The indifferent mood in which this possibility was viewed today is a striking proof of the large reduction which has been worked in the foreign holdings of our American secu- rites as payment for last years large trade balance in our favor. With trade balances and the continued movement in our favor, are also the ground of the indifference of the money market abroad. European gov- ernment securities declined a sharp frac- ton, and money rates advanced in sympa- thy at all European centers. Yet the only effect in the New York market was to harden the rates for foreign exchange a fraction. As for the local money market, not azripple was caused and rates for call money actually declined to 1b per cent against the recent minimum of per cent, with a range up to 21s per cent. The strength of this countrys financial cond- ton could not be more strkingly Illus trated. Sugar found support at moderate decline. and Tobacco was firm all day.
 The market for bonds was not active. but prices were well held. Sales. S1, ,765 OOO [. S. 2's declined. the 5s coupon Ii and the old 4's registered the new As coupon and the 5s registered 1s, bid price.
 Total sale of stocks today, 175000 shares, including: Atchison preferred, 7434; Iouis- villa and Nashville, S,S7O; Manhattan. 3s3O; Northern Pacific 7SO0s Northern Pacific preferred. I,499 Un'on Pacific, 4,050; St Paul 1892; Union Pacific preferred. 9,S5O; Denver and Gulf. 4GOO; Tobacco, 12,79O; Su- gar, f9S40.
 Money on call was easier at 1h to per cent last loan at IF; prime mercantile pa- per, 3AGl4 per cent. Sterling exchange was firm with actual business in bankers bills at 4S41A@t.S4% for demand, and al 4.S1%0 4.02 for sixty days; posted rates. 4.S212@ 4.S5; commercial bills, 4S0kG4S1. Silver certificates, 60G61; bar silver, GO; Mexican dollars. 46l5.
 Government bonds were weak: state bonds were inactive: railroad bonds were steady
 New York. October 20--There was more activity in the wheat market today. The sharp rise to 3d in prices bushel at Liv- erpool the recent continued heavy export business ard the warlike character of the news from Paris and London over the dis putc between England and France com bncd to stimulate a revival of speculation The market was excited here and cents higher at 7fasc for December. and main- tained the advance despite the usual profit taking sales and the action of the western operators continuing their policy of oppos- ing the Improvement. The total export en- agreements so- far for the week are about !,7ee.o00 bushels aga'nst 6,000.o00 bushels last week. This Is the largest business ted in wheat for export for the pe- iicd since the great scramble to buy here in 1881 wte~ the Russian crop was insuffi- cient to IF that country's requirements and export; ivere prohibited.
 yThcre was also a big export demand for corn, and the foreigners took over 100000 bushels here and at the outports for ship ment, principally to the continent.