The age-herald., 1898-02-05
RIoRDAN & co.
In Wall Street.


 New York, Feb. 1.-The remarkable buoyancy of a few special stocks lifted today's stock market out of a slough of depression and closed the day with net gains. The rule, though there were few losses in exceptional cases. The changes were small in the general list, but the gains in the little group of leaders were extraordinary. The Erie stocks showed the effects of some unusual demand at the opening and the first preferred ended with a gain of over 9 points. Connected in some way with this was the movement in Susquehanna and Western, which gain ed in force as the day advanced. The pre- ferred stocks showed a gain of four points on the last transaction, the common stock of 3A. There was nothing in the news of the day to explain these movements.
 The Vanderbilt stocks held the centre of the stage on account of the action of the New York Central directors in author izing an issue of $10O,O0OO0O collateral 31s per cent. bonds to effect consolidation with the Lake Shore. The formulated plan closely agrees with the announcement hitherto made. The quotation for the new bonds when issued was promptly estab- iished on tine eUchange 95 being bid and s7 asked. The price of Lake Shore and of New York Central bounded up buoyant- ly over points on the belief that 1t would ultimately be included in the consolidation in progress.
 Canada Southern also benefited. Norfolk and Western preferred is about points higher and was bought largely in the mar ket today for London account This stock was affected by the reported authority granted to it to construct a branch through Virginia to Washington, and by the gem eral improvement in It's financial condi- ton.
 Great Northern preferred advanced an additional point this morning, but reacted 9 points and closed at 155 bid and 159 asked. The late strength of the market brought @ number of gains up to about point and reduced or wiped out declines in a number of stocks that have shown early heaviness, notably Manhattan, Baltimore and Ohio and Union Pacific preferred.
 A feature of the day was the continued advance in foreign exchange based on the easy tone of the market for money. g There was no falling off in the activity of the bond market. No important gains were shown, but prices were firmly held Total sales, s, ,6S5, ,O0O
 New York, Feb. 4.-Money on call easy at 11s@1% per cent; last loan 1h per cent. Prime mercantile paper 3@4 per cent. Sterling exchange firm, with actual busi- ness in bankers bills at $4.S5h@4S5A for demand, and 4.S5N for sixty days; posted rates S4S31s@4.S6. Commercial bills s4.ssV 4.s21s. Silver certificates 56ss@57h Bar silver 56h.
 Mexican dollars 45N.
 Government bonds firm.
 State bonds dull
 Railroad bonds firm.
 New York, Feb. 4.-Total sales of stocks today were 294,200 shares, Including Balti- more and Ohio, 9.S15; Canada Pacific, 7,425; Chesapeake and Ohio, 5.595; Burlington. 13,- s7s: Denver and Rio Grande preferred. B. AIS; Erie preferred. 18ssl; Lake Shore. s,iA; Louisville and Nashville, 5.S2o; Manhattan, 1S,962; Michigan Central, 6,477; Reading preferred. 4.67O; Missouri Pacific. 6,33O; New York Central, 14,4O0; Northern Pa cific, 5,1O6; Northern Pacific preferred, 21,- 435; Rock Island, 3,395; St. Paul, 13,4S1; Union Pacific, 2o,3S5; Tobacco. 3.65O Gen. eral Electric, 4,S40; Pacific Mall. 3s50; Su- gar, 4,356; Western Union, 6,30S.