The age-herald., 1898-11-02
sugar
In Wall Street.

New York, November 1.-The truSl stocks continued to absorb large share of attention in Wall street today. The fluctuations were violent and at times conflicting, but owing to the predominant influence of tobacco in this class of se- curities most of the group closed the day at net losses The trade in all of them was with full mystery on. and there was no conclusive reason known to the public either for an early advance or subse- quent decline Probably the inherent weakness of sugar in view of the formida- ble trade war in prospect was the root of the difficulty, which was precipitated by the announcement that one of the new rival companies had commenced melting sugar today. There has been support or sugar for several days with the obvious intent of aiding the rise in tobacco, and when it proved too heavy today, tobacco took a sudden drop of over points, and f1uctuated feverishly for the rest of the day It is quite possible that tobacco was allowed to fall with view of shaking on an undesirable speculative following But whatever the purpose the movement or the prices was purely manpulative and un- der accurate control. The Federal Steel stock fell off from the best in sympathy, but the fluctuations in these was much narrower and the support apparently more substantial. The securities of the new standard distilling company, the twin company of the American Spirits Refining company, were the latest accessiens to the list of so-called trust stocks on the ex- change with an added capitalization Of s24 OOO 900 to this class of securities. They rose from 2 to 21a points over the early quotation, but sagged before the close in the general heayness of the market. The always vulnerable eoalers came in for some severe raps the ground of un- favorable September statements of Read ing and New Jersey Central ard the gen eral depression in the anthracite trade. Extreme declines range from to 3A in the group which uncovered stop loss orders, but which was followed by rally on cov- ering of shorts. A rise of 15s in Manhattan on talk of new and powerful interests in the company>sided the hardening tendency of the market in the late dealings. Changes in the railroad list are very small as a rule and though losses predominate, there Is a fair sprinkling of gains. Nor folk & Western preferred is a conspicuous example on it's strong September state ment showing. last years high level or earnings well maintained. There was not lacking a freeing of uneasiness over the threatening portions of the European pol itical horizon reflected in the spasmodic
  advance of trading on the London and as whole, however, showed themselves remarkably little affected, either by this or the weakness in the specialties.
 There was more activity shown in rail- road bonds than in stocks, and though prices as a rule were easier there were exceptions on this side of gains. Total sales, $2210,000
 United States 3s, regulars, and old 4s regulars, advanced 1s in the bid price. The SIS, coupon, sold as high as 1O5as ex-inter- est, which is equivalent to the best pre- eeding price with the interest on.
 Total sales stocks 33S,5OO shares, includ- ing: Atchison preferred, 7,S55; Burling- ton, 7,225; Manhattan, 1O,932; Delaware and Hudson, 1922; Louisville and Nashville, 9,445; Northern Pacific, 5,2SS; St. Paul, IA, ; 3S5; Cotton Oil, 12,5O0; Tobacco S4, APO; Su- gar, 7,2O0.
 Money on call steady at 1AQ2 per cent; last loan g. Prime mercantile paper 3A@4A per cent. Sterling exchange firm, with ac- tual business in bankers bills at 4S524d 4S6 for demand and at 4S21a@4S2a4 for sixty days; posted rates 4S3@4SS1a 4S6a4S7; com mercal bills ASIA.
 Silver certificates 61@62; bar silver SIS; Mexican dollars 471a
 Government bonds firmer; state bonds strong; railroad bonds easier.