The age-herald., 1898-10-15
in Ws1 Street.

New York, October 1-The local stock market overcame suecessively the opening depression reflected from the earlier trans actions on forign exchanges and the unset ting effect of early weakness in some or the industrials. A relapse later in the day in a rather extended list of specialties put a stop to the upward movement of the mar ket and brought trading in the general hst almost to a standstill. The list of stocks traded in was largely curtailed and activity much diminished even in the stocks which lead the decline. The relapse carried prices for the most part a fraction below last nights close and the reaction from the highest reached a point in some stocks Sugar, Tobacco Manhattan, Brooklyn Transit, Metropolitan and Northern Pa cific, the latter the only active railroad stock, were all active centers of weakness. Some of the southern and southwestern railways were conspicuously firm the be- lated movement of cotton seeming to im- prove their earnings. None of the large speculative interests which took the lead yesterday were at all prominent today. There was disposition to take rather more account of the depressed condition of for eign markets with the growth Of the con- viction that the money situation in Berlin is more responsible for the depression than political questions. The problem of the in- ternational exchanges seems to have re- solved itself into question of how to shift the pressure of credit balances in favor of the United States
 Todays additional arrangements for gold imports is significant in view of the high money rates prevailing in Europe. Yet the neavy demand for export of our wheat and coarse grains continued today; rates for ocean freights are strong for present and future shipments, and there are large offer ings of exchange in the market for future delivery, said to be against grain move ments for November and December and even January. There is no room for sur prise in view of the preliminary statement of the foreign trade for September given out today at Washington, showing an ex- cess of merchandise exports over imports of over $42 100000 over the action of the Bank of England in advancing the mini mum discount rate to per cent. and in borrowing from the market in order to make that rate effective and in so doing se cure control of the international exchange with view 0 protecting specie reserve. It is evident that the pressure of this coun- try's credit upon the old world money mar ket is destined to increase in the near fu- ture. There were continued evidencs of invstment demand in bonds Sales $22OO- 900.
 Total sales stocks today 291 100 shares including Atchson preferred, 4S52; Burling- ton, 5,174; Louisville and Nashville, 3,5S2 Manhattan, 9,59O; Northern Pacific, 29,92O Union Pacific, S,220; Union Pacf pre- ferred, 4,13S Tobacco, SS,495; Sugar, 1OO,59O St. Paul, 12,721.
 Money call steady at 2@21a; last loan, 2A per cent.
 Mercantile paper, 314G54 per cent.
 Sterling exchange steady, with actual business in bankers bills a $4S4@4S4A for demand and at S4S11404 S1a4 for sixty days
 Posted rates $i.S2I4.s21a and $4.S5
 Commercial bills, $4. S004.SOA
 Silver certificates, 5934 G160lk.
 Bar silver, 50.
 Mexican dollars, 46%.
 Government bonds strong
 State bonds strong.
 Railroad bonds steady.