The age-herald., 1898-08-07
In Wnll Street.

New York. Aug. 6.-The tone of the stock market today continued very strong and confident. The stream of money floating into stocks and bonds showed a steady augmentation. The movement of the large concentrated wealth which took the initiative during the week, continued. and the following thus invited showed increase. The two hours session of the stock eX- change full of business and the de- mand was eager for a large list Of stocks. The preference is decidedly for the as- sured dividend paying inere sts as yet, but it was influenced by the possibilities in some cases of dividend increases, and showed a tendency to overflow in non dividend paying stocks of which there Is fair prospect of future dividends by rea- son of growth of companys earnings. The Changers continued the fayorites, but Bur lington fell slightly into the background to make way for St. Paul and Rock ls- land the former rising an extreme 11s, and the latter 1A. Dealings in these stocks were very large, 1000 share blocks ire quently changing hands to the powe. full speculative leaders who have cEossn this group of stocks to operate on trst be- cause of the dominant influence it exer- cises on the whole railroad list. Nothing in the days developments was more i1,- pressive than the pause in activeity just before the close The buying was appar- ently stopped to test the tendency or tHe market. RecesSionS of Kor Ac in prices promptly put a stop to offerings. There was no pressure to realize even by small room traders. Cor siderirg the weeks rise in the prices, the firmness at the close was remarkable. Traders prone to close out standing contracts and taking profits whether on the long or short side in anticipation of a Sunday interval. but no disposition was shown to sell out to- day. The heavy expansion in loans showed bank statement is mostly d&e to tse awakened stock exchange activity. The next increase of cash of something cv-r $1,SG0,O00 was largely from interior re- ceipts, the sub-treaSury's daily debt bal ance being still off set by payments on the loan account. The resulting increase in deposits raised the legal reserve limit s., Si2,S75. which the cash increase failed 10 cover by $2,o11.i50. the amount of the de- cline in the surplus reserves. The activity in the iron trade is one of several signs of industrial and trade revival which, to- gether with the movement of crops, is eX- pected to give large extended uses of money. There will undoubtedly be lasge authorizations of capital in Porto Rico, Cuba and tn Philippines Confident expec- tation of such demands for money must be looked to to explain present import movement of gold in view of the present plethora of money.
 United States old As registered have ad- vanced IF: do coup, and the new As regis tered, l; the 5S registered t2, ana do coupon new 4s 4 per cent. in the bid price.
 Total sales of stocks today 2s3 100 shares, including 3650 Atchison preferred 9.036 Louisville and Nashville; 30,sS2 St. Paul; 9.945 Southern preferred; 4.2g0 Spirits B., 522 Sugar; 6S56 Rubber; 3,9S1 Western Union.
 Money on call steady, 1G1R per cent; last loan. 1k per cent; prime mercantile paper, 3la64 per cent; sterling exchange steady, with actual businessin bankers bills at $4.S51R14.S5A for demand and at S.S3& for sixty days; posted rates &.S41a@4.S5 and s4.S6614. S61R commercial bills. s4.S21sd4.S3. Silver certificates, sales 10000 ounces at 59Ac Bar silver 592c; Mexican dollars. 251kc. State bonds dull. Railroad bonds strong. Government bonds firm. Exports of silver form this port for the week ending today aggregate $4s6,0l2. The imports of dry goods and general merchant disc at New York for the week ending to- day were ss.214,376 The imports of specie this week were $S29 279 in gold and S600S3 silver.