The age-herald., 1898-06-05
In w all Street.

New York. June 4.-There was no trace left today of the reactionary tendency manifest in the stock market late yester- day. The change made may be accounted in two ways. First, the adpotion by the senate of the section of the revenue Dill authorizing the issue of bonds and treas ury certificates The second, the profess sionals who sold stocks and took their profits early in the week and were anxious to get back at low prices. The second eX- plantion is more likely to be true. It was evident before the opening today that 1t would be difficult to affect any further de- cline in prices, as London had advanced Americans large fraction all around. London made much of the action of the senate in adopting the bond provision and was also influenced by the persistent ru- mors from Paris and even from Madrid that Spain was seeking a way to peace. Paris bought Spanish fours heavily on this rumor and effected sharp advance in the price. It is probable that the buying of Ameri- cans in London was in part on cabled or ders from New York by purchasers too eager to wait for the opening here. No ac- count was taken of the reported sinking of an American collier in the mouth of Santiago harbor, as it was accepted as a measure for blocking the harbor. The ru- nor of the destruction of the Spanish fleet had more effect and prices advanced buoy antly all through the list. The use Of money reflected in the loan is healthful feature of the business outlook. The clos ing was active and strong, net gains in case of the most active stocks ranging between 1 and 2 points and in exceptional cases above that.
 Attention is attracted by the govern ment's statement of the amount of money in circulation in the country on June l, which is estimated at $1,S39, ,S9S, ,256, exclu- of of fha ITrita Gfafa treasury. This is a circulation per capita of $24.73. The increase in the circulation in May alone was $33 136,S14, of which 32, 533, ,3n was of gold. For the year the cir cuating medium was expanded $1SO,16 ,361 and of this $129, ,S49. 94S Is of gold. The coun- try's net gold imports of nearly $100,0O0,O0 900 in liquidation of the trade balance appears in the circulation. But that this amount of net imports of gold comes anywhere near affecting. final settlement of the trade balance of the year is not conceivable. The trade balance for the fiscal year in our favor will certainly approch near $60O,- 000,000 compared with the greatest previous favorable balance of less than $30O0OOOO0.
 Bonds have distinctly shown the broad ening pressure of idle money seeking em- ployment In enlarged business and higher prices. United States new fours have ad- vanced 1A; the old fours coupon 1; the lives registered 1k and the lives coupon H in the bid rrice.
 Total sales of stock today 250 200 shares, including Atchison, 5,125; Atchison prefer red, S,255; Northern Pacific, 15,436; Northern Pacific preferred, 14,122; Southern prefer red, 4,t60; Union Pacific preferred 15,S50; General Electric, 4,0S5; Pacific Mail, 4,125; Sugar, 16,630.
 Money on call steady IF; last loan, 1k.
 Prime mercantile paper, 4A941R per cent.
 Sterling exchange, steady. with actual business in bankers bills at si.S6Ad$i S6R for demand and at s4.S44 q$4S4la for sixty days.
 Posted rates, $4S5and s4S7.
 Commercial bills, $4S3@$4.S3A
 Silver certificates, 59h@60R.
 Bar silver, 5SA.
 Mexican dollars, 452.
 State bonds quiet.
 Railroad bonds firm
 Government bonds irregular.
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