The age-herald., 1898-03-16
In " all Street.

New York, March 15.-The movement of stock prices today was confused ana the market very puzzling. Decidedly lower quo -tations for Americans in London caused an unsettled tone at the opening. Prices part ly responded to the London initiative, but did not fall fully to the London parity. A furious buying movement quickly devel- oped, which lifted the level of the market. The buying was most conspicuous in the local and industrial Specialties, but there was no lack of strength in the railway list either, the demand for the grangers being especially heavy Heavy realizing met the advance and wiped out large part of 1t before the first hour had expired. This was the most active period of the days trading. There then ensued a low and laborious recovery which developed higher prices than the first squirt. And yet the second advance also was wiped out in practically all cases except some of the specalues, and the day shows net losses in most of the standard stocks, extending to point or over in some cases Thus almost the extreme range of tine market was tra- versed four times during the day
 There was very little in the news to ex- plain these conflicting movements. Wall street opinion of the political outlook was on the surface less apprehensive. The movement of Spanish AS in London and Paris, which partly recovered after an early decline, reflected a growth of siml- lar opinion there. But this was probably derived in part from the strength of the New York market yesterday and this morn- ing. London sold freely here on the morn ing advance, and there was heavy realizing, besides, attributed to very powerful local market interests. The character of this realizing suggested that this advance might have been manipulated, but the usual pro- ceedure for such a maneuvre by power ful combination is to bid up prices of Americans on London cable orders, the sup ply of stocks being limited there and the results more easily attained. But London prices were lower this morning. The early advance was materially helped by the az gressive strength of the local traction stocks on account of the belief in antagon- ism to rapid transit plans in influential quarters. Metropolitan Street Railway was at one time up points and Manhattan 3A. A number of industrial stocks arose over 2 points and number of the railroad stocks at one time showed net advances of over a point. The re'trograde movement of prices seemed to be disasSociafted from any news of the day were the advances. Realtz- ing of profits offers the only explanation.
 Prices for foreign exchange moved to lower level today in spite of addition en- agreements of gold for import. Actual rates for demand sterling declined Ac, and the actual rate for sixty day bills as well as the posted rates for both long and short Sterfing fell F cent. Besides the engage me1sts of gold for import from Europe to New York a shipment of $2,O0O,O00 was an- nounced from Australia to San Francisco. There was no easing of the local money rate in response to these movements.
 The bond market was strong up to the closing when prices eased off in sympathy with stocks. Total sales $2, 19O0O0. United States new fours advanced 11a and the lives 1h and the old fours registered A bid.
 Total sales of stocks today were 42S, 1OO including: Atchison, preferred, 7,29S; Ches- apeake and Ohio, 3,570; Burlington, 4S,773; Erie, preferred 3,716; Louisville and Nash viNe 10, ,110; Manhattan, 35,57O; Metropoli- tam 9,513; Reading, preferred, 3,43; Mis- sour Pacific 3,6SN; Missouri. Kansas and Texas 66O0; New York Central, 7,040; Northern Pacific, TOE; Northern Pacific, preferred, 1S3O; Rock Island, 13,SSO; St. Paul, co 75G: Union Pacific, 6,O70; Tobacco. oo05: Ps,optes' Gas, 10,050; General Eaectrdc, 5.47O; Sugar, 47, ,560; Western Union, S,45O
 Money on call steady, 2G21s per cent; last loan, 2 per cent; prime meroautile paper 41a@5iA per cent; sterling exchange weak, with actual business in bankers bills at s4S31s94S3% for demand and at s4s0il i4 SO1a for sixty days; posted rates, s4 S11s@s4. .s3, and s4.S41z04S51s; commercial bills, $4.sO1Gi4 .So1s.
 Silver certificates 55c@ o5aic.
 Bar silver, 651sc.
 Mexican dollars, 45c.
 Government bonds strong
 State bonds dull.
 Railroad bonds strong.