The age-herald., 1898-08-04
,ugar
in " all Street.

New York, Aug. 3.-There was an out burst of speculative enthusias m in the stock market to-day result of peace news. The market broadened out mate rially and was confidently strong all day, but inquring observers feel considerable doubt as to whether the peace prospects had much to do with the rise. Much of the effect is due to the generally grow ing conviction that the du.lEess of the To- cal money market is not al all due to slug gish trade conditions, but rather to the abundant supplies of money at interior points to meet the requirements of ex- banding business, and the movement this far of the crops. Yesterdays gold imports resulted il stiffening for ign exchange and in appreciably higher money rates for time loans. Exchange experts are not able to figure any profit on the gold i'm port operation at the present level of ex- change, and these operations must be an ticipative of future conditions. If the inn porters anticipated higher money rates abroad they probably would leave their funds there without drawing the exchange. It seems doubtful also whether the pres ent low rates of money here would in vite such operation. The prospects of an enlarged demand through awakened business activity must be looked to to ex- plain the present gold movement. The
 
 is all of expected increase of trade and industrial expansion. The growth of the westbound freight movement and favor able reports from exports in the different trades are accepted against the Shr1nkaSe in the grain movement and resulting de- crease in earnings of some of the western railroads.
 Statement of earnings for the fiscal year are being brought out simultaneously with those for the month of July and the heavy outlay for betterments and improvements shows by these exhibits indicating possible economies in future serve to neutralize trade in current earnings. The general view in the street is unmistakably bullish
 The general strength of the market was taken advantage of to realize profits in case of some of the recent manipulated in- dustrial speeialties, but there was broad and competitive demand for standard stocks, the grangers and the favorite divi- dend payers leading.
 Dealings in bonds were also active and widely distributed. A feature of the day was a rise to par of the Northern Pacific fours. This is one of large class of simi- lar class of bonds issued recently for or ganizations which have been favorite in the bond market. The Northern Pacific is the first of them to rise to par. There was very large absorption of other railroad bonds which have been gaining added se- curIy IFOm the ldfSeiy ICItdScu Seiih IT. ings by the railroads in the last fiscal year. Total sales $5,575010.
 United States fours. the fves and the old fours registered. advanced Ac and the threes, when issued Mc in the bid price.
 Money on call steady, 1hc@1kc per cent; last loan, 1A per cent; prime mercantile paper, 31k@4 per cent; sterling exchange firm with actual business in bankers bills al s4 S5t464. .s515 for demand and at A.S31s@ 4.SS% for sixty days; posted rates &.S41a@ 4.s5 and s4.ss14. .s61a; commercial bills. sf.s2A; silver certificates. 5S1kcd59tkc; bar silver, 59c Mexican dollars, 451ac.
 Government bonds strong.
 State bonds dull
 Railroad bonds strong.
 Total sales of stocks today, 322, 700 shares, including 13,05O Atchison preferred; 46OO Kansas and Texas preferred 3,225 Union Pacific Denver and Gulf; 17,615 Cotton Oil; 3.4s2 d preferred: IA 4,135 Tobacco; 3,O6a Lead; g.. .4s9 Sugar; 604O Leather preferred; 16,S26 Rubber; 3,393 Rubber preferred.