The age-herald., 1898-12-06
MARKETS.

New York, November 5.-There was much
 interest and curiosity manifested in Wall
 street today regarding the presidents mes
 sage When it was published it was found
 to be so free of matter calculated to affect
 the value of securities that the course of
 prices was left to the influence of technical
 causes. The recent view of professional
 traders has been that the message would
 prove to be bull document and they have
 bought stocks secretly under that convic--
 tion. Upon the publication of the message
 it was natural therefore, that this element
 should sell to take their profits But the
 chief effect of the anticipation of the<mes- sage was to curtail operations in the stock market. This tendency was emphasized by the absence of telegraphic communication
 with many points in the country owing to
 the storm. There was not entirely lacking
 also the proverbial disposition of stock ex-
 change traders to feeling of timidity over the advent of a session of congress. There is something of a prejudice in Wall street against some of the measures which repre- sentatives and senators assembled at Washington to design for the public welfare and desire to be let-alone in methods for the profitable employment of capital against which congressional legislation is at times directed. The prevailing tone of the market therefore became increasingly heavy as the day wore on. There was pe- riod of conf arative strength in the morn | ing and especially in some of the stocks which showed strength last week. Metro politan Street Railway mounted strongly | AZ points and then reacted 31s on realizing, upon the increase in the quarterly dividend to all annual per cent. from a 5 per cent. rate Pacific Mail and the iron and steel stocks continued moving upward, but re- acted sharply before the close, particularly Federal steel. Sugar fiuctuated quite ir- regularly on'the varying rumors concerning. | the status of the competition in the trade. There was rather notable advance in | group of the Gould stocks and some of the l low priced railpoad shares were also strong. l United States Express rose to 57s at one | time, but reacted to 55, and American Ex- | press dropped points, The majority of l the standard stocks were, however, notably
 dull and for the most part heavy. This was l especially true of the grangers and the Pa 1 cifics There was some firmness manifest l in the coalers on the strength of the cold 1 weather.
 | The bond market was decidedly more ac- | tive than stocks and prices were better | maintained, though there was a reaction l from best prices in the late dealings. A | number of lately dormant shares were | brought into activity and moved sharply | upwards. Total sales, $5,305 ,000 1 United States 2's advanced IS in the bid l price,
 New York, December 5.-Money on call steady at 2Q21a per cent; last loan, 211 per cent
 | Prime mercantile paper, 3A@4 per cent l Sterling exchange easier with actual bus
 mess in bankers bills at s4.S440 0li S41k for de- mand and at s4.Sl1kQ4.S1N for sixty days. Posted rates, s4S2Q4.S21a and $4S51s. l Commercial bills, AS0h.
 | Silver certificates, 601e@61h. Bar silver. 59 11-16.
 | Mexican dollars, 46ss. ii Government bonds frmer.