The age-herald., 1898-06-09
In Wall Street.


 New York June S.-The bears secureu the upper hand in today's stock niarAe' thruogh the instrumentality of sugar. which went through one of it's old-tash- toned acrobatic performances and easi'y dominated the whole list Its fluctuations were frequent and violent over an eX- treme range of over points and though It mad several substantial recoveries eacn successive dip carried it to lower levei than before, and the close was only slight ly above the lowest. The violent declines disorganized torrents of stock Wmch came pouring upon the market In biocks oI l,VV' shares. The quick rally indicated Una. shorts were losing no time In covering. fA realizing movement is generally expecteo iu sugar upon the decartion or oieioehuS' but the savage onslaught upon the stock was doubtless contributed to by the pow erful speculative element which has been working for reaction for several uayS past to buy stocks at lower level than they were sold to realize last week. Today was the beginning of periodical settie- ment on the London stock exchange, ana it has been current opinion in Wall street that there was a heavy outstanding snort account in Americans. St. Paul, in whlch the foreign short account was believed 10 be the heaviest, broke heavily, but there was very large absorption of the stock at the declin, and on the recovery. Although London sold here through the regular ar bitrage houses, there was no doubt some were buying for London short account through other channels. There was very substantial rally in the day on covering or shorts and in sympathy with the strength in individual stocks and later the break in sugar was ignored in the general hst- Among the stocks which maintained show of strength in the face of the general weakness. were the local specialties, lneiuu- ing the gas stocks and some or tractlohs, the Spirits stocks, Des Moines and tort Dodge General Electric Reading, New Jer- sey Central and Denver and Rio Grande preferred The reaction was clearly the re- suit of manipulation in the interest or pro fesisonal speculation and was accompahie9 by wild rumors. The final rally reduced most of the net losses to fractions and lelt substantial gains in many special cases Roth the general and special news or the dav were all favorable to an increase in values, but was ignored in the stock mar ket.
 Prices of bonds were better held than stocks and net gains are better dlstrlputeo Total sales $2,9250OO.
 IT & new As. registered, declined l cent, ditto coupon Ac, the old As coupon 1sc and ditto, registered, 1ac in the pld price; The old As registered declined Bc and ditto coupon 14c on sales from the last pre- ceding sale price,
 SN~-S' loan. 11k per cent; prime mercantile paper. BOA per cent; sterling exchange firm, with actual business in bankers bills at $4S69s for demand and s4.S41A64S4& for sixty days; posted rates, s4.S5Gs4.S; commercial bills. slS4; silver certificates, 59Ss96Oc bar silver. 591sc; Mexican dollars, 451ac.
 Government bonds weak.
 State bonds dull.
 Railroad bonds steady.
 The total sales of stocks today were 44I,SOo shares, including Atchison, preferred, 2l,- 126: Chesapeake and Ohio. 5,225; Burlington 17.5sO; Big Four, 9,395; Denver and Rio Grande, preferred, 3.o75: Louisville and Nashville, S,1S2; Manhattan. 13,172; Metro politan, 3.112; Reading, preferred, 16,OOO; Missouri Pacific, 4.445; Kansas and Texas, preferred, S.459: Northern Pacific. 14'7oo; Northern Pacific, preferred, 17,44s; Rock Island, 6,S75; St. Paul. 3O,07o; Union Pacific, preferred, 2Oo7S; American Spirits. 19,432; American Spirits preferred. 6,575; Tobacco, 17,175; Chicago Great Western. 12,S25; Peo- ples' Gas, 11.6s2; General Electric. 7.437; Sugar, 75,335.