The age-herald., 1898-08-24
In Wan Street.

III WI 0lree-.
 New York, Aug 29.-There was nothing in the general situation either in the political or the business world to account for re- action in stocks today. The market ggas simply oyerbought and was subject to a process of resting. which whether designed to do so or not inevitably readjusted prices through bases of value. Yesterdays heavy profit taking on the part of some powerful interests who had been buying stocks in the confidence that they would advance in price, led the way naturally to today $ movement. It became evident at t0 open ing that strong support for the leadsrs had been withdrawn In the grangers even the outside buying, which has so eagerly ab- sorbed these stocks for some time past, showed marked elimination. There were even selling orders in the commission houses for outside account. But the out side speculative public failed to show the aggressive confidence in their holdings re- gently manifested by the powerful bull clique. Neither had they the combined re- sources at their command to come in and support stocks on the declining market. The weakness of the hands into which large amounts of the grangers had fallen was made evident by the heavy stop loss orders which were unmoved by the decline of 1H to 1a4 in the grangers at midday. But the torrent of offerings at the low point fell to interests that were waiting and willing and which effected a substantial rally <e comparatively light transactions. The rail- road list generally moved in sympathy with the grangers, the break in them put ting an end for the time being to the strong upward movement which had set in in some of the low priced southern and western rail- road shares. The early weakness was &C., centuated by the persistent saggtng of folT in t on the day. Brooklyn Transit was also under severe pressure and Consolidated Gas and some of the other specialties suf- fered from withdrawal of support. The early weakness of Peoples Gas and the subsequent strength probably reflected the passing phases of efforts to adjust busl- ness dispute. Metropolitan Street Railway rose at one time points without any news to account for the movement. The interna- tional paper stocks, Rio Western,s West Chicago Northwestern, Chicago Terminal preferred and a number of other stocks gave evidence of a special strength in race of the general tendency Of the market. There was a very marked falling OH Tn ac- tiyity after the midday shaking out sus- gestive of a pausing to take breath. Ihe days net declines are most small put the greater part of the days business was dohe at prices materially lower than the closing.
 The disposition to take profits was also manifest in the bond market where prices change irregulary on decreased Voiunie of business Total sales, S3,n5,OO0.
 United States new As and the old As reg istered declined A and the old As coupon advanced A on the bid price,.
 Sales of stocks 52S,300 shares, including 14,347 Atchison, preferred; 22,45O Louisville and Nashville; 3,465. Southern; 4,S75 south ern. preferred; 20,S5O Texas and Paclnc; o3 $40. Union Pacific, preferred; 9,79o Cotton oil: S.29O Tobacco 7,250 Lead; 33,S2O Sugar; 10s4S Tennessee Coal and Iron.
 Money on call steady, 11a@2 per cent; last loan. 1% per cent; prime mercantile paper. 31h04 per cent; sterling exchange firmer, with actual business in bankers bllls at s4 .s511@4. .S51b for demand and at A.sSA@ ASA for sixty days; posted rates. 484oa4. s412 ard S4. .83l4. .S3h; commercial bills, $4 .S21a@ 4s3.
 Silver certificates, 5sAc@5s34c; bar silver, 601hc; Mexican dollars, 461sc.
 Government bonds irregular.
 State bonds irregular.
 Railroad bonds irregular.