The herald., 1898-02-12
Nine mortgages under s1oOo........... BOSS
Total SCI, ,2s5
Releases. $1,000 and Over
ON CHANCE
Conditions Shown by the Dealings on
Wall Street

Conditions Shown by the Dealings on
Wall Street
NEW YORK. Feb. 11-There was
profit taking on quite a heavy sale on
stocks today, said to be for the account of
one of the principal bull operators. The
interval Of two days before trading will
be resumed on the exchange was the mo-
tive for closing up accounts, as Is always
the case on the eve of double holiday.
The sharp advances in some stocks at the
opening afforded most favorable opportu-
nifty for realizing profits.
Metropolitan Street Railway continued
Its remarkable advance, rising at one time
six points and closing two points below
the highest. Third Avenue was up at one
time 6la points on the announcement of the
acquisition of large connecting system.
The days dealings in bonds continued
on remarkably large scale, single lots of
par value from $4,000 up to $l50000 chang
ing hands frequently. The par value of
sales for the day of Atchison adjustment
fours alone was $4,000.
There has been strong tendency to re-
action in the stock market at times during
the week. principally due to apprehensions
regarding the Cuban question.
The market seemed to be in the hands
OF giants in speculation and they refused
to offer their hearings on declining mar
ket so long as 1t is capable Of being
checked by support That the market is
heavily over-bought for great speculative
accounts looked to be ultimately sold for
profits is generally believed.
The buying of stocks on the New York
exchange for London account has been
heavy during the week, the demand for
Americans having been quite active in
London and at other foreign centers. Be-
sides the record transactions there are re-
ports of very heavy blocks of securities
having passed to the hands of European
holders at private sales from the hands
of reorganization in this. In view of this
absorption of American securities abroad,
the upward tendency of the foreign ex-
change market during the week is some
what contradictory. But the easier rates
for money here have been attended by
stiffening of discount rates abroad and
this has naturally induced the withholding
OF exchange in order to draw the high in
terest rate abroad.
Dealings in the bond department of the
market has continued on an unprecedented
scale during the week. The speculative
issues have moved at times in sympathy
with the reduction in stocks but prices
are materially higher all around.
United States fours and the old fours
registered are * lower bid and the fives
X higher bid on the week.
Bradstreet's Report
NEW YORK. Feb u.-Bradstreet's to-
morrow will say: A number of favorable
circumstances and events present them.
selves this week. Perhaps the most nota-
BILE of these are the renewed activity in
the iron and steel market, accompanied
by prompt and evn rapid advances in sew
eral grades of pig iron and steel and the
or dxrn raA tt. h., x<vs.@ -.
predicted but unrealized until the pres
ent week What might be regarded as a
minor feature in the business situation,
though at the same time containing much
That is hopeful to the interest involved is
quite general improvement in distribu-
tive trade and demand in the central west
ana IN the south, where spring trade is
reported opening in good shape. Less IA
vorable features of the week are the slow
ness of spring trade in dry goods at New
York and other eastern centers except
Boston, and the mild weather in the north
west, rendering it likely that retailers
stocks carried over will be longer than
earlier expected. Although the advance
in cotton has been claimed to be too rapid.
1t has undoubtedly impaired a much more
cheerful tone to the southern business sit
uation and with the advance in iron and
steel has done much to add to the conf
dence with which the trade outlook for
1898 is regarded. Business failures con-
tinue to make favorable comparisons with
previous weeks and years, the total for
the week just ended being 27S, against 295
last week, SO1 in the corresponding week
of 1897 and SS1 in this week of 1896. Cana
dian failures for the week number 81.
against AZ last week. but compare with 54
In this week year ago and 20 in the cor
responding week of 1896
Wheat exports fall slightly below last
weeks reduced total aggregating for the
week 3.419.5N bushels, against 3,6S5 900 BUSH
els last week, 2,05l,0O0 bushels in the corre-
spending week of 1897 and 2,71S,O0O bushels
jim 1895.
Corn exports show gain amounting, as
they do, to 4,50S1OO, against 100000 BUSH
els last week, 4,l690O0 bushels in this week
last year.
Bank clearings continue to point to an
immense business doing in the country
at large in total aggregating for the
week S,4S4. 00O000 less than per cent
smaller than last week, 92 per cent larger
than in the corresponding week last year,
and 5S per cent larger than this week in
1896