The age-herald., 1898-02-03
Tn Wall Street.

New York, Feb. 2.-The stock market was under liquidating pressure today but the strength of some special stocks and manipulated advances of others made the market exceedingly uneven.' There were numerous halts in the liquidation during the day, and partly successful attempts to achieve rallies, so that the day was one of constant changes, some stocks mounting upward strongly. while the market was tending downward. There was every evil dence of continued heavy selling to. take profits in some of the most prominent fa- vorites in the recent speculation, notably Union acific and the Vanderbilts
 Quite large element of the professional traders sold the market with good deal of vigor and confidence. Nevertheless of- ferings were very well absorbed and most of the net losses of the day are confined to fractions The early transactions showed positive strength under a combination of influences. Among these was considerable buying for London account. There was quite large volume of buying orders from commission houses also. The new securi- ties of the Union Pacific in the unlisted department of the exchange advanced with something of a ush over the opening pr.tes and imparted strength to the whole mar ket. Baltimore and Ohio advanced 11a over yesterdays high point With the exc cution of accumulated buying orders the bearish tendency of traders grew and ob- tained the ascendency. There were va rious reasons given to account for the de- cline Among them was the cutting Of rates between Minneapolis and Chicago and the apparent hopelessness of agreement as to rates on expected Klondike business
 The Grangers showed themselves espe- cially sensitive, and were hurt also by growing apprehension over the outcome of the Nebraska maximum freight rate case which is awaiting decision by the supreme court Great Northern preferred added 6 or more points to its advance Of yesterday The reading stocks were strong on rumors of the sale in London of about SC OOO ,O0O of the company's bonds. Norfolk and Western preferred gained sharply on the dividend declaration Notwithstand- ing these exceptional clements of strength the general tendency of the market was towards weakness. Rumors of losses sus- tained by local bank through injudicious loans encouraged the reactionists The rates for exchange hardened shade on
 
 rates for money, which continued to work to an easier basis. The days exchanges at the local clearing houses went to the enormous total of $204 ,221 1925, ref1ecting some very heavy financial operations. The details of these could not be ascertained. The bond market contiued strong on a large volume of dealing. The Kansas Pa cifc consols were decidedly unsettled first advancing a fraction. then reacting to 1Os, and later recovering to 110%. a net loss of H. Total sales $5,000.000 s5ssa <. l Money on call easy at 1A@1A per cent; last loan, 1% per cent. ssts
 Prime mercantile paper, BOA per cent.
 Sterling exchange strong, with actual business In bankers bills at $4.84B@4.85 for demand and at $4.S2aa4S2% for sixty days.
 Posted rates, $4.S3l1z@4.s6.
 Commercial bills, $4.S2.
 Silver certificates, 561kQ57A.
 Bar silver. 56as.
 Mexican dollars, 45N.
 Government bonds irregular.
 State bonds dull
 Railroad bonds firm
 New York, Feb. 2.-Total sales of stocks today 100000 shares, including Atchison, preferred 1885; Baltimore and Ohio 14,000; Chesapeake and Ohio S,710; Burlington and Quncey S3,3S2; D. and R. G., preferred. B. $50; Louisville and Nashville, S9O5; Manhat- tan, 12,170: Reading, preferred, 2s,130; Mis- souri Pacific, 4750; New York Central ST. 5O3; Northern Pacific 9,52O; do preferred, 15,925; o. and w., 16.125; Reading, 6,9S2; Rock Island. 1887; St. Paul. 16,27O; Tobacco. Ill.,