The age-herald., 1898-08-03
In Wall Street..

New York, Aug. 1.-The tendency of the speculation in the railroad stocks to sepa- rate itself from that in the industrial specialties became more marked today than yesterday. The industrials have not yet fallen to a minor place in the speeu- lation, they are likely to do at a time when a widespread general demand up for standard railroad securities, but there were evidences of a continuation Of speculative movements in some of them today, and the realizing was covered by manipulative advances in others. Brook lyn Transit and Rubber were the most conspicuous sufferers from liquidation, while Tobacco and Cotton Oil continued to advance. By far the most significant movement in the market was the enlarg,d demand for railroad stocks. This was most conspicuous in the Changers, but the Pacific railroads also shared in the movement, and there was distinctly broadening tendency all through the list various interests in stocks being large, be- cause belated advances to the higher leVtl were established in the last few days. The Granger movement turned on trafnc possl- biities and was accomplished by 1ntima- tions that some of the group will show an increase in earnings for July in spite or the large falling off in the grain movement as compared with last year. Much lmpor- tance was given to the report receiVeo oy the state department from the omteo States consul at Moscow that Russia IS considering a proposition to forbid the eX- portation of grain, owing to the failure or the crops to make good the past year large depletion in reserves. The fact that gold imports were fairly inaugurateo to- day with the announcement that over tt. hort and over $1, ,5C0,0O0 shipped from Syd. ney for San Francisco had sentimental effect in hardening the market. Ihere was nothing in the local money market, however, to indicate the need Of additiohai funds. ,. ,o,,na,,, +o the hanks on account of war expendi- tnres and there is no appreciable move ment from the interior. in spite or the large increase in business and the movement ol the crops. l., ,oidd1a and lower grade issues, which quite generallv advanced. Total sales, $32l5,Ooo.
 IT s 3's touched 105 today on sales, ana the governments were strong aali arounu on the announcement by treasury onleidi that there would probably be no need or another issue of bonds on account or the 1aree internal revenue receipts under the new law. s
 IT. s. 2's and the old As advanced F, and the 3s, the old As coupon and the new 4s advanced A in the bid price,
 Total sales of stocks today, 269'2Oo snares, including "A 12O Burlington; 3235 L. x N; 776 Cotton Oil preferred 20,664 Tobacco; 41oO Lead; 14,765 Sugar; 7.79O Leather pre- ferred; $50 Rubber; 7,3S7 Rubber pre- ferred. ,ue,,y o,
 Money on call was steady at 1A@l1s per cent; last loan, IF. Prime mercantile pa per. s1b64 per cent. Sterling exchange was frm with actual business in bankers bills at 4S5@4 s5A for demand, and at 4S3.aS s% for sixty days; posted rates, 4s4Rg ASS and 4.s6@4.S61a; commercial bills, 4'S2g 4.s2ib. Silver certificates, 5S9sQ59as; bar sil- yer. 5S%; Mexican dollars, 45ls
 Government bonds strong
 State bonds dull.
 Railroad bonds strong