The age-herald., 1898-09-02
Tn Wall Street.

New York, August 1.--Today's stock mar ket was dull to the verge of stagnation for practically all of the standard stocks. There was no severe pressure of liquidation but neither was there any demand to buy. Evidently the elaborate manipulation Of the bull clique which, in view of the fa- vorable conditions, was expected to invite a prolonged outside buying movement, which would carry prices from one high stage to another has come to naught for the time being. The professionals nave realized but the new holders are Vuinera- ble to the machinations of the bear clique, and are loath to hold their stocks in de- clinng market. There is constant drip- ble of realizing offers and a sagsing or prices. The market was redeemed from absolute dullness today by movements ln snecial stocks. Sugar and Manhattan were marked up by the bears. Peoples Gas re- acted on the failure of the agreement amongst inside interests expected to real ize from yesterdays conference Ihere was large absorption of both Northern Pacific preferred and Union Pacific preler- red Union Pacific'S favorable statement for July giving the movement -@resn HIT petus. The common stocks poth suilereu from houidation. The projects of the new Feredal Steel company were reflected in the activity of various stocks affected. 6en- eral Electric, Consolidated Ice, New hork Air Brake and Baltimore and Ohlo, the Cleveland Wheeling and Toraln stocks' Buffalo, Rochester and Pittsburg stocks showed marked advances.
 So far as the outlook in the money Ihaf ket is concerned, there is prospect of easier conditions. There was no more soio iih- ported today, but sterling exchange was weak and London money rates are still De-
 Ierh r. dened further today. The announced m tention of the treasury department to al- ticipate the October interest payments on the 4 per cent. bonds will release over So,- O0O0eO to the market It Is expected also that the distribution of the new govern ment Ss will be much more rapid rom thls time on and will be completed by Septem- Der l5. This win serve to hquidate a large amount of loans made by New 1ork banks for financing subscriptions to these pohos and will also make the. bonds available as security for deposits of glut money In na- tional banks and for purposes Of clrcula- tion At the same time the action or the treasury in anticipating interest payment is an indication of rather pressing needs Inf the money market. Such a measure has not been resorted to since the perloo of Secretary Windom's administration, when the old tariff law was yielding a sur plus revenue. .,.s- ,.-,,.-..-
 The bond market shared in the dullness of stocks and prices yielded before the end S of the day. Total sales were $2,090,ooe. Quotations for government bonds were ui- changed. The new 3s are S lower on ac- tual transactions.
 Money on call firmer, 2@3 per cent; last loan per cent.
 Prime mercantile paper, 3%q6 per cent.
 Sterling exchange, weaker, with actual business in bankers bills at s4S4%@4S5 for demand and at $4S21z@4 S234 for sixty days.
 Posted rates, $4.SS14@4s4 and s4S
 Commercial bills, $4.S2.
 Silver certificates, 591sq6O1sc.
 Bar silver, COG.
 Mexican dollars, 461sc.
 Government bonds steady.
 State bonds dull.
 Railroad bonds easier.