The age-herald., 1898-09-15
D25c; sugar
In w all Street.

New York; September 1.-The unsettled tone of the speculative mind over the money market outlook was relieved today by the announcement of further gold ex- ports. Actual engagements were announced at $1,600,000 and rumors were rife of very heavy additional sums which are to come this week. Rates for call loans on the ex- change broke sharply to 21a per cent. A very active buying movement developed, which was in large part from professional traders who had gone short on the mar ket on conviction that money rates would hold firm for time and that call money would be subjected to Occasional f1urries from the calling of loans that would share out large lquidations of stock. The course of the exchange market gave warning early in the day that relief was at hand for the money market in the shape of gold imports Posted rates were marked down 12c and actual rates fell Hc, the price for demand sterling reaching $4.S4, which is easily with in the gold import point. The market dur ing the earlier part of the day was largely confined to the specialties. Sugar, Iobacco and the constituent companies of the Fed- eral Steel company were all markedly weak The railroads rallied early in the day, but were weakened by the decline in the spe- cialties. They offered strong resistance 10 the decline however, and advanced easlly and quickly all through the list after mid day. The local traction stocks, including Brooklyn Rapid Transit, Manhattan and Metropolitan Street Railway, were also strong. The industrials specaities recoV- cred nearly all their losses in the afternoon on covering of shorts. Sugar was an ex- ception. This stock opened off 212 per cent'' allowing for the per cent. dividend.
 1,,rf 10 O the general strength in the market Wheh the stock rallied per cent, but in the late dealings it fell an extreme IA point There was a very determined support at ana De- low 127, and the bears desisted rom their attack This gave time for the general market to rally again to about the pest, the closing being active and firm at net gains reaching point or over in many stocks The Changers and Pacihcs were conspicuous in the railroad list. The el- feot of the easier money market was m q large part sentimental, as the stock mar ket depression has been due to an appre- hension of future stringency rather than to actual present conditions. The convic- tion had gained force for several days that scarcity of money is apparent rather than real and the fact that the payments on the government loan are almost completeu gives assurance of early relief from the decline on that account. The government disbursements in the form of expenditures and the distributions of the new bonds are certain to result in a plentiful supply of money at an early day. There was a growth of demand for bonds, and prices rallied in sympathy with stocks in the lat ter part of the day Total sales, $2,SOO,0U0. United States 3's when issued advanced 1s per cent in the bid price. There were large, transactions in the 3's at 1O51sQ1Ooss, the latter being the last price.
 Money on call firm, 21sc@41ac; last loan, Sc; prime mercantile paper, 4cQc; sterling exchange weak, with actual business in bankers bills at $4S4@4.S414 for demand and at $4S2A@4S214 for sixty days; posted rates at s4S3a4 s91b and $4.S5a4.S51s1s commercial bills, $4.S1@4.S11a; silver certificates 6OAc@ 61c bar silver 6Oc; Mexican dollars, 47c.
 Government bonds firm.
 State bonds dull
 Railroad bonds firm.