The age-herald., 1898-08-25
n Wall Street.

New York. August 24-There were several quite important elements of positive strength in the stock market today but the preponderating influence of several features and the very heavy profit taking by large holders of leading stocks nullified them. The last prices were in nearly all cases be- low those of last night. The London mar ket followed yesterdays New York's weak ness and affected the opening here causing defines in some of the internationals The Srangers made strong opening in spite of Alling for London account on account of high level of earnings disclosed by St. Paul's statement for the third week in Au- gust The increased movement of grain in the northwest which has weakened wheat for the last fw days is probably reflected in these earnings, which were 33,35S in excess of last year and over $14000 in excess of the nigh level for the corresponding period in 1892. The grain movement though aug mented, is not yet up to last years. level, and the large railroad earnings are due to general traffic resulting from the more ib- eral outlay of last years profits by the people of the west. The sharp advance in the grangerS at the opening due to buying by commission houses and by bidding up of prices by traders are said only in bringing heavy offers to realize. There was a change of speculative interest from St. Paul and the grangers into som lower priced stocks with dividend prospects. Northern Pacific was most conspicuous in this class and was absorbed in enormous blocks, closing at the top at an advance of 1%. Union Pacific Sympathized in a less degree, but the preferred stocks in neither case were largely taken. Rumors of an agreement to arbitrate the war with the Canadian Pa cific helped to impart strength to the trans continental roads. There was very good demand for Peoples gas and marked strength in some individual stocks, but these were not sufficient to offset the per sistent profit taking. Manhattan was weak and closed points below last night. The New York banks continue to lose money to the sub-treasury on account of bond sub ScriptionS and there is still difficulty in obtaining the new bonds to serve se curity to the government for the deposits of public funds. There is decided ten dency also toward a falling off in govern merit disbursement for war expenditures and interior demands for money are in creasing this week. A fall of A in the tual price of sterling exchange is sugges- tive of the source from which prompt re- lief would come for any stringency in money. A curious result of the financial strength of this country is the strength of the Spanish fours today.
 There was marked strength in some of the speculative bonds today, but prices re- acted to some extent III sympathy WltH idl CT weakness in stocks. Total sales $4,41O- 900. H
 United States 2s advanced 1 and the 3s when issued declined 1s in the bid price
 Money on call firm at 11s@2 per cent; last loan, per cent.
 Prime mercantile paper, 31sQi1s per cent.
 Sterling exchange easier, with actual busi- ness in bankers bills at $4.S5Q4.S5A for de- mand and at s4 s4s3iad4.S3s4 for sixty days.
 Posted rates, $4.S+@4.S5 and $4.S644S61s. Commercial bills, $i.S21a.
 Silver certificates, 59l4Q59&.
 ar silver, GOA.
 Mexican dollars, 4612.
 Government bonds steady.
 State bonds dull.
 Railroad bonds easier.