The age-herald., 1898-05-26
RIORDAN & co.
In Wall Straar


 New York, May 25-1t was a day of manoeuvering for position between the opposing clements among the traders on the stock exchange. The bear faction took heart of grace and tested the market at various points with a view to dislodging some of the stocks which were bought yes terday in the excitement over the supposed victory in Cuban waters. The complete discreditng of yesterdays flood of rumors made the market seem very vulnerable this morning. Declines for Americans in London added to this appearance, ard there was selling for London account In the early dealings in place of the rather urgent buying. which was a feature of yes- terday's market. The completion of the settlement on the London exchange appar- ently ended the demand which was att tributed to large outstanding short inter- est. But the early reaction did not go far and was checked by the vigorous support and stimulated rise of a number of the leading specialties, including Manhattan and Metropolitan Street Railways on re- vived rumors of consultation {" gar, Peoples Gas and New Jersey Central were also strong and sustained the market and a little later Third Avenue joined the local traction stocks with jump of six points. Most of the Vanderbilt stocks dcvel ped strength after buying of New York Gen. tral had lifted it's price to 117R A number trunk lines and coalers shared in this strength. But the railroad lists as whole continued very sluggish and did not re- spond readily to the impetus which 1t was sought to impart by this lifting of special stocks The demand proved very light and prices dropped The bears were thus en- outraged to more vigorous measures to bring about decline. Their attack was directed against the specialties with a view to uncoverng stop-loss orders This they succeeded in doing in Metropolitan Street railway Tobacco or one or two other specialties. Declines in these stocks ranged from 1 to points, and in some railways extended to point. No general liquidation was induced. however, and there was some covering at the decline so that the market rallied and closed dull and firm. Manhat- tan showed some resistance and retained a. good part of it's advance. In the railroad list some of the Vanderbilts and Coalers closed higher. Minnesota iron, Third Avenue and Great Northern preferred con tinued to shoy' conspicuous strength. strength. Otherwise net losses were the rule. From the speculative point of view the bottling up of the Spanish fleet Tn Santiago seems to be considered the next best thing to the defeat of the fleet In battIe The issuance of the presidents call for 75 900 more volunteers was made some use by the bears in their afternoon raid.
 There was not much doing !n the bond market, but prices were firmly held. Total sales, 2,400,000
 2 Tinted States old fours registered ad- vanced A and ditto coupon 16c in the bid price. The new fours were bid up as bet ter but declined again.
 Money on call steady at 1911s per cent; last loan at 11s per cent.
 Prime mercantile paper. 495 per cent
 Sterling exchange steady, with actual business in bankers bills at $4.S6AQ4.S61s for demand and at s4S4A@4.S41A for sixty days. Posted rates. s4.S5 and A.S71k. Commercial bills, 4s2t564S3 Silver certificates, 57AG5Sc. Bar silver. 5711c. Mexican dollars, 45Ac. Government bonds strong. State bonds dull. Railroad bonds firm.