The age-herald., 1898-02-19
Cotton Letter.

New York, Feb 1S.-Dulness seems to have again become the chief characteristic of the cotton market Today the trad ing was without pronounced feature. Liver pool advanced orge-half sixty-fourth which was considered sufficient, and our market opened unchanged. The movement for the week was enormous, but attracted no inter- ests. Reports from the south indicated but little disposition on the part of ho.d- CTS there to accept present prices, and there was not pressure to sell here. Some local short covering caused prices to ad- vance little after the opening May opened at 6.04, lost point, then advanced to COS, and closed at 6.06 to GOT, with the tone of the market quiet and steady. Theme is nothing new in the situation RIoRDAN & co.
 Tn Wall Street.
 New York Feb. 1S.-The tone of the speculation was doubtful and hesitating in Wall street today, and large prepon- derance of the days dealings was in su- gar and the grangers. Nearly sixty per cent of the total transactions were in these stocks. Coupled with the fact that the total sales of all stocks showed a marked decrease from the recent average, the large proportion absorbed by the specialties formed a significant commenta- ny upon the condition into which the mar ket has fallen. After the opening weak ness, due to sympathy with London and some other foreign exchanges has been overcome, it looked as though the strength radiating from the grangers had prevailed in the market, but the increasing weak ness of sugar coupled with fall in the prices of local New York specialties in the final hour was a decisive factor in driving prices below last nights level. The radical utterances made in the course of the debate precipitated in the senate on the Maine disaster also engendered distrust in the minds of spectators, and prompted liquidation. Business on the decline was by far the most animated of any during the day.
 The grangers were largely influenced by the conditions in the wheat market, but there was also special causes at work in their behalf. Gossip was rife as to the prob able action of the St. Paul on the dividend rate, the rumors all pointing to an in- crease. The absorption of this stock was credited to a powerful financial interest which was said to be selling out it's hold ings of sugar at the same time. London supported St. Paul stock freely and sold other international stocks here. Rock Is- land responded to the action of the direct ors in calling the debenture and extension bonds thus assuring the stock the bene- fit of an early reduction of fixed charges. The Union Pacific, Denver and Gulf se- curities were strong. Adams Express was an instance of strength, selling at 11S1s, an advance of 31h as against sale at par on Tuesday ex-dividend and ex-1o0 per cent in bonds, representing the distribution of the surplus.
 The bond market held firm. except that some of the speculative issues yielded in the late dealings. There were heavy in- dividual transactions in Union Pacific As Texas and Pacific 2s and Rock Island ex- tension 5's. Total sales, $4520,000.
 United States old fs coupon were Y higher bid, and the old fs registered II higher.
 Money on call easy at 1k01h per cent; last loan, 1A.
 Prime mercantile paper, sQ4 per osnt.