The age-herald., 1899-09-01
STRONG OPENING
 IN STOCK MARKET Securities Proved PowerIeSs to
 Sustain Prices. THE SCARCITY OF MONEY Bonds Were Rather Quiet With Chang s Small and Irregular, and Total
 : Sales at Par Value Amount 2
 ing to $3,3o5,ooo
THE SCARCITY OF MONEY

New York August 31.-There were many items in the days news which favored an advance in the prices of securities. They were effective early in the day but proved powerless to sustain prices. The higher level and gains. except in few cases. were pretty generally wiped out before the close.
 The improvement in the tone of specua- tive markets abroad gave an upward im- pulse to prices at the opening. London bought quite freely of favorites among the Internationals. The buying from this source Is attributed to the operations of prominent New York operator making a holiday sojourn in London. After the or ders for London account had been executed in this market the railroad stock fell some- what into the background and the Indus- trials were brought forward. The leaders or the group, especially the Tobaccos, were under rather severe pressure, and showed sharp declines. Later there was some i'm provement on the strength of the strong showing made by several railroads in July earnings. Burlington was the leader with an increase in surplus after charges of over s5O0O0. The Central of Georgia rail- ' way formed a marked exception with a decline in net earnings of nearly $25 900 compared with July of last year. Lacka- wanna was marked up on the settlement or the dispute with the engineers and there was some sympathetic strength in , the other coalers. Meantime the short in- 7 terest in Consolidated Gas showed signs of . distress and marked up the stock 8h ex@ dividend.
 The bears were inclined to cover sympa- thetically in the other industrials. but re- alizing In Continental Tobacco, preferred, on the declaration of the first dividend, caused them to decline again. There was continued strength in the Republic Steel stocks, but the promising movement in Federal Steel late yesterday was promptly met by realizing today and the stock of that company was heavy all day.
 Steel and Wire failed to show any re- sponse to the admission of the stock to the listed department of the exchange. The Chicago and Eastern Illinois stocks showed individual strength and the common gain ed 6h and the preferred Az. Colorado Midland preferred and Rio Grande Western common and preferred were strong. The persistent heaviness of the market and the marking up of call loans prompted a gen. eral calling movement in the last hour, which carried off prices to tine low point. There was a slight hardening in railroads, but the industrials were attacked again in the final dealings. There was no apparent resumption of operations by the organized pools recently.
 The security of money was attributed to preparations for the regular monthly set- dement's, but the New York banks contin- ued to lose cash to the sub-treasury on ac- count of tfle customs and internal revenue payments, and there is a balance of ship ments to the interior over receipts. New York exchange at the principal interior points continues at a discount Exchange oot1 on London and Paris receded frac- lion.
 New York, August 31.-Money on call steady, 3@3la per cent; last loan, per cent.
 Prime mercantile paper, 4A@5 per cent.
 Sterling exchange easy with actual busi- ness in bankers bills at s4.S6@4. .86A for de- mand and s4S3@4S3A for sixty days
 Posted rates, $4s4@487h.
 Commercial bills, $4.S2
 Silver certificates, 5S%@60.
 Bar silver, 5S 15-16.
 Mexican dollars, 47h.
 Government bonds steady.
 State bonds strong.
 Railroad bonds irregular.
 By Private Wire to Talbott 6 Palmer.