The age-herald., 1899-05-24
STOCKS NEGLECTED
 BY OUTSIDE PERSONS
Prices Drifted UneasiIy Up and
 Down.
PROFESSIONALS IN CONTROL
Good Demand for Railroad Bonds, Some Touching Record Prioes-Price of United States Government
 Bonds Was. Unchanged

New York, May 23.-Neglect of the stock exchange by the outside public continued to be a marked feature of the trading, and as usual in narrow market, prices drift ed uneasily up and down following the cratic movements of special stocks. Deal ings were evidently almost wholly con- fined to the professional element who seek profits on a days turn in prices.
 As this class of dealers watch pretty closely for what other people are doing and proceed to do likewise, the net effect in a days business or taking one day with another is not large. Yesterdays late up- ward movement was followed by realizing this morning and later by sharp advance, which was practically wiped out before the close. Sugar was the center of interest In the market and rebounded quite strongly from the carly pressure, together with af- flliated glucose stocks But realizing took off all the early gain and left it at the last 5 points helow the highest and near the low point of the day.
 The early rise in Sugar was accompanied by strong rally in the New York muni- cipal stock consolidated gas, Manhattan, Brooklyn Transit and Metropolitan rising some 2 to points. This concurrent move
 
 an appearance of strength to the market for a time and railroad stocks gained in the upward movement.
 Weakness in wheat, and especially the reported selling from the southwest, helped this movement, but the persistent reports of insect damage and news from abroad that American wheat was practically un- saleabe at present prices, helped the late break in Changers and southwesterns.
 There was growth of uneasiness of the persistent hardening tendency of foreign exchange. The actual rate for demand sterling touched $4.S7A today, which is near the gold export point.
 The continuing ease in money suggests that the methods employed since the Phil- ippines payment to Spain has forced some thing of a redundancy in the local money market resulting in the rather artinclai stiffness of exchange rates. Excnange on Berlin also hardened a fraction today, ai- though that money center was reported to be buying American stocks from London.
 The newly floated industrial stock con tinued rather conspicuously weak. Ana conda broke points and in the outsfae market Amalgamated Copper, the payment of subscriptions for which was compieleu yesterday fell to par, Whhcn IS lhe eu" scripten price.
 The closing on the exchange was easy in tone: although rather dull and showed net losses in all but few eases. There was a good demand TOT sonie U. the reorganization per cent railroad bonds the Union Pacific and Northern Pa- oific Ss both touching record prices. Iotal sales par value SS,T44,000. United States government bonds unchanged.
 The total sales of stocks today amounted to 408, ,s68 shares, including: Sugar, s'ooo, American Tobacco, 9200; Atchison preferred g 300; Brooklyn Transit, $500; Burlington il TOO: Federal Steel 10,5Oo; Manhattan, l9,- 800; St Paul, 5000; Missouri Pacific, o'zoo: Metropolitan, $500; Tennessee Coal ana Iron, s,2se; United States Rubber, S,loo.
 Money on call steady at sQ3ts per cent; last loan, 3.
 Prime mercantile paper, 312d4A per cent. Sterling exchange firm, with actual busi- ness In bankers bills at $4.87AQ4.SS Tor de- mand and at s4851a@4s5% for sixty days
 Posted rates, s4.S61sd4.sS1s
 Commercial bills, $4.S544.So1a.
 Silver certificates, 61q62.
 Bar silver, 61A.
 Mexican dollars. 4SR
 Government bonds, steady.
 State bonds inactive.
 RainOad bonds, strong.