The age-herald., 1899-06-21
PRICES IN STOCKS
 MADE AN ADVANCE Though Not Conclusive of Mar
 ket's Settled Condition. PROFESSIONALS PROFlTtD
Covering of Short Contracts by Tester days Bears a Feature-The Gen. eral Weakness of Government
 Bonds Was Unexplained

New York, June @.-Today's advance in prices of stocks after an early weakness, was no more conclusive of a settled condi- tion of the speculative situation and of the future course of the stock market than was yesterdays decline.
 There was a brief and spasmodic period of liquida ton in Federal Steel and Ameri- can Steel and Wire in the opening dealings and the professional brokers party took advantage of this to make 8 drive against the whole market. But the brief duration of the decline and the firm resistance of fered by prices at the low points warned the bears of the futility of an effort to break the whole market. They, therefore, took their profits on the decline of yester- day and this morning by buying stocks at the low level. There was some organized buying of the Flower group of specialties, not only in support of Federal Steel, but for the long account in Brooklyn Transit, Peoples Gas and other specialties.
 The action of the wheat market prompted some buying of the grangers also. The continued weakness of wheat in face of the well defined information of poor crops in Russia and eastern Europe made the con clusion unavoidable that supplies of Ameri- can wheat were believed to be forthcoming by those who are best able to judge. Aside from the stock market, the market contin- ued very narrow and professional and could not be said to represent anything more than the covering of short contracts by yesterdays bears.
 The opening in both Federal Steel and Steel and Wire was wide, 5000 shares of the former selling at a drop of 11a to 8 points, and 6,O00 shares of the latter show Ing simultaneously tranaction from 1A to 29s below last nights prices. The motive, o1 course was the granting of the judicial injunction against the payment of IA per cent. dividend which has been declared on Federal Steel common on the belief that the expiration of the fiscal year the prior right of the preferred stock to its per cent. dividend could not be insured>
 The statement of President Garry that a sufficient sum had already been set aside to pay yearly dividend on the preferred stock was the decisive influence in the way of both stocks. The net decline for each on the day is only about point. Rather con Spicuous strength was shown by the Union Pacific stocks, New York Central and Penn- sylEania, in the late dealings, but as these have recently had sharp declines, their rel RtiVely greater advances were but natural.
 Operations by outsiders through commits sion houses continued al a minimum. Sugar was strong, continental and American to- bacco was weak and the local traction stock moved upward Some apprehension still exists over the threatened situation in France and in South Africa, and the ruling prices for money in Berlin, which is the re- suit of a rather unbridled speculation The advance in money in Berlin was restrained in higher discount rates in London and an advance in the rate for sterling exchange here, which is believed to foreshadow a luther outflow of the gold. The rate of ex- change on Berlin, however, eased off a fraction in New York rather inconsistently.
 The general weakness in government bonds was unexplained. Railroad bonds were heavy. Kansas City, Pittsburg and Gulf frsts dropped 212.
 Total sales, par value, I,SOO,OOO.
 United States new As and the Ss registered declined 15c; United States 3 coupon, the old 4s and the 5s, Hc in the bid price
 The total sales of stocks today aggre- gated 986,514 shares including: American Steel 45, ,400 American Sugar, 29,90O Atchi- son, preferred, S,GOO; Brooklyn Transit % 900; Burlington, 12,0O0; Continental To bacco, 45 100; Federal Steel, AS50O; Federal Steel preferred, 2, TOO; Louisville and Nash vile, 9eJO; Manhattan, S,S0o National Steel, 3G00: Peoples Gas, 5000; Reading first pre- fcrred, 1O,6CO; St. Paul, 11,500; Chicago Gas, 13 800; Metropolitan, 7,200; New York Gen. tral 6,70O; Tennessee Coal and Iron, II GOO.
 Money on call steady at 1$4Q2 per cent; last loan, 2 per cent.
 Prime mercantile paper, 3G3A per cent.
 Sterling exchange firm with actual busi- ness in bankers bills at S4.SSG4. .S9A for de- mand and at $4. s5s4 94S6 for sixty days.
 Posted rates, $4. 4.S619a4 .S7 and $4.S9.
 Commercial bills, $4. .S5d4.S5A.
 Silver certificates, 6012Q62.
 Bar silver 603s.
 Mexican dollars, 4S1a.
 Government bonds weak.
 State bonds inactive.
 Railroad bonds heavy.