The age-herald., 1899-08-08
PROFESSIONALS
 IN STOCK MARKET New Ventures Did Not Play Much
 Part in Proceedings. A GROUP OF SPECIAL TIES Money Continued in Supply Bonds Were Generally Dull and Heavy,
 With Total Sales at Par
 Value of $2,45o,ooo

New York, July 7-Today's stock market was largely professional and seemed to move in response to the closing out of speculative accounts rather than from any new ventures. A group of specialties which were lifted last week reacted sharply on profit taking, while those that had been raided by the bears last week tended to- wards recovery. The Tobacco stocks and Tennessee were the most acute sufferers on realizing. American Tobacco fell off 2h points, with only fractional rally and Ten nessee Coal dropped an extreme 2A. The Continental Tobacco and securities of com panies directly or indirectly in the steel trade were also affected. There was a continued upward movement in Kansas City, Pittsburg and Gulf, the extreme ad- vance reaching A. This stock became feyerish in the late trading and closed with net gain of 1A. The announcement of the purchase of receivers certificates by the reorganization committee may have nad something to do with the strength. support was manifest in the Wisconsin Central issues and the Ptttsburg, Cincin- natl, Chicago and St. Louis stock, which closed and points higher respectively on the day There was a strong upward movement in Northern Pacifics, the extreme AiSS IedcHiHB IA. HIS induced pear cover ing in Union Pacific, resulting in an ad- vance of a point in that stock. The Smelt- ing stocks were very firm and in the late dealings New York Central was lifted s4 on the good showing of July earnings, while Pennsylvania moved a point in the opposite direction. Lackawanna and Pa per dropped 212 each. The attitude of spectators was for the most part an await ing one, and there was no severe pressure to sell, notwithstanding the low state of re- serves shown by Saturdays bank State- ment. Money continued in supply at per cent. The bank holiday in London left no means of gaug1ng the money market there, but the advance from Az to 5 per cent of German Imperial banks rate of discount reflected the continued process of drawing offered to London center. This did not pre- vent fall of a fraction in the rates of sterling exchange in New York. There was no sign of acute apprehension over the money outlook in the stock market, but attention is keenly centered on the money resources of outside domestic centers with a view to estimating the demands which will be made on New York for moving the crops.
 Kansas City, Pittsburg and Gulf firsts rose per cent. on heavy purchases and re- acted per cent. Otherwise the bond mar ket was dull and heavy. Total sales, $2,- 440,000.
 United States new Is advanced F per cent. in the bid price.
 New York, August 7-Money on call, 31aGl4 per cent; last loan, SA per cent.
 Prime mercantile paper, 4@43s per cent.
 Sterling exchange heavy, with actual business in bankers bills at S4.S57sQ4.S6 for demand and at s4S2asG$4.S21a for sixty days.
 Posted rates, S4S312d4.& and S4.S7@4.S71A. Commercial bills, $4S115@4S21a.
 Silver certificates 60AQ61.
 Bar silver, GOA.
 Mexican dollars, AS cents.
 Government bonds firm
 State bonds inactive.
 Railroad bonds heavy.
 By Private Wire to Talbott x Palmer.