The age-herald., 1899-10-10
LITTLE CHANGE
 IT STOCK MARKET Slight Drag Apparent After the
 Opening.
NO DEMAND FOR SECURITIES
Saturdays New York Statement Shows Over Half of. the Clearing. House Members Still Below the
 Legal R serve Limit

New York October 9.-Buying of arbi- trage houses for local account made the highest prices of the day in the general list at the opening. As soon as that demand was satisfied the market began to drag. There was some support when prices of iron and steel stocks were bid up, but the fact was obvious that there was no vital demand for securities and the downward drift was renewed. By the close of the day the gains were wiped out except in a few cases. Steel and Wire was an exception and rose points on reports of new prop critics acquired, most of the gain being re- tained. Sugar and Tobacco enjoyed their period of strength, but both closed at net losses. There was some large buying of United States Leather, but its gain was not maintained Omaha, preferred which last sold at 1855 was offered at 1S3 and from that down to TIC without takers. St. Paul, preferred, sold early at III, and later at 169 The bond market also was rather weaker than has been expected, refecting the high prevailing rate for money. The situation in the money market showed very little change, loans being made as high as 19 points, and as low per cent. The majority of loans were made from to 10 per cent Gold shipped from Europe is now in New York vaults and no more is to be expected for the present from that source. It was reported that the treasury depart ment had decided to anticipate the Noyem- Der payment of interest as was done last year, but no announcement of such decision came from Washington.
 The detailed statement of New York on Saturday showed more than half of the members of the clearing house are still be- low the level reserve limit, and the neces- sary consequence was a further calling or loans. Banks in the west and even in Canada are reported to be placing call loans on the stock exchange. The ealing of loans by New York banks which is thus made necessary rushes up the call loan rate in New York and the western banks are get ting the advantage of the higher rate Tor their surplus funds which are placed Tn Wall street. Wall street is expected to be relieved early in the day from the usual pressure for crop moving money, on ac- count of the large reserves in western banks. But the latter have found more profitable method of conducting operations. Sterling exchange eased off in sympathy at Paris and Berlin, but held stiff in New York for demand bills and cables. The bond market was dull and weak. Total sales par value $1 1,5l0,000. United States bonds were unchanged in bid quotations.
 New York, October 9.-Money on call easier at 6@19 per cent; last loan at per cent.
 Prime mercantile paper, 51k@6 per cent.
 Sterling exchange firm, with actual busi- ness in bankers bills at $4.S61s for demand and S4.S1AG4S2 for sixty days.
 Posted rates, $4.S2h@4SS and $4.S61A@4.S7.
 Commercial bills, $4.80Q4S0R.
 Silver certificates, 5Sq59.
 Bar silver, 5S1sc.
 Mexican dollars, 47c
 Government bonds steady.
 State bonds inactive.
 Railroad bonds weak.
 0Rv Private Wire to Talbott & Palmer.)