The age-herald., 1899-03-12
There Was a Fractional Loss
 Over Fridays Close.
REVIEW OF THE PAST WEEK
Speculation Was Largely of a Profes' sional Character, With Sales Short Million Less Than the
 Preceding Week.

NeW 1OIhp VhdlSH &oON'tiShS va ~0 stock exchange left off fractionally above yesterdays close and near to the highest. Trading at the outset was of hestitating character, showing disposition to follow any move in the specialties.
 This was indicated by rise in sugar, the improvement in this stock cancelling the earlier decline The general market moved sympathetically, but very narrowly. Sub- sequently there was raid on Metropolitan Street Railway which dropped points. This incident stimulated short sales on the other stocks with concessions quite material in Manhattan, Brooklyn Transit, Sugar and Bay State Gas. The latter was particularly influenced by the action of the Boston ex- change authorities in discontinuing trading in the stock. This action was subsequently, taken by the governors at the local ex- change. The railway shares moved very sluggishly and attempts to improve them were retarded by the heaviness of the Union Pacific issues in which foreign sell ing was quite pronounced
 Various pessimistic expressions as to the probable character of the bank statement which had been rife during the week were partially eradicated when the statement was published. The salient feature of 1t was contraction in surplus reserve or only s1,375,125.. The loan account showed a reduction O1 over AdSn UeCTedS0u $4,413 900 which reflected sub-treasury opera tions in connection with the Central Pacific settlement. The settlement was received with considerable favor in the street and induced active buying, raising the general level of prices above last night. The clos ing was strong and active.
 The stock speculation for the week was largely of a professional character, with sales about million less than those of the previous week, while stocks showing ad- vances were more numerous than those figuring for declines Gains registered in the railways were in obscure properties. the general run of active shares, particu- larly the Changers and Pacifcs closing ground. Owing to the unusual prominence and support extended to the specialties during the week, many of these properties show handsome gainS.. A furry in the call money market in which quotations for time reached AZ was largely due to the financing of the Central Pacific settlement with the government the Chicago and AL ton deal and various industrial combina- tions. The money to pay the Cuban troops had effect on the money market as 1t was withdrawn from the sub-treasury. A large amount of country bank balances reached New York because of the firmness of money rates and there were arrivals of round amounts of gold from the Pacific coast and money gradually eased off from its high level. While money was in par tiCuldF ueIldHu, there appeared reHeX easing in sterling exchange which gained strength as money became easier
 Third Avenue became strong on the belief that threatened hostile legislation was less likely. Metropolitan retained net gain of 1S on expected favorable developments. Brooklyn Transit was strong on the reports that It was to absorb Long Island railway, and the latter advanced points, Much interest attached to the declaration of the regular quarterly dividend on Sugar, and the stock was strong in consequence Some speculative interests professed disappoint- ment at St. Paul's declaration of only the regular dividend and because the last divi- dend of 11a per cent on Union Pacific pre- ferred was not increased. These incidents, while they were not different from what had been expected in some quarters, had depressing influence on a number of rail- ways. Continued reports of progress in the so-called anthracite deal were given color by the strength displayed for the most part of the week in these properties, Lacka- wanna retaining points of an extreme rise of g points, At one time the political ten- sion in Europe over the adjustment of the questions arising in China had an unfavor- able influence sentimentally, but Subse- quent advices were that the matter in dis pute had been amicably adjusted at least for the present. The increase in expenses incurred by the railways during the Feb ruary storms were expected to reduce the net ShoWlnSS TOT the month, III Wnlcn gross earnings showed a slight falling off, except in the case of the granger roads, This interpretation of the railway show ings had a depressing influence. The con- tinued good demand for iron products was an example of the encouraging trade ad- vices in many other industries.
 The bond market followed the tendency of stock prices pretty closely, which caused considerable irregularity in the dealings The market again as a whole showed very substantial undertone, and some strik- ing gains were recorded in issues which do not usually assume much prominence in the trading, particularly the Missouri Pa- ciflc mortgages. Special influences were not instrumental in effecting wide changes in numerous cases.
 United States old Is regular declined F, the new As %, the 5's and the old As cou- pon Ii, and the 3s IS in the bid price.
 Total sales of stocks today 315, 400 shares, including 11575 Atchison preferred 5O00 Central Pacific; 4,725 Manhattan; 9,750 Reading first preferred; TYPO Ontaria and Western; 3.S3o Union Pacific; O055 St. Paul; Is, 6,6S0 American Steel and Wire 6,600 American Tobacco; 57,640 Bay State Gas; 1o,e6O Brooklyn Transit; 24,240 Sugar; S600 Tennessee Coal and Iron. (By Private Wire to Paine, Murphy & Co.)