The age-herald., 1899-07-08
LOWER PRICES IN
 STOCK MARKET
Although They Went Up Later
 During Session.
FEARS OF LONDON MONEY
Early Period Devoted to Extensive Ii quidation-Railroads Bonds Were Only Moderately Aotive-To-
 tai Sales $3, 1885, ,Ooo

New York July 7.-Sentiment on the stock exchange favored lower prices during the greater part of today's session, but the feel ing changed in the late dealings, and prices were brought we'll about to yesterdays lev el before the close. The late strength origi- mated in the southwestern group of rail- roads. Texas and Pacific was tho first of these to advance, but the largest buying, as well as the greatest gain in price, was in St. Louis Southwestern preferred, which rose points on the publication of the May statement of net earnings, showing sur plus over expenses of $S6,4SS, compared with $7,255 last year. Missouri Pacific, Kansas and Texas preferred, Wabash preferred, Texas and Pacific and St. Louis South western preferred all rose between 1 and ? points, and aroused active buying move ment in other portions of the list. It was notable, however, that some of the stocks which have enjoyed the largest share of attention recently fell into comparative neglect when interest began to be manifest ed in the Southwesterns. The Changers, however, after the mornings declines, av- erased point higher, and bid up we'll above last nights close in the late dealings. Good weather in the northwest and weak ness in the wheat market and Bradstreet's decrease of 3,5O0000 bushels in European wheat stocks were the motives for the buy ing of the Grangers
 Part of this buying was said to be to cover shorts put out yesterday Atchison preferred led the late market in point of activity and strength, rising 21a points above the early low point. Manhattan showed independent strength before the market gpnpralIu had stock rose within a shade of 122, but reacted about point. The upward movement in Pennsylvania and New York Central at the opening on & published report of plan to consolidate, did not hold the general mar ket, though these two individual stocks maintained the advance in price pretty well. Practically the maximum gain for them was established in London before the opening here. Pennsylvania was held at 13S only momentarily, and ruled not far from 137 all day. The early period of the market was given over to continued liqui- dation. The industrial specialties and local traction stocks were notably weak. The late strength of the Southwesterns were shaded by Chicago, Cincinnati and Cleve- land, Cincinnati Cleveland and St. Louis Tennessee Coal and Iron and Colorado Fuel. The growing ease of the money market helped on the late recovery in values. The fears of dearer money in Lon don gave way under the advance of the continental exchanges in London. The call rate dropped from to per cent. in Lon don; actual rates for sterling exchange fell A to bc in New York and call money was offered down to per cent. in New York.
 Railroad bonds were only moderately ac- tive and showed mixed changes. Total sales par value, ~$3, ,3S5 ,OOO. United States new As advanced A in the bid price,
 New York; July 7.-Money on call steady at 415@5h per cent; last loan at Az per cent.
 Prime mercantile paper. 3AG4 per cent.
 Sterling exchange weak, with actual bus . mess in bankers bills at s4.S@d.S7A for demand and at s4S4A@4.S5 for sixty days. tts ossted rates. s4.S6@4s65s and $4SSH. -~ veedlmercial bills. $4.S5.
 Silver certificates, 60961c.
 Bar silver, 60asc.
 Mexican dollars, 47%.
 GovernRrs4 bonds strong.
 State bonds inactive.
 Railroad bonds irregular.