The age-herald., 1899-05-27
PRICES OF STOCKS
 CONTINUED UPWARD
At the Opening of Yesterdays
 Market.
BULLS WERE NOT PREPARED
Bonds Were Relatively More Active, Number of New High Priced Re- cords Being Made-Total
 Sales Were $4,362,Ooo

New York, May 26.-The stock market opened with a continuance of the upward movement which was in force yesterday Yesterdays sharp advance brought in q moderate volume of buying orders to the commission houses, which were put in at the opening. There seems to have been also considerable enthusiasm awakened in the American department of the London market by the same cause. The interna- tonal stocks were bid up there before the opening here and the arbitration brokers promptly bid them up to a parity here.
 IL soon became apparent, however. that the bull party were no more prepared to make extensive commitments on the eve of holiday than the bears and the activity soon came to a standstill. The feyerisn and cratic tendency of Consolidated Gas helped te unsettle the markets. Its sud- den drop was supposed by outsiders to in- dicate some new possibility in the franchise tax law and other stocks In the same group fell away in sympathy.
 When the announcement was made of the action of the gas directors in reducing the quarterly dividend rate from 2 per cent to 1lA per sent there was some recovery in the stocks of other New York municipal corporations. As a rule, the prominent hgh-prieed specialties were weak. Sugar was a conspicuous sufferer on account of the Heduction in the price of Cuban sugar which presaged another stage Of a war of sugar producers and effectually demolished the recently current reports of an agree ment Rpon which the stock had advanced. Ths extreme decline in gas was 10 points end h closed only A above that
 Sugar lest points but rallied and closed with net loss of 3A. Both Ameri- can and Continental Tobacco, American Steel and Wire, Anaconda and American Smelling were points of weakness. Man haitian, Brooklyn Transit and Metropoli- tan Street Railway recovered large part of tAeir losses
 When the selling movement had spent its force in the afternoon under heavy buying orders appeared for Atchison, preferred and St. Paul which wiped out for the most part the few slightly with the final break in the specialtfes, but many railroads show fractional gains on the day. It was eX- pected that the demand for loans, which are made today to carry over to Wednes- day would stiffen the money market, but no disturbance was perceptble there. Ster- ling exchange maintained its easy tone under the influence of London buying of stocks in spite of the demand for trans mission by Saturdays outgoing steamers.
 The market for bonds continued relative ly mere active and stronger than that for stocks. number of new high record prices being made. Prices yielded at some points in the list with break in stocks and made the days changes mixed. Total sales par value, $4 ,962, 900. United States 3s registered advanced 1s and the old 4s coupon in the Did price, while the 3s coupon and the 5s declined A.
 A6ney on call. at 012 last loan, 2a per cent.
 Prime mercantile paper, 3k94H per cent
 Sterling exchange, steady, with actual business in bankers bills, at $4.S7ai for de- mand. and $4.S5Am4S515 for sixty days.
 Posted rates, $4.S61s and S4.SS1a
 Commercial bills, $4S5
 Silver certificates, 61Q62c; bar silver, Gle; Mexican dollars, 4SHc.
 Government bonds, irregular; state bonds, inactive; railrorad bonds, irregular Q3y Private Wire to Paine, Murphy & Co.)