The age-herald., 1899-12-08
STAGNATION IN
 STOCK MARKET Little Change from the Previous
 Day. SOME STRENGTH AT START Iron and Steel Stocks Were Quite Con- spicuous in the Opening, But This Only Served to Make
 Them Vulnerable
SOME STRENGTH AT START

New York November 7.-Dealngs on the stock exchange approached a condition of stagnation several times today at intervals between periods of spasmodlc activity. The day was almost an exact repetition of yes- terday, with periods of strength at the opening and near the close, and an interval Of acute weakness in some stocks.
 The early strength was largely due to the cheerful view of American securities taken by London operators, who bought quite largely in this market. Rather pos itive evidence of strength in Union Pacific helped on the late rally.
 The iron and steel stocks were quite con spicuous in the early strength, probably on account of covering operations by bears who sold them yesterday, but this only served to make them more vulnerable to attack and their subsequent relapse was quite violent. The same was true of the anthracite group, which advanced sharply then developed acute weakness, New Jer- sey Central leading with fall of 3 points.
 The tobacco stocks were the severest sufferers on reports of projected opposition in the trade by interests which have been raised from the present companies. Amer ican Tobacco and Continental Tobacco dropped and PA respectively. Sugar and Brooklyn Transit We're conspicuous in the dealings as was the case yesterday. The former stock vibrated widely above and below yesterdays level and closed with a small net gain. he unsettled state of in- dustrial securities, which seemed to be due to fears of hostile legislation, seemed to nave only slight effect on railroads and when pressure relaxed against the indus trials. there was not much dfficu ulty in bidding up prices of railroad shares.
 Northwestern rose i312, Omaha 2, Union Pacific 1as As a consequence the list shows a fair mixture of net gains
 qne condition or the money market help ed to discourage any new speculative com mitments. A weak bank return is counted upon as certainty on Saturday, owing to the heavy drain by the sub-treasury. The advance in the Bank of France official rate Was an incident in the interna tional competition for funds, and whle no direct effects were perceptble, the action is sig nihcant of the general apprehension over the immediate future of the money mar ket. Notwithstanding the general rally In stocks, the close was irregular with some of the industrials showing renewed pressure.
 Bond were not active and were inclined to be easier in sympathy with the break in stocks. Total sales, par value, s1 265 ooo United States 2s advanced A and new As, old As and 5s 1s in the bid price,
 New York, December 7.-Money on call hrm, at 5Q7 per cent. last loan, 6; ruling rate, '.
 Prime mercantile paper, 5A@6 per cent
 Sterling exchange steady, with actual business in bankers bills at $4S61s1s4 S6% for demand, and s4.S11a@s4S1A for sixty days
 Posted rates, s4S21a@s4S7k
 Commercial bills, $4.S0a4.
 Silver certificates, 5SB@60.
 Bar silver, 59.
 Mexican dollars, 47k
 Government bonds strong
 State bonds inactive.
 Railroad bonds easier