The age-herald., 1899-01-25
In Wall Street.

New York, January 24.-EnormOuS real izing and short sales today materially af- fected the quoted prices of stocks. The dealings were in excess of million and third of shares, and at no time did prices of the higher valued railroads reach yes- terday's closing figures Heavy sales in the early dealings were caused partly by the lower range of London quotations and there were numerous declines exceeding point. A sharp upward movement followed, sup port being extended to Michigan Central, Union Pacific preferred, General Electric, Peoples Gas, Manhattan, Missouri Pacific, New Jersey Central, Tennessee Coal and Iron and Federal Steel common were also lifted The trading element began to sell freely as the effect of heavy profit-taking was appreciated. The market at first be- came dull as prices receded, but the selling gradually assumed larger volume and quo- tations rapidly crumbled away, eventually weakening practically all stocks traded in. In the absence of unfavorable news, the re- action was attributed to technical condi- tions. By reaching stop-loss orders in the more active shares material slumps occur red in prices, with much a point or more difference in quotations between transactions. Money continued easy, and the banks were expected to make another heavy gain in cash this week. The move ment of money from the interior and from California continues heavily in favor of 4>CW IOIh l lie lOW0SL pTlCe or the Qay was made in the final hour, and selling at that time wiped out the gains in stocks made earlier in the day.
 The extreme breaks in the Vanderbilts ranged up to 41a in Northwest. In the Flower specialties the largest break was in New York Air Brake, points. The drop in the grangers ranged from 2 points in Rock Island to 3A in Burlington Among the coalers the slump ranged up to 41s in Reading first preferred. In the Pacifcs the extreme drop was 4 points in Union Pacific preferred. Pennsylvania dipped 3s4, Manhattan and Metropolitan PA each, Cleveland, Columbus, Cincinnati and St. Louis 2, Tennessee Coal and Iron ?, Amer fcan Malt 3, and General Electric 2H. New York, Ontario and Western, the most ac- tive stock on the list in the days trading dropped 2h points. It was estimated that London at one time had sold 750O0 shares, a portion of which was taken back on ar bitrage dealings later in the day. The reslstence the market displayed in the fore noon, notwithstanding the heavy assaults made upon it by the traders, was explained by the fact that during the progress of the raids several prominent interests were large purchasers. They professed to see no change in the situa tion pointing out that there was no danger in sight of a scarcity of money and that the market was likely to receive support by the purchases made in the interest of institutions and individuals Wno nad large supplies of funds seeking employment A number of wagers were settled today when Missouri Pacific on div idend rumors crossed Northern Pacific, common. in the forenoon trading A feat ure of the market was the resumption of activity in the middle class and low-priced stocks.
 The bond market displayed early strength but later yielded in sympathy with the action ip the stock market Total sales S9,260,0 900. United States 3s and the old 4s coupon declined b in the bid price.
 Total sales of stocks today were 1882 ,040 shares, including 2,25O Atchison: 1O1 ,S2O do preferred; 1S5A Burlington; 1000 Illinois Central; IT, 400 Louisville and Nashville; 93,- G25 Missouri Pacific; 1S,S10 Union Pacific; S.100 St. Paul; 4.500 Southern Railway; g. $50 Southern preferred; 62 ,51O Union Pacific preferred; 42.52O Tobacco; T,2lO Steel: 1O1,- S20 Peoples Gas; 17.S61 Sugar: 34,440 Ten nessee Coal and Iron; ,75S Western Union.
 Money on call steady at 2A@3 per cent; last loan, 2k.
 Prime mercantile paper, 2a03A per cent.
 Sterling exchange weak with actual busi- ness in bankers bills at $4. .S41a@4 S4A for de- mand. and at s4S2k6o4 SPA for sixty days.
 Posted rates, $4.Ss1ad4.s51A.
 Commercial bills, 4.S0.
 Silver certificates, 591a6601a.
 Bar silver, 59%.
 Mexican dollars, 471A
 Government bonds, weak
 State bonds, strong.
 Railroad bonds, weak.