The age-herald., 1899-08-12
SOME ACTIVITY IN
 STOCK MARKET Strength Exhausted Before End
 of First Hour. IRON, STEEL AND LEATHER Outside Banks Are Drawing on New York's Money Supply to Place Loans Total Sale of Bonds
 Were $1,oe3ooo
IRON, STEEL AND LEATHER

New York, August 1.-The stock market made some show of activity and strength in the early dealings today. but the move- ment had about exhausted itself before the end of the first hour, the heavy tone in many railroad stocks affecting the indus trial specialties, which had started to go up and realizing set in which helped the bears. The market refused to go up again and drifted quite aimlessly for the rest of the day, the volume of business falling to the lowest ebb.
 The stocks which made the early activity were the iron and steel and leather stocks. Some of the former group had quite hand some net gains remaining at the close of the day, Federal Steel and Colorado Fuel being the only ones in the group to show net losses. Tennessee Coal was still fore most in the movement and touched S31A, but failed to make its net gain whole point There was a tremendous scramble to take on United States Leather and the price touched 1Oss. Practically the whole of its gain was wiped out in a realizing move- ment, and the preferred stock closed below last night There was a midday demand for Mexican Central and Mexican National,
  Detroit Gas and Union Bag and Paper. both common and preferred, showed sharp gains. There were few strong spots In the railroad list, notably Chicago Great Western debentures, which are up 1al and Missouri, Kansas and Texas, both common and preferred.
 The condition of spring wheat shown by the government report had some influence. Much was made of a report that a rate from New York to Kansas City had been made on freight by way of the Grand Trunk and Chicago, Burlington and Quincy to meet the rate by way of the gulf and southwestern lines. Some anxiety was felt lest this might presage a war of rates calculated to have a very unfaVorable ef- feet on earnings
 There grew up the fear during the day that tomorrow's bank statement might now prove the encouraging exhibit which had been predicted for 1t during the week. It is believed some money has come to New York from out-of-town banks to be placed in loans, but in other cases un- side banks have drawn their deposits in New York banks to place loans. It is stated that New York banks will be shown to have reduced their call loans. Call loans were about steady today, and the decline to 2ls per cent. in the late dealings was of little significance as it occurred after most of the demand had been satisfied.
 Movements in bonds were sluggish and irregular, and business was not large. To- tai sales par value $1O93. .OOOO. United States new As advanced 4 in the bid price.
 
 Money on call steady. 2h931z per cent; last loan, 21s.
 Prime mercantile paper 41s6p5 per cent. Sterling exchange, steady, with actual business in bankers bills $4.S5@$4.S5A for demand and $4.S21sQ$4.S2A for sixty days. Posted rates, si.S31a and $4.S7QS4S7l. Commercial bills, &S1a.
 Silver certificates 60k1b61.
 Bar silver, CO.'S.
 Mexican dollars, AS.
 Government bonds firm.
 State bonds inactive.
 Railroad bonds irregular.
 By Private Wire to Talbott 6 Palmer.