The age-herald., 1899-08-04
STOCK MARKET
 PROFESSIONAL Strength Was Confined to Few
 SpeCialtieS. SHORTS EFFORT TO COVER Rumor in Wall Street That Slump Had Occurred in Pig Iron Prices
 Total Sales of Bonds
 $1,7o5,ooo
SHORTS EFFORT TO COVER

New York August 3.-Today's stock mar ket was professional almost entirely, and was dull except in one or two spots. Symp- toms of strength were confned to a lew of the specialties, notably Tobacco, which made up large proportion of the days to- tai transactions. The government in this stock was attributed to manipulation di- rected against the shorts, whose efforts to cover helped the advance. Sympathetic strength was shown by Continental Tobac- co. Tennessee Coal continued its remarka- ble show of strength, and closed at the highest price at a net gain of 2h points. Otherwise the iron and steel stocks were inclined to depression. Wall street had a rumor that there had been slump today in pig iron prices abroad, but this could not be verified. There have been recent pur- chases of steel abroad. but these were sim ply the result of great scarcity and large demand in this country. Dispatches report ed a threatened plague. of grasshoppers in the western states, and were used with ef- feet to depress the Changers stocks. The Trunk lines also were heavy.
 The recent buying by London in this mar ket came to a stop owing to the decision of the London exchange to close from Fri day until Tuesday over the bank holiday on Monday.
 The bears made successful attack on Brooklyn Transit Peoples Gas and ROCK Island early in the day, thus increasing the tendency to reaction. The market had it's period of strength sustained by the move- ment in tobacco, firmness in sugar, strength in rubber and general electric, and a few of the railroad stocks. The strength was not maintained and the iso- lated railroad stocks, such as St. Louis Southeastern, and some of the southern stocks, which showed small net gains were so nearly inactive as to have little effect on the general list. The undertone of the mar ket was heavy until the close, notwith- standing a sudden marking of Brooklyn Transit. The retention by the Bank of England of it's existing rate of discount in- stead of an advance failed to have a re- assuring effect.
 The private rate of discount in London advanced a fraction above the bank rate. Sterling exchange in New York resumed its downward course, notwithstanding the advance in the London private rate, and the announcement of a shipment from Au Btralia to San Francisco of $1, ,206,675 in gold. In Paris rentes the tendency was down. ward again. These incidents are accepted Rs admonitions that if exchange here falls to the gold import point, London and the continent will sell securities rather than part with gold. The decline in the focal money market was after most of the days business was over, and was without sig nificance.
 Kansas City, Pittsburg and Cuffs con- tnued in demand today and gained # per cent. net Otherwise the bond market was dull and rather irregular. Total sales par value, s1 ,705,000.
 United States bonds were unchanged on bid quotations
 New York, August 3.-Money on call steady at SQ4 per cent; last loan, per cent.
 Prime mercantile paper, 46l4% per cent
 Sterling exchange heavy with actuai business in bankers bills at $4S614a4. .s61h for demand and at siS2%@4SS for sixty days.
 Posted rates, s4.Sid4s4h and s4S51k@4. .SS.
 Commercial bills. $4.S2A.
 Silver certificates, 60lh6l61
 Bar silver. G0A.
 Mexican dollars 4S
 Government bonds, steady.
 State bonds, inactive.
 Railroad bonds, irregular
 By Private Wire to Talbott & Palmer.