The age-herald., 1899-06-23
DOWNWARD PRICES
 IN STOCK MARKET
Appearance of Extreme Weak
 ness at One Time.
BEARS HELD UPPER HAND
Few Yielding Spots in Bonds Though Generally Firm on Moderate Vol ume ofBusiness-Total Sales
 Par Value, $l,e25,ooo

New York, June 22-The bears secured the upper hand in the trading today and accomplished a downward range of prices, which gave the appearance of extreme weakness to the market at one time dur ing the day.
 But what with the initial rise in prices and the rally on covering after the drop, net changes are small in the majority of cases. The market opened with an up- ward movement and with more show of animation in the buying than has been the case for some time past. The foreign stock markets reflected a much more cheerful frame of mind over the political outlook in France and there was a cessation of the selling pressure from that source, which has been a feature of several days of this week. The railroad stocks, espe- cially the grangers, moved upward smarty and. very conspicuous gains were shown by a number of the Vanderbilt stocks, New York Central, Northwestern and St. Paul and Omaha rising from 1h to points. Pittsburg, Cincinnati, Chicago and St. Louis also recovered points after yes terdays drop.
 There was good buying of some of the leading specialties, Tobacco stocks rallying brisky from yesterdays extreme weakness and Sugar and Brooklyn Transit being well taken With the exception or the drop in American Spirits and Standard distributing on the announced combination in that trade, there was apparently no weak spot In the market, and it looked as though the bears had exhausted their resources and abandoned their campaign. But very marked weakness soon developed in Fed eral Steel and quickly involved other Flow CT stock, notably Brooklyn Transit and Peoples Gas, well as Sugar. Metropoli- tan Street Railway, Tennessee Coal, Rub ber Consolidated Cas- Reading first pre- ferred and other specialties.
 Extreme declines were: In Sugar, A; Federal Steel SIS; Brooklyn Transit and Consolidated Gas, 2A. The Vanderbilts, the Tobacco stocks and many other rail- roads held pretty firm, but the grangers yielded a point or over though their de- clines on the day are only fraction.
 There was considerable activity on the decline and more appearance of liquidation by tired holders than has been apparent before this week.
 The late selling movement was based on apprehensions expressed by the bears of very heavy exports of gold on Saturday, some of the estimates ranging as high as $10 900 000 though the only announcement the engagement of $2,O0O,0OO. As matter of fact the rate for sterling eased off Ac for sight bills, the rate for money in London showed an easier tendency and the relaxation of the strained political situa- tion in France relieved apprehension of a drain upon this countrys gold reserve.
 The Bank of England has increased its gold reserve over $2,300,0O0 during the week and contracted its loans over $2 600 900, while the Bank of France has added to its gold stock over $500 900 and has contracted it's loans, $614O000, in the same time. The mar ket closed firm at the rally caused by cov- ering of shorts.
 There were one or two yielding spots in the bond market, but prices were generally firm on moderate volume of business. Total sales, par value, $1,925, 900.
 United States new 4s and old 4s coupon declined 14 and the 3s registered Is in the bid price.
 New York, June 22.-rhe sales of stocks today were 3S4 ,00O shares, including: Ameri- can Steel, 27 400; American Sugar, 4S60O; Atchison preferred, 9,300; Brooklyn Rapid Transit, A 100; Burlington, 11,700; Conti mental Tobacco, p, 100; Federal Steel, 3l 900; Manhattan. 7,500: Northern Pacific, 9C00; Peoples Gas, S50O Reading first prefer red, 1OS0O; St. Paul, Il 300; American Spir- it's 1000; New York Central 6.S0O; Ten nessee Coal and Iron, 12,100; United States Rubber, 2,S0O.
 NeW 1OThi June E1.-hOuey OH Cdll steady at 2d21a per cent; last loan at 2 per cent.
 Prime mercantile paper, 3G3A per cent
 Sterling exchange easier, with actual bus mess in bankers bills at AS7S4614.SS for de- mand and at $4.S53s@i4.S6 for sixty days.
 Posted rates $4S6laQ4.S7 and $i.S9.
 Commercial bills, $4.S5@4S51a. Silver certificates, 60R462.
 Bar silver, 605s.
 Mexican dollars, 4Sh.
 Government bonds, weak.
 State bonds, inactive.
 Railroad bonds, firm
 STOCKS