The age-herald., 1899-08-30
BEARS IN CONTROL
 OF STOCK MARKET Persistent Heaviness in Railroads Discouraged the Bulls. TIME MONEY WAS FlRMtR Bonds Rather Quiet With Price Changes Irregular and Total Sales at Par
 Value of $1,4so,ooo-Gov-
 ernments Unchanged
TIME MONEY WAS FlRMtR

New York, August 29.-Prices in many prominent railroad stocks show losses of $1 per share and upawrds as result of the days trading. There was a disposition in the early hours of the day to contest the decline and the effort was assisted by sev- eral strong features in the list But the persistent heeviness of railroad stocks and the manifest exhaustion of the buying de- mand discouraged the bulls and turned the scale in favor of the bears. Stocks in which manipulation by pools has been recently evident, showed a conspicuous lack of support. Conspicuous in this class was Louisville and Nashville Northern Pacific Atchison preferred and Baltimore and Ohio and Western Union. Several of the minor stocks which have been under recent manipulation also suffered severely
 Some opposition to the early heaviness resulted from the active demand. Republic steel stocks on the strength of yesterdays declaration of dividend on the preferred stock and semi official intmates of very large earning available for the common The common advanced at one time 219 and the. preferred per cent. Steel and wire was also marked up on predictions that the listing committee of the stock exchange were disposed to admit to the listed de- partment. These two factors imparted firmneSS to the iron and steel group with the exception of Tennessee Coal and Colo rado Fuel. In the railroad list the Chicago Great Western stock showed continued strength, the preferred "B' rising points. There was demand for Kansas and Texas preferred and gains shown by Wheeling and Lake Erie and Hooking Val ley In the local traction stocks Brooklyn Transit was lifted quite progressively and Metropolitan Street Railway and Manhat- tan showed sympathy. There came cov- eCing movement in tobacco and a sharp fall and sugar showed strength from the same cause.
 But these clements of strength were quite insufficient to induce a renewal of buyers in the list on any large scale and prices continued to drift away under dribbling offerings. The declaration of 2 per cent semi-annual dividend on Union Pacific preferred stiffened that stock and caused a momentary check to the down. ward movement but the bears perceiYing the continued heavineSS, they attacked the market in the late dealings, making the closing active and weak at about the lowest. The few earlier gains were mostly wiped out, those remaining being largely reduced The weakness on foreign stock markets on account of the acutenesS of the TranSvaal crisis was an influential factor in the days weakness. London's sales here were estimated at 5000 shares, covering the entire list of international stock.
 The fall of fraction in the actual rates for sterling exchange in face of this liqui- dalton from London caused some renewed Hneasiness over the local money situation, Of which was a reflection. Rates for time money were appreciable firmer and no call loans were made below per cent.
 The bond market was rather quiet, the price changes were irregular Total sales par value, $1, ,4Se000 United States govern ment bonds were unchanged, bid quota tions.
 New York, August 29.-Money on call steady at per cent.
 Primo mercantile paper, 4h1o per cent.
 Sterling exchange easier, with actual bus mess in bankers bills at $4.S6A 6i4 S61a for demand and at A83A Ql4S3h for sixty days
 Posted rates, Si.S4Gs4.S7
 Commercial bills, $4Szi2.
 Silver certificates, 59A@G0c.
 Bar silver 5S1zc.
 Mexican dollars, f77sc.
 Government bonds steady.
 State bonds firm.
 Railroad onds irregular.