The age-herald., 1899-02-08
LONDON WAS 4
 LARGE PURCHASER Bought 25,OOO Shares on News
 of Ratification.
WAS NET LOSS ON THE DAY
Prices Receded Rapidly. and in Some Instances Were at Mondays Clos
 ing-M Market Became Fee. b1e and Semi i-Stagnant.

New York, February 7.@Stoek prices re- ceded today with an average fosssofs1 to 2 points. which was exceeded in a number of instances.
 The ratification of the peace treaty by the senate induced purchases from London Of about 20 600 shares. There was less enthusi- asm, locally and after an initial rise from fractions to point and over in many eases traders were free sellers in anticipation of a reaction. When It became evident that prices were not holding, commission houses were free sellers. Prices receded rapidly in some Instances and were presently at prac- tically last nights closing,
 The purchases for London account which were partly due to anticipating the fort nightly settlements, together with cover- ing by shorts rallied the market Washing ton houses were large purchasers, while Chicago houses sold. The market became feeble and semi-stagnant.
 New York Central displayed strength its gross earnings for January, which in- creased S227 900. The constant hammerius by bear traders forced many stocks to a point where liquidation was induced, whicn made the lowest prices. There was talk that most of the selling was in the interest of bear clique, said to have been formed yesterday The fact that the room traders acted often in unison was the only support found for the story. From the highest there were reactions of from to points.
 Among the weakest features were General Electric, Tobacco, Sugar, Metropolitan, Manhattan, Great Northern preferred, Pennsylvania, the Pacifics, the Grangers, .-.e Readings and some minor industrials. The pressure against stock was mostly pro- fessional, and there no unfayorable de- velopment in the news that attracted atten- ton. Money continued in abundant supply, and according to arbitrage houses recent London sales seemed to have been settled for, and the purchases for abroad today leave balances due the local arbitrage houses by London.
 Considerable weakness was manifest in certain quarters of the bond market but prices generany were lower in sympathy with stock. Total sales, s, 100000.
 United States new Is declined Is in the bid price.
 Total sales of stocks today were 717,S00 shares, including 44 $50 AtchiSon preferred; 17,300 Chesapeake and Ohio; 2,S90 Burling-. ton; Il 995 Louisville and Nashville; 19,O60 Reading preferred; 23,SSO New York Cen tral; 13,115 Union Pacific; 26,610 St. Paul; 8225 Southern Pacific; 17.620 Southern Rail- way preferred; 5000 Texas and Pacific; N,- 220 Union Pacific preferred ,12O Steel; 12,- 6S0 Peoples Cas- 7,64O Consolidated Gas; 26,553 Sugar; 8,SS0 Tennessee Coal and Iron; 63,130 St. Paul and Southwestern preferred.
 Money on call steady, at 21s per cent.
 Prime mercantile paper 2%@13A per cent.
 Sterling exchange steady, with actual business in bankers bills at $4S5AM$4S512 for demand, and at $4.sSAQS4. S31s for sixty days.
 Posted rates, $4S4l$4S41s and $4.S6@si.S61s. Commercial bills, s4S219G$4.S3.
 Silver certificates nominal, 591aQ60a.
 Bar silver, 593s.
 Mexican dollars, AIS
 Government bonds, irregular. State bonds strong.
 Railroad bonds weak.