The age-herald., 1899-05-12
SMART DECLINES
 IN SPECIALYIES Natural Reaction From WedneS-
 days Spurt. STERLING EXCHANGE HIGHER Bears Made Much of Decrease in Acre. age to Depress Grangers Recess sions Were Noted In Iron
 and Steel Stocks.
STERLING EXCHANGE HIGHER

New York May 11.-Tere were smart de- clines in the specialties today, but the re- sessions in the railways were fractional. It was holiday on the continent, and the death of an English banker restricted some of the arbitrage business, but London took about 30 ,OO0 shares of the international stocks.
 Sterling exchange was easier and money ranged from to 4 on call, with the last loan at the smaller figure. One reason TOT this is that fairly large volume of money is moving toward New York from the ln- terior. The crop report was at nrst in- terpreted as more favorable than ex- pected, but subsequently, the bears used the decrease in acreage" to depress the Changers stocks, which had earlier dis played considerable strength. Burlingtons net loss of over point was the largest in this group.
 The understanding that the Ford fran chise tax bill would become law was again used against local shares. the trac- ton shares showing net losses ranging from to points, the maximum loss being in Metropolitan, in which it was said part of heavy line of shares had been liqui- dated. The veto by the mayor of the Rap i'd Transit bill failed to sustain Mammalian. Covering left those stocks above the worst and other shares sympathetically rallied slightly in the latter in the afternoon.
 The market closed steady. Reeessions were noted in iron and steel stocks. The reaction was deemed natural by some in- terests in view of the violent recovery yes terday, which cancelled a large part of the reputed short interests and speculation lacked any decided vim, and there were ma DpriOdS of staPnannV.- which were dissipated at intervals when sales were made. Realizations furnish the chief i'm petus to the retrogade movement and the occasional bursts of strength were largely attributable to covering by the traders at a favorable level American Tobacco was dealt in at dividend, the stock dividend of 100 per cent, and closed at 1021s, as compared with PIP, last nights final fig ures.
 Todays bond market showed frmness on moderate dealings. Total sales, s2,70O,O 900.
 United States new As registered advanced II and the 5s and 3s 1s in the bid price. -
 Total sales of stocks today amounted to 631 ITS shares, including: American Steel Hoop, 1000; do preferred, 4,100; American Steel and Wire, 19,800; American Sugar, 51,- 600; American Tobacco, 56,900; American Tin Plate 4,200; Anaconda, 10,900; Atchison, D. 300; Baltimore and Ohio, 100; Brooklyn Transit 106900; Burlington, 1S,400; Chesa- peake and Ohio, 7500; Chicago Consoli- dated Traction, ALTO; Chicago Great West ern, 5000; Colorado< Fuel and Iron, 3,99); Continental Tobacco, ls,9o0; Federal Steel, 9 300; do preferred, 4,SO0; Louisville and Nashville, 5,l0O; Manhattan, 23,6O0; Metro politan, $500; Mexico Central, $500; Mis- souri Pacific, $500; National Steel, 5,400; Norfolk and Western preferred, $500; Northern Pacific, 9,9G0; do preferred, 6,eO);- Ontario and Western, 590o; Pennsylvania, $500; Peoples Gas, 16,600; Reading first preferred,- $500; Rock Island, n,600; St. Paul, 21 900; Southern railway, $500; do pre- ferred, 4,9G0; Tennessee Coal and Iron, 3,s0); Union Pacific, 5000; do preferred, 6,100.
 Money on call, steady, 3Q4 per cent; last loan, per cent.
 Prime mercantile paper 3iS@4A per cent.
 Sterling exchange, easier, with actual business in bankers bills at $4. S6s4 0$4s6B for demand and at si.S45s@$4.S4s4 for sixty days.
 Posted rates, sLS51E@s4.Se1z. and $4.S71z0 $4SS1a.
 Commercial bills. sf.S4A AdS4.s41a
 Silver certificates, 6f1aq62A.
 Bar silver, 613s.
 Mexican dollars, 4SR
 Government bonds dull.
 State bonds inactive.
 Railroad bonds firm. QBy Private Wire to Paine, Murphy & Co)