The age-herald., 1900-01-18
STOCK MARKET
 
 CONTINUED DULL There Was UnmiStakable Under tone ot Strength. LONDON MARKET STRONG
Character of Small Buying Demand Showed Substantial Improve ment-No Excessive Dealing
 in Leading Industrials

New York, January 1.-The stock market continued dull and without much life but there was an unmistakable undertone of strength and the character of the small Buying demand showed a substantial i'm provement.
 Dealings in the highly speculative indus trials still predominated, but the proportion of the dealings in them were not so ex- cessive
 There was notable movement in the Heather stocks early in the day, but it was mot well sustained. Third Avenue suffered a violent decline of 6A points, but reeov- cred 3h.
 Otherwise the group manifested strength under the influence of the covering by the outstanding short interest, which was in- fluenced by the general strength of the market.
 Reports of a military success for the British made the London market strong and was reflected here. The upward course Of sterling exchange and exchange on Paris served somewhat to neutraHze this in fuence in spite of the continued fall in the regular discount rate
 The decided Improvements in the buying
  CTS, Southern Pacific and Baltimore and Ohio, though the latter stock met free of ferings to realize. The railroad list gener- ally was benefited sympathetically by this strength. The St. Paul statement for the second week in January encouraged buy ing in view of the increase of $311, ,555 over last years earnings, which in turn had been greater than the year before by $144,- 355.
 The supplementary report for the BalH- more and Ohio for the six months ending December 31, 1899, was an influence of strength, with it's estimate of surplus over interest and rentals for that period of $3,201, ,513 Statements of absorption on ac- count of the Southern Pacific stock by Union Pacific interest helped the market for railroad list.
 The increased grain movement caused a good export demand for wheat, a cont4n- ued increase in the money supply were all factors of strength.
 The preliminary statement of agricul- tural exports had shown a decrease from last December of $26, ,212, ,36S, and as the total exports for Hhe month showed a decrease from December, 1898, of only $14 565 431, the difference is attributed to increase in the exports of manufactured product to the amount of $11 646,937.
 Taking the total of the year as a whole the decline in the excess of merchandise exports is about offset by the decline in the excess of gold imports, leaving the fla vorable balance of trade about the same as the year before.
 The market for bonds was not very act i've, but was very firm. Total sales par Nalue S,225,000 United States As advanced A in the bid price.
 New York, January 17.-Money on call easier at 2d4 per cent; last loan 21h per cent; prime mercantile paper, 516 per cent: sterling exchange strong with actual busi- ness in bankers bills at 4.S71sG4 STA for demand, and 4.S3%@4. .s3s ,or sixty days: posted rates, 4.S4h and 4SS.
 Silver certificates, 59@60c; bar silver, 59Ac; Mexican dollars, 471Ac
 Government bonds firm; state bonds easi- er: railroad bonds firm.