The age-herald., 1900-01-25
STOCKS DRIFTED
 LAHLY AROUND A Few Sharp Gains Made at the
 Opening. LOOKED TOWARD LONDON The New York Exchange Was Entirely subservient to Foreign Cables All Depends on Result in
 South Africa
LOOKED TOWARD LONDON

New York, January 24.-Prces on the New York. stock exchange seemed entirely subservient to the movement of prices on the London exchange. The first sales of in- ternational stocks showed sharp gains in response to the rise achieved earlier on London exchange
 These opening gains conform closely to the net gains for the day. It seemed im- possible to achieve any movement of prices after the opening, and the almost stagnant market drifted along at about the opening level for the rest of the day. The gains were closely proportioned to the previous days losses and probably measure the rec tiication of the short contracts put out yes terday on the exaggerated rumors of Brit ish reverses in South Africa
 The whole movement cannot be said to be more than sentimental, as the actual news of the day failed to throw any light on the Boer war situation. In the list of in- dustrials and specalties where the proper ties concerned would feel no effect either from success or defeat in South Africa, the movement of prices followed sympatheticaI- ly that of the railroads.
 Dealings in this department continued much larger than those in the railroad de- pertinent, but were strictly professional The only reason discernible for the advance in prices was that there were declines yes- terday. A considerable demand developed later in the day for American Steel and Wire, which carried it up an extreme PA, and lifted other iron and steel stocks in sympathy. The stock of properties operat- ing New York public utilities also made a continued show of strength. News bearing on the industrial outlook was all favorable.
 St. Paul's weekly statement, leading the fa,r -fN6 -l,<, of over $S9,0OO over last year's unprecedent- ed level of earnings. There were good third week statements also from Wabash, Denver and Rio Grande and Rio Grande Western. Less assurance was left with gard to the financial outlook. Money rates hardened a fraction in London and Berlin, and there was a sharp fractional rise in sterling exchange.
 Quotable rates for money were not chang ed in New York, as funds continue to ac- cumulate in new banks. But the rate of accumulation shows a considerable falling off from that of last week. A further re- ductfon in the Bank of England of the rate of discount has been anticipated, but whether today's hardening money will re- suit in disappointing this expectation re- mains to be seen. The absorption of rail- road bonds continues a. moderate scale, but ito a lessened extent, owing to the smaller inflow of money. There were some weak points in the list, making the mar ket irregular. Iotal sales, pdr Nhue' PA'- 2iO 900.
 United States new As, 3as, coupon, and DIS and old 4s coupon declined A, and do reg istered 1S, in the bid price.
 New York, January A.-Money on call steady at 21S@31s per cent; last loan, per cent; prime mercantile paper, 41sq5A per cent; sterling exchange firm, with actual business in bankers bills al 4S7 for demand and 4S4 for 60 days; posted rates, 4S41Sd4S5 and 4S716@4SS; commercial bills, 4S3@4S31s. Silver certificates, 591a@601ac; bar silver, 59%c; Mexican dollars 471ac. Government bonds weak; state bonds strong railroad bonds irregular.
 <7. r.,,.o xUtra +o Ta1hoft 2, Palmerl