The age-herald., 1900-01-19
LITTLE CHANGE
 IN STOCK MARKET Sugar Was Advanced ina DeSuI-
 tory Manner. UNDERTONE WAS STRONG
English Market Showed Considerable Improvement on Account of Meagre News from South Africa and
 Stiffened Our Market

New York, January 1S.-Stock market conditions showed no marked change from those prevailing for some time past, and general lassitude was the characteristic.
 One or two railroad stocks reflected fair demand, notably the Norfolk and Western issues and Union Pacific. The Baltimore and Ohio stocks were also bought in mod crate volume.
 Yesterdays movement in leather from which spectators hoped the market would receive an impulse. dwindled away and profit taking depressed the price.
 Sugar was advanced in desultory man- ner during the early part of the day, but in the afternoon broke over five points from the top level and unsettled the whole mar ket
 Covering by the bears in sugar and the late demand for Union Pacific stifened the market again and served to retrieve part of the decline, making the close firm ana the net changes mixed. There was a very marked absorption of new and re-organlza- tion bonds which served as back ground to the strength of the whole market for securities.
 The undertone was unmistakably firm and in spite of the very light demand there was no pressure to sell stocks. The fur ther reduction in the Bank of England's s private rate of discount and the weekly return of the bank served to confirm con- fidence in the money market.
 The strength in London on this score and on the hopes of better money and by the meager news from South Africa causes some reflected strength in the New York stock market. Reserves continue to ac- cumulate in the New York banks both by reason of the refux of funds from the in- terior, the deposit of internal revenue col lections with the bank, and extraordinary government disbursements by the sub treasury on account of pensions.
 The stock market demand for money for call being very light, funds are pressing more and more for employment in time loans, which quoted as low as Az per cent on all railroad stock collateral. EX- traordinary loans are even reported at per cent and mercantile paper of a high grade is coming in to additional demand at per cent.
 Today's strong undertone in stocks was emphasized by the good reports received during the day of railroad earnings for the second week In January.
 The hardening tendency of sterling ex- change Is viewed with tranquility because the Bank of England has withdrawn it's concessions on gold exports. thus raising the gold export point for exchange consid- eTdDly dDONe uHdl dl WulCH Solu hoo iS- gently gone out.
 The improved demand for bonds is na- tural result from the cheapened rates for money and the pressure of capital for pro- ductive employment. Business was fairly distributed and advanced quite uniformly. Total sales, par value, $3,255,000 United States 3s and old As advanced b. and new As, coupon, declined A in the bid price.
 New York, January 1s-Money on call easier at 2d2A per cent; prime mercantile paper, 5G6 per cent Sterling exchange firm, with actual business in bankers bills 4o71s64S7A for demand, and 4S97sGl4S4 for 60 days; posted rates, 4S41A@4S5 and 4SS: com mercial bills, 4S3@4S31a. Silver certificates, 5s96Oc; bar silver, 59Ac; Mexican dollars, 47hc. Government bonds irregular; state bonds easier; raiFoad bonds stronger.