The age-herald., 1900-01-13
SUGAR RALLIED
 DESPITE BEARS Friends Came to the Rescue and
 Prices Went Up. MARKET GENERALLY STRONG
MARKET GENERALLY STRONG
The Relaxation of the Pressure on Su- gar Gave Strength to the Entire Days Trading, and Closing
 Tone Was Strong

New York, January 12.-The opening sales or Sugar afforded convincing evidence that its friends had rallied to it's support, and were prepared to contest the progress :he bears have made in cutting down it's price.
 Very heavy blocks were thrown upon the market at the opening, but the quotation was lifted from 113 to 114 on running sales in the first transactions of the day. The opening price was the lowest.
 After the stock got above last night level, the bears renewed their efforts to depress it again, but without success. The resistance shown by the stock caused un- easiness in the ranks of the unwieldy short interest, and they started to cover. They carried the stock up to 11S near which it closed. There were no further signs of the acute weakness which were shown yester- day by the local traction stocks, and To- bacco, which was said to be due to the closing out of an embarrassed account. These stocks were under pressure during the morning, but they responded to the re- covery in Sugar and later strength in the market, and rose vigorously above last nights level.
 The relaxation of the pressure on Sugar played no small part in the general strength of the market. Railroads advanced at the opening in sympathy with strength abroad and were not embarrassed by a demoraliza- tion in the specialties and so gained strength as the day progressed
 All the principal stocks gained from 1 to 2 points over last nights level, and closed strong at the top. Some very heavy blocks of Baltimore and Ohio were taken on in the late dealings by the circulation of rumors of approaching dividend clearngs The m 1r rlrnf adn,R dealings on the improved sentiment in for eign financial circles and in expectation of a strong bank statement.
 The Bank of Germany followed the other European government banks today by re- ducing its minimum discount rate from I to per cent and the rapid downward course of private discount rates in London gave confidence in still further reductions in the bank rates. London also took a san guine view of the advantages of General Buffers new position on the Tugela river The buying for London account was suffi- cient to cause a sharp break in sterling eX- change rate all around.
 Sub operations had yielded to the banks $S,443,OO0 up to Thursday night. The net gain of the banks on the regular export movement with the interior is estimated at about the same. amount. This does not take &C., count of receipts by registered mail which are reported to have been on large scale.
 From these amounts must be deducted last Saturdays gold exports as well as $1,- 900 OO0 in gold which went to South America today. The net gain by banks on all ac- counts is figured at about $400O0O0.
 The bond market continued dull but was strong. Total sales, par value, s2,195,OOO United States 3s registered declined 4s but the 5's advanced 1s in the bid price.
 New York, January 12.-Money on call steady at 36p412 per cent; last loan, per cent. prime mercantile paper, 5hd6 per cent; sterling exchange weak, with actual business in bankers bills at 4S6A44.& for demand, and 4.S3014 S9A for sixty days; posted rates, 1. .s4G4 S415 and 4.S71k4SS; com mercial bills 4.S21kG14.S3.
 Silver certificates, 5s1ad59hc; bar silver 5S5sc; Mexican dollars 4712c
 Government bonds Irregular; state bonds inactive; railroad bonds strong.
 (By Private Wire to Talbott & Palmer)