The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1897-10-16

not too bright. We CONSIDER snort safes
extremely hazardous.
RIoRDAN< & CO.,
In Wall Street.
New York. Oct 15.-Today's market
was a contest between professional
traders, as has been the case each day
this week. The bears were again sue
cessful during the morning, but they en-
countered resistance at the lower levels
and were forced to cover heavily before
the close of the day, SO that prices were
brought back to within a fractional
limit either way of last nights close.
Chicago Gas continued Ito absorb very
large share of attention, and it was in
this stock that the bears suffered keen
reverse They succeeded in FORCING
down the price at one time 15s per cent,
but the inside support for the stock was
very strong and the advance drove the
bears to cover the stock, closing with
net gain of 2%. Sugar, also, which was
raided down 3as during the morning,
showed considerable resistance, recover
ing at one time within less than point
of last nights close. Tobacco, which
sold ex-dividend of per cent, Declined
at one time points These three stocks
we're made the objects of the pears
most urgent attacks, and they worked
a sympathetic decline in the general
list which extended from fraction to
points, the specialties and the south
western railroad stocks leading the de-
cline. Some favorable effort was eX-
ercised on prices by the postponement
of the hearing before the supreme court
in the Joint Traffic association case until
next January Although the decision
of the court in the case of the Trans
Missouri Freight association has been
regarded as foreshadowing an adverse
decision in the Joint Traffic association
case, much has been made of the de-
tendency of the case upon the recent
bear market, and it's postponement gave
a sense of relief. Arbitrage brokers were
quite vigorous buyers for London ac-
count and took about $4,000 shares of
various stocks on balance. This also
was a favorable influence. harden
ing tendency in the exchange market
was attributed to the demand for re-
mittance by tomorrow's steamer but
some disappointment was nevertheless
felt by dealers in stocks that no engage
ment for gold for import was made.
This was partially offset by the ssnti-
mental effect of the actual arrival and
deposit in the assay office and in the
clearing house vault Of further consign-
ments of the gold shipped from England
last week. Money continued easy in
tone, and it is believed that tomorrow's
bank statement will reflect a falling off
in the demand in this center for funds.
Aside from the cases specified and those
of Susquehanna and Western preferred
and Norfolk and Western preferred,
which lost over a point, net changes are
very narrow. The decline in Norfolk
and Western preferred was due to real
izing on the declaration of a l per cent
dividend ON the preferred stock.
Bonds moved in sympathy with stocks
and showed weakness throughout. Total
Sales, 81 $4,000.
United States bonds. were unchanged.
The total sales of stocks today were
492650 shares, including Atchison pre-
ferred 7,S42; Chicago. Burlington and
Quincy, 24,260; Louisville and Nashville,
$685. Manhattan, 1925; Missouri Pacific,
1885; Missouri, Kansas and Texas pre-
ferred, 600; New York Central, 7,645;
Reading, 717O; Rock Island, 16,4O0; ST.
Paul, $1,000; Southern Railway prefer
red, 1922; Union Pacific, 21,722; Ameri-
can Tobacco, ex dividend, $3.50 Chicago
Gas, 1890; Sugar, 54,72O; Western Union,
6,7S4; Chicago Great Western, $3.50.
Money on cali steady at 21a@S per
cent; last loan, ~ per cent; closed Of
fel~l, 2h per cent.
prime mercantile paper, 1905 per
cent.
Sterling exchange steady, with actual
business in bankers bills at $4.S4S@
4.S4h for demand and at S4.S2 for sixty
days.
Posted rates, s4.SS@4.S31s and $4.s5k
Commercial bills, $4S1.
Silver certificates, 5S@5S1ac.
Lar silver, 5S%c.
Mexican dollars, 441ac.
Government bonds, firm.
State bonds, dull.
Railroad bonds, weak.
STOCK. Opn. Close
AtchiSon ............... zo7S 9SA
American Spirits 49,. 1Uzs 1913
American Tobacco ...... 81 S9A
Sugar ......:. .............iSc1a 1879
Bay State Gas b VA
Chicago, b. and Q y2l2 43s
Chesa paa and Ohio 2lL ylh