Birmingham state herald., 1897-06-22

New York. June 21.-The efforts of the pro- fessional traders to work reaction in the pull stock market, again proved abortive today and the result of the days trading shows net gains in the majority of stand ard shares. The recent oroIer of thIngssWas somewhat reversed when the sagging ten dency of prices came early in the day and it was overcome later by the rally. Per haps the most ominous circumstances of the day was the fact that the dealings sunk into condition of almost apathy, with prices tending upwards. Dullness on a. de- cline is the technical evidence of an under tone of strength. Dullness on a rise is the evidence that prices have reached a stage them as a speculation. There was, how ever, no pressure to sell stocks. The lower prices at the opening came in face of some slight improvements in London where, how ever, the dealings were almost stagnent. Later in the day London was a buyer and was a factor in rallying the market. The effective instrument in effecting the early decline was the talk of large gold shipments later in the week Tomorrow's shipments nounced last week. The tone of exchange was firm, but the market was so exceeding ly quiet that apprehensons to the volume of exports subsided to large extent The quietness of exchange was attributed partly to the jubilee holiday in London It is be-. lieved that shipment of gold of quite large dimensions will be made before the end of the week. The immediate impetus to the rally in the market came from the strength in the Vanderbilts. This com menced in Northwest on the talk of the progress being made in the plan to refund the bonds of this road in a way to benefit the stock. The improvement in Omaha was due to sympathy with Northwest The favor able showing of New York Central for the quarter with a surplus earned of s256. 600, against a deficit for the same period last year of sIO7, 900, broadened the demand for the Vanderbilts and practically all the members of the group advanced, and the whole market was sympathetically affect ed. The rise from the early low point in Omaha was 21s Northwest 1ss, New York Central, 1M: Canada Southern. a point. and k Hartford gained over the lower point. Northern Pacific, preferred. was largely dealt in. and after a decline of %. .~rallied above Saturdays close on the belief that the election of Daniel Lamont. representing the Hill interest, to. succeed President Win ter had been decided led upon p Sugar i9st lest 4 range quite erratically. Chicago Gas also recovered practically all of an early, de and Consolidated Gas 2k. The total sales of stocks today were 174576 shares. including American Sugar, refined, N,sOo; Burlington Fa 1nfy @ ssos NorthaTn anras Pac nrefer 5000
 Trading in bonds was quiet and values but little in the leading issues. The undertoi1e, however, was firm, with some of the usually inactive mortgages conspicuous for mate rial gains
 The aggregate sales were s1, ,2s4 000 ,.,-
 Government bonds continued to move up on light purchases. The. ctions were
 Money on call easy at 1@1K per cent. last loan per cent; closing offered at per cent.
 Prime mercantile paper, BOA per cent
 ster1ipg t s eers s r n h asFa for p@s a Posted rates Ass1zasa;a and a.sss5sl6s,.
 ('or.imercial bills, &. .s5ls
 Silver certificates. 6fhM61h.
 Rar silver eAh.
 Mexican dollars. 47%.