The age-herald., 1897-08-21
J. P. MUDD & co.
Stock


 Birmingham, Ala... Aug, 2o-There were two sides to the market today and the bear side seems to have had little the best of it. The bear interest is SUD- posed to includs MT. Well, MT. Warner, Mir Bell a group-ef SaTatoga operators and some of the inf11entlal room traders sold stocks early in the day on crop dam age, later on stop orders, and during the afternoon on talk of extension of the soft coal strika i1lta the anthracite re- zion. The decline was resisted openly by several large bulls. Some of the large bulls continue xto talk as conf dently as at any time before, but their view seemed to be more with reference to the permanent markat than to imms- diate fluctuations. Very few people be- leve that the bull market was any where near an end. The only question was in regard to the extent of the reac- tion. Some thought the decline would go little way while others anticipated a fall in leading stock of from 5 to 10 points from the highest and a rssump- tion of the aggressive bull campaign in September. The greatest decline today was in the granger 1ist.' Rock Island declined from S51a to S4, St. Paul from 931A to 911a and Chicago, Burlington and Quincy from 959s to 931a. Jersey Central lost over 1 per cent, Reading about 1 per cent, and American Tobacco per cent. Sugar lost over I per cent. while Louisville and Nashville lost over per cent. Near the close, however, there was a slight rally from the low prices. There has been a good deal of inquiry in regard to Mobile and Ohio since tho stock started up last week. The road is completing an extension of 16S miles with twenty-seven miles q of branches from Columbus, Miss, to Montgomery, Ala, for which it has issued and sold $4,000, 900 bonds. The property has been gradually improved from year. to year. Improvements have been made on the property out of the surplus earnings over interest and rentals ThA Car trusts have been paid off out of earnings and the road Is now substantially free and clear. For the year ending June 1896, the surplus over charges was 2S4,236 and In previous years ranged from $55, 900 to $200, 900 With the new extension compl4ted the road is in position to pay something on it's common stock, of which there is only $5,320, 600 outstanding out of $10,- 000,0 900 authorized
 The distribution of 2A per cent. on Central of Georgia first income bonds was 4 per cent more than was expected by most people. The whole distribution calls for a sum of s9O,000. The expec- tation is that at least per cent. will be paid on these bonds nexts ysar.
 The money market is very slow to re- fleet improved demand. One reason for this is the fact that the interior reserve cities are well supplied with funds this year, and are providing the means for movement of the crop themselves hence there has yet been practically no de- mand for currency shipments to western points which ought to have begun soms- time ago under ordinary circumstances. The south is beginning to draw little more freely and the magnitude of the cotron crop ought to result in very fair shipments to that section i1 the next few weeks. The alrge borrowers seem to have supplied themselves with time money for the moment, and th4 demand is mostly scattering. Rates are just about steady and not much more.
 J. P. fMUDD & CO