The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1897-10-22
In Wall Street.

New York, Oct. 21.-Wheat looked at
one time today like q resumption in
force. The upward movement of prices
came TO an -untimeiy end in the after
neon on the Wall street Interpretation of
S? aims reported intention to press fer
more stringent measures against filibus-
tcrers by he Uo.ie1 States government
and to call this government to account
for the success of filibusteling expeii-
tions. There was a very wide range of
fluctuations for the day, and movements
of prices were conflicting and contrib
uted up to the final decline. There was
a good deal OF commission house buying
reported but the market continued for
the most part professional Union Pa
cific was an element of weakness, its
decline being caused by renewed circu-
lation in the street of a syndicate agree
ment being made contigent on some fur
Their developments in the case. Reports
were also circulated that money was
being raised fer this purpose in London.
Selling of stocks for Londan was more
or less a drag on this market. The early
rise in the market was aided by the
continued favorable character of state
ments of railroad earnings and rlmors of
statements yet to come. But the ques-
ton is arising in the minds of dealers
in stocks, how far the present high earn
ings are due to abnormal movements of
special commodities. The president of
one of the great trunk lines points cut
that the rise in the price of wheat led
to quick and heavy uploading of western
granaries, and that the settlement of the
great soft coal strike is bringing forward
very heavy arrears of traffic. He adds
cautiously:
ut is impossible to state now whether
Shis improv cement is due to the prosperity
of the country. After the abnormal
business is over I will be better able to
state whether the improvement is likely
to continue"
There has been, of course, a marked
increase in the movement of general
merchandise over The railroads, but own
ers of shares in these properties are be-
ginning to question the extent OF this
general improvement Money continued
distinctly easy in this market, the bulk
of the call loans being made at about 2
per cent No further imports of gold
are expected while European money GEN.
ters show the present relative stiffness of
mates, the tendency being all the time to
increase the difference as shown by the
sharp contraction in the Bank of Eng
lands loans this week. Transa ctions to-
day were on a small scale outside of the
industrial specialties, the grangers and
one or two other aeadlng railway
stocks.
Transactions in bonds were dull and
prices in the main were firmly held Deal
sngs in Union Pacific collateral trust
notes were feature. Total sales, 81, 900,-
900.
United States old founs were advanced
Is bid, the new founs " bid and the fives
registered 70 and the fives coupons u.
The total sales of stocks today were
100000 shares, including Atchson 10, 900;
Chesapeake and Ohio, 1920; Chicago
Burlington and Quincy, 1920; Louisville
and Nashville, $3.50; Manhattan, 9,4e0j
Missouri Pacific. 9,949; New York Gem
trial, $685. Northern Pacific preferred,
S,612; Rock Island, II, 1856; st. Paul, 20, 400
Union Pacific T. R., 1906; American To-
bacco, SAT-; Bay State Gas, 12.115; Chi
cago Gas. 81, 450; Sugar, 36,465; T. C. & l..
4756; Chicago Great Western, 1900.
Money ON call easy at 2@21a per cent !;
last loan at 2 per osnt.; closed offered at
2 per cent.
Prime mercantile paper 4Q41a per cent.
Sterling exchange firm, with actual
business In bankers bills al. $4S4ts for
demand and at $4.S2@4.S21s for sixty
days.
Posted rates. $4.S2k@4S31a and s4.S5A.
GOA omb HIM hun HIM Inn lm HIM hm
Commercial bills $4.S1.
Silver certificates, 5SQ59isc.
Bar silver, $3.50.
Mexican dollars, 451ac.
Government bonds, strong.
State bonds dull.
Railroad bonds, firm.