Birmingham state herald., 1897-06-03
R1oRpAN k 60.
In Wall Str,


 New York, June 2-It looked for time after the opening of the stockmarkettoda as though the expected reaction from, the 1trength of the last few days had come ito pass and the average prices was about ito vibrate downward again within the marrow limits which have characteriZed the short turns of the market for many weeks past, traders. Prices of AmerIcass securities came lower from London this morning, re- hecting the disappointment of the British investing public that Wall street had not responded with more enthusiasm, to, the confidence in Americans dlspiayedl by. the London rise on Monday.
 The traders, however, had made up their minds that the market had advanced as far as it was ripe and was ready for a reaction and worked accordingly. The gold ship reactionary tendency The shipment amounting to only $650, 900. was sufficient to was not yet low enough to preclude gold shipments under the prevailing abnorma demand for gold abroad. The withdrawa of a sum of gold from the subtreasury for deposit in the clearing house vaults to the account of bank also served to offset, to some extent favorable effect of part of the shipment being secured from private sour eCs instead fnQIn the sub-treasury The consequence of these things was a reac- tionary tendency in the market through the morning hours. Liberal sales of NeW Jer- sey Central marhsd down the price of that favorite of the bears. But the depression in the market was at no time marked and the decline in prices was limited to small fractions except in one or two special ea ses. The traders awoke to perception that their selling in special stocks did not invite a following and that the expected reaction halted. The buying by the commiss.on houses for outside account proved suffi- cient to hold prices firm even when the grangers and some other leading stocks.
 Thedealings in the bond market indicated the broadening tendency of the speculation The outside buyers showed a marked pref erence for the low priced shares of some of the reorganized companies, a class fsecur-' ities that has been greatly improved in de- mand for several days past There was light recession in the final hour on prof the high figure attained in the strong buy ing movement which set in the afternoon A notable feature of the. rise was that it was accompanied by London buying in vol ume and was in the face of efforts by tra1- CTS for a reaction. profit taking heins in marked volume at times but always well absorbed Net gains occurred in all stock with a few exceptions. The total sales of stocks for the day amounted to 24.5iS ine sha5es incl susas % % Scgggo as bS GOO: Chesapeake and Ohio. 5,2eo; Louisville and NashvtIle;. s,2oo; New York Central 5, 74co % Rock ase Island. 1o7so: st. Paul. 2P ' io' Southern Railway, preferred 9s0o.
 The bond market participated to mod ent a t in the stock. market. The. srecuative isues were the features of the dealings and round amounts were taken for foreign ac- count, with the Atchison li"@s especially fancied. Marked gains were registered Sn some of the middle grade issues. The az gregate sales were si.s2s, 900.
 Money on call easy at 114@11s per cent. last loan 1A: closed 1H- Prime mercantile paper 31s64 per cent. Sterling exchange steady with actual business in bankers bills at s4G for demand and at s4 S52Gc4 Sf for sixty days. Posted rates, @S4. .S615GsLS7 and stssla. Commercial bills, sts5A.
 Bar Silver, eec
 Mexican dollars, f%c s,,