Birmingham state herald., 1897-06-12
Cotton Letter

Cotton Letter.
 New York, June, 11.--(Special )-Impreyed weather in the south was the dominant itt- huenee in the cotton market today. Liver pool was disposed to pay but scant atten- tion to our break of yesterday the carly cables reporting decline of but one sixty fourth there. Our market in turn ignored the steadiness of Liverpool and oPenedefrof1 unchanged prices to points flown. Iater Liverpool weakened and priees.here4 eaeed. further after the opening. Short covering caused a good rally but selling orders at all times were plentiful and the market t. de-- clined again to almost the lowest fgnress
 August opened at 717 deelined to T13. rallied to 7.19, again gave way ar1seloscd at 7.15 to 716 with the tone of the market qliet. The south sold freely today and Liverpool was liberal buyer. The better crop weather has increased the confidence of those who think cotton is toe high. Should it continue the chances favor lower prices.
 Rl0RDAtI < co, '
 lrWall streas.-.s..4 s,..
 New York, June 11.--The price of securi= ties today scored further, step in the progress toward d higher plane which has continued the dominant tendency of the market now for over two weeks. There was a large amount of selling to realize profits from time to time by holders satisfied with their gain, and skeptical of the stability and permanence of the higher range, prevailing. This has been the case more and more Hota- ply, but the offerings to realize were quickly absorbed with only a temporary setback to prices. Closing prices today were generally the best of the day, owing to this profit taking, as was the case yesterday, net gains being considerably less than tue extreme, advance. The aggregate sales being ta bout 300 000. List of transactionS also shows many additional stocks awakened from a dormant state into active trading. This was In fact so markedly the case as to sug- gest nanipulations with the purpose of bringing inactive stocks up to the level of the recently advancing and active seeuri- ties. It was very familiar device in ities while sustaining the narket by pur- chasing another. -
 The favorites in today's advance wefe the low priced shares of reorganjzed eempa nies. There were over S,000 shares of N orthsfn Pacific preferred sold, exceeded only by Su-. gar, with 4lO0O; Northern Pacific common also showed sales of over 12.ae0 Of Union Pacific 22,000 shares were sold. This gse,ap. Of stocks @ had ia bsen tbs favore wse heon % vited some selling to realize kLohden Swas, also a buyer Reports from exehaIsges~iAF other cities of revived interest and aotiViiv T. speculation helped to sustain tie market. The. advance in the anthracite coalars was accelerated by the difficulties of the sl ort interest whose needs were aggravated by the increase of the lower rates or so | of this group. The prices oS many stocks were carried back to last nights close i,s isal-, iZing at one time or 9nother' durinyetbei day. but practically all show net gains -., 7tas
 Phe stocks of the iron companiss were notably strong on the tfade opt'1Dk. Y DC total sales of stocks today were rs2.iF ,n03 shares, including Ameri san Tntacqp, cR, ,t9O: American Sugar. 42,fOo; lslrllp gfgf5 z 3f1 ware and Hudson, 500: f.ouispfiic and Nashville, 5.100; New York entraIl. 55ss !. Northern Pacific, 12,209: Sor-hernJI Fasjhc preferred, 27S00; Reading, l5NO0s Book, s7 land, 12990; St Paul, 1S,1)0, Tenpet,see Coal and Iron. 5.alO: IInion racinc A 500 New Jersey Central 3,500. st7ieiS h4tY' -- Money on call easy at 1@1A per cent. last last Ioan per cent. diosed itfiil per cent. Prime mercantile paper 3IsfI4 tpsr, cent B Sterling exchange tirmer wits actual bust ness in bankers bills Ut sa.s7 slr, dcmand and at $4.S5aiGfs4. ,8 for GO days. ss, s- Posted rates, 4.sG'sffsf Ss and s4 SsG$4 sS4 Commercial bills, q S5 ' Ha a6y.1 Silver cert!h -ates. ftI6eisc.-r's .1,.liit Bar silver, 597kc. e9 ere Wt Mexican lolars, 4sse.
 Government bonds strong.
 State bonds dull. - -7- -, ---->>' Railway bonds strong.
 Iioslns StuckS. s.. Aff.EL SOL