The age-herald., 1897-08-07
Stnck 1Leifer.


 Birmingham. Ala, Aug. 6.-The stock prices had a good substantial gain in the majority of stocks. There was, how ever. some selling. for profit taking in some few of the high priced stocks, but this had but little effect with the excep- tion of Sugar. This stock lost about 1 per cent. on the day This decline was caused by realizing. People who had been right on Sugar say it will shortly cross l50, but, speculation in it will prob- ably decrease materially as soon. as it is realized that most Of the stock has been taken out Of the Street. The, senti- ment on preferred continues strongly bullish for at least 125.
 People who are buying Tobacco say there was never any reason why the stock should have old. in seventies. They think the stock is worth 125 and nar- talaly stock paying per cen ana .A h. ing more than F per cent. is not ..ear under par The market has ceased to be professional It has become broad with a strong public interest!e aYou can sell a large block of stock without it's hay ing any lasting effect upon prices The market has been frequently tested in the last thirty days by the sale. of lots amounting in some cases to as much as 25,0O0 shares. In every instance the stocks have been bought back higher
 
 of the buyers show that stocks are being taken not by any interest which is sup porting the market, but by widely scat tered interests-in other words by what is best called the public.
 People who have had stocks have sold them out at a profit time and again, but after waiting for a reaction they have gone in again at higher level.
 People who have made profits have told their friends and this has brought steady increase in the volume of buy ing The line carried by commission houses are larger than they were. but taking the realizing into account it is doubtful if the average commission house in Wall street is carrying today any more than it's normal line of stocks There is not likely to be any serious ds= cline until commission houses are more heavily loaded than at present.
 Leather, preferred, gained 1A per cent. today, and Chicago, Burlington and Quincy over per cent. The outlook for Chicago, Burlington and Quincy is very bright, their grain movement in the past three weeks having doubled. The in- crease in gradn loading for July was B. 900 cars over June and 1t is believed they will handle mo- less, than 15.000 cars this month. Louisville and Nashville found another high mark today, selling at 59%. The movement in Louisville and Nash vile is usually aboutstthe same as that of the leading granger stocks During the present pull market, LOulSvllle has risen in sympathy with other stocks, but has had no independent advance. within the last five days, however, an interest which has successfully pulled the grangers, have been trying to accumulate Louis vile and Nashvillet 1t looks as though the strength which the stock showed today. might increase in the near future. The absence of bull speculation in Louis wille and Nashville has been the result of London selling and the outgrowth of a feeling that the stock could not be suc- .cessfully advanced against the London realizing On investigation it has been found that about all the floating Louis vile and Nashville in London has been sold. The large Rothschild holdings are not for sale a present. The trans fer books show no movement of real stock this way and it is evident that there is a large short interest in Louis vile both here ard in London. Earnings are improving and promise further gain. Under these circumstances Louisville and Nashville is regarded as affording opportunity for a bull campaign.
 The close of the market was at a slight reaction from the high point, but with a very strong tone.
 D MINDn c. CO