The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1897-08-24
RIoRDAN & CO.
In w eli Street.

New York. Aug. 23.-The stock market
today shook itself free from the heavy
restraint which WIS imposed upon it dur
ing all last week and bounced upward
again. Today the traders who threw
their holdings upon the ma. lxet lasa week
TO realize bought stocks in enormous vol
ume and brought the level of, the mar
ket up to about the level of last Mon
day. The great noneyed interests that
were concerned in 'toGay's business was
shown by the heavy blocks of stocks
taken up and the heavy buying of bonds
The commission houses which had with
drawn from the market last week and Ia d
Joined the selling movement toward the
latter part of the week were out in full
force again I'M the market today. 1t was
more a movement of large dealers 20 buy
back at the lower level what they had
sold. The motive of the bear movement
and the resumption of buying was q
growing scepticsm regarding the reports
of reduced spring wheat crop in the
northwest. The enormous liquidation in
the wheat market gave confirmation to
these doubts. The continued rise of
wheat in England and on the continent
on the other hand was continued evidence
VI oHO IOiGfSA IfSSu III NnSdl, anu gave
assurance of great freight traffic to the
seaboard to transport grain and back
again to transport the merchandise which
the farmers profits would buy. The
strength of corn and cotton in London
also aided the stock market. The fact
that foreign houses sold grain in the mar
ket and thai PURCHASES for expor. were
largely curtailed did not prevent the
ct
%c for actual rates of both long and short
sterling the former falling to $4.S3as and
the latter to S4.S5h. This reflects aIhe
warming Influence of the measures taken
by 1.-The Bank of England to defeF'a the
movement of gold TO this country, and
was strengthening factor in the stock
market. The grangers and all grain car
rying roads led the improvement, Bur-
lingIton leading with "a per cent. The
Vanderbilts shares and Southwestern, the
Gould stocks, the In,ternat ianl shares
were all very strong and active, and few
failed to show a net improvem5 MT of at
least point. THE anthracite coal shares
especially the Reading, were also active.
The total sales of s. ocka today were
449,362 sares, including Atchison prefer
red, 32,253; Chesape AXE and Ohio, $3.50;
Burlington, 47,0S0; L. & N, Is, $780, Man
haitian Elevated, $500; Missouri Pacific
S579; Northern Pacific, 1901; do preferred
19,14S; Reading 1926; Rock Island, TO-
120; st. Paul. $500; Southern Railway
preferred, S,134; Union Pacific, Ii, $50; To-
bacco, 1865; Amer lean Spirits, $500; Su-
gar S,940; United States Leather, 7,S20
do preferred, 26,O20; Chicago Great West
ern, 1906
The bond market showed re-awaa1ened
ACTIVITY, the Arcllieon, Erie and Nor IN IN
Pacific issues being prominent; Atchison
adjustment tours gained 1ss and Erie 3A
Money on call easier at IL per cent;
last loan IL per cent; closed offered IL
per cent.
Prime mercantile paper 1904 per cent.
Sterling exchange weak with actual
business in bankers bills at $4S51a@A
for demand and at $4.83%@R for sixty
days.
Posted rates $4.S4k@4.S5 and $4S61a.
Commercial bills S4S21a@4.S3.
Silver certificates 52@Rc.
Bar silver SIC.
Mexican dollars 1890.
Government bonds steady.
State bonds dull.
Railroad bonds strong.
Petroleum, Pennsylvania crude, no
market, nolninally at Soc.