Birmingham state herald., 1897-06-05
MarkefS by ]. Telegraph.
Cotton Letter.


 Cotton Letter.
 New York, June 1.-The cotton market was very dua again today. Liverpool was not encouraging but our market was only slightly lower at opening. little iqui- dation caused decline of a few points af- ter the opening. The trading was light and very un.mportant and the loss was partially recovered. A rather bullish cir eular issued by Messrs. Latham, AieXan- der & Co.,. giving the increase in cotton acreage at 4-lV per cent. had no effect on prices. August opened al 6,20, dechned to blb advanced to 6.20 and closed at 6,fS 10 bls, with the tone of the market dull. liie Liverpool market will be closed until Tues- day next. RIokDAN x co.
 in Wall strev..
 2 New York, June 4.-There was sonic room traders on the stock exchange Aoaay, .wn0 lnaiiIested occasional timlulty as, to the ssearelty seal s oI vaines at. the lmproVementw which has been sustained now for the greA teE4pdr1 or two weeks. This element took tnslr profits from time to time during the day and their selling took thesr profitb from tmr had a slight temporary effect by causing small recesslons in them ore susceptible stocks. but the offers to realize were ob- served without notable effect son the geh- seral market which remalnedt slrbng and firm all day and closed at prhctieai7y the best prices of the day, net ganls beng the ru-e which extended to noteworthy proaor- tions in some specialties. chicago Gas s the veS eenter o of interest n a the na1sss & It enjoyed for quite a lengthened@period A determined drive was made aga.nst this stock along towards the close of the mar ket apparently with the purpose of effecting a decline in the general market by induca ing sales to remain aswas done lyesterdaS:. The gas stock was in fact driven doWn.gIA per cent. and some loses occurredsc a tsstise same. time in the general list. But 43hele was no such rush to realize as marke avn a all ~f1axr fafa Gas more than recovered it's loss and he market generally rose to the high point before the close. The newly awakened out side interest in the market made manifest by the commission houses buying was the noteworthy sustaining fact in the market. Orders were forthcoming in all the, lead price. There was a marked demand for stocks which have beensheavily sold short of late. Notably so insANew Jersey Cen tral the stock rising 1ls per cent. above last nights close and gaining 2 points net. Reading shares also registered notable gains and were freely bought: There was a coincident advance of Lehigh Valley in Philadelphia due to reports of the securing of the control of the company by sargt taking up an option obtained some lime since. Further scrutiny and study ofS the sive strength to the stockRof the comPany and by sympathy to the whole granger group, constituting whatis apparently though fguratively termed a back log to the market. Northwest net gain was 1ls- per cent. London was much less of fac tor than for several days past, though there were purchases for London account in a. number of stocks. These were -sprobablX curtailed on account of tomorrQNs and lolls day both being holidays in London. The Gould shares were under-some special pres sure Missouri Pacific end Western -<U toir both losing a fraction ou7 the daybin spite of an increase in gross earnings for the fourth week in May of the former of S5S, 900. The engagement of $500, 900 in gold foreship- ment to Europe was without appre ciab'e effect on the market. 4 The total ssa,eE of stocks today were 205,274 shaTes fincaufing American Sugar Refiner f88eOs Burlington and Quincy 16,400, Chicago Gas 39, 500. North western 740O Readipg odd lS i9e Rock ;Isand sn6 New Jersey Central 20,200.
 The istrengthl of thek bond +nark con tnued unabated and a considerable degree of confidence was noted in the dealings. Large blocks of the leading securities changed hands and ipyestmept interests high grades Hens. The constant abSorp- ton of the active interest mortgages byf for eignerS tends to impart a considerable de gree of buoyancy to the general speeula- ton which is accelerated somewhat by the favorable developments in individual issues. The aggregate sales were $2256000.
 Governments displayed--a hHraeRiTg ten dency with the new fours absirbing the dealings The sales were S10OO
 Money on call easy at 1N111s per cent; last loan per cent; clos-ing offered att1 per cent.
 Prime mercantile paper. 31aG14 per cent.
 Sterling exchange easier with actual busi ness in bankers hills ft S4. 4.7 for de- mand and at s4S5%Gn4 Ss For Sixty days.
 Posted rates, 4S6i@d4.H and $4.8Slp4 SSls Commercial bills $4.s5.
 Silver certificates, 60S@60lsc.
 Bar silver. Soc.
 Maviao doJ1ore 47Ap <.