The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1897-10-15
RIORDAN &c CO.
In Wall Street.

In Wall Street.
New York, Oct. 14-The act ion of
prices in today's market might be lIkened
to the toilsome and arduous efforts of a
weakened animal TO climb to secure sta
tion, only to be continuously tumbled
backward by a single hostile stroke. The
ready success of the bears in depressing
prices led them occasionally to take
profits These spasmodic covering move
ments were achieved without effecting
any marked change in the general level
of prices and the upward course soon re-
suited in am almost sitagnant condition.
There would Ibe "a spirit of activity when
ever THE bears renewed their raid, and
apparently their desire to sell only C AS d
when the bears ceased in setting the eX-
ample by short selling. Chicago Gas
continued to occupy by far the largest
share of attention, and ranged over 4ss
points during the day. Large supporting
orders were in the market at the OPEN
ing SO that the initial sale was at a
fractional advance over last nights close.
But this was the highest quotation of
the day, and the majority of the dealings
were at level considerably over poirt
below last nights close Sugar, which
OdHiG uNSAl III poIIHl VI dCtlNAty, w as S4op
under very heavy pressure and declined
at one time 8 points below last nights
level The firmest tone of the mar
Aet during the day was during the last
half hour, and it locked as if prices
would be allowed to recover to within a
fraction of last nights close, but a re-
newed drive within a few minutes of the
close Knocked back the toilsome toiler
again. Losses ranged from 1 to 4 per
cent. in the most active shares in the list.
The Southern railway and the south
WESTERNS showed the greatest weakness
i'm the railway list. Manhattan was
also quite severely handled.
There was no reflection of any develop
ment in affairs of the day from the out
side, the market being entirely profess
siona1. This fact developes that its re-
covery was not resumption of sus-
tained upward course of prices, but was
simply due to professional manipulate ion
lbo force a covering of short contracts,
which had been freely put out for a
day or two previously. THE gold which
was shipped from Europe last week be
gan to arrive today, 100000 being de-
posted in the assay office and $555, 900 in
bhe clearing house vaults. The money
market continues easy, though with no
Rppreciable change dn rates. Sterling ex-
change was steady in spite of the ad-
vance to per cent. in the Bank of Eng
lands rate of discount No further en-
gagements of gold for import are an
nounced, but they are considered likely
before the week closes, and the sharp
fall i'm the rate of exchange on Paris
Heads to the superstition that the next
Shipments will be from there. The trade
statement for September issued by the
government makes DIT likely that the ex-
cess OF exports over imports for that
month will be found ito aggregate $685.
100000, against nearly SAL 100000 for Au-
gust and over SIT 900 900 for July. The
delayed cotton movement, which has mot
yet attained It's full force, insures an
additional heavy trade balance in favor
of this country for the current month";
The movement of gold for a season is
therefore considered to be very heavy,
unless the rates for money in foreign
financial circles shah advance so far as
ito make it mare profitable then to draw
ON foreign credit for gold shipments.
The bond market was marrow and the
tone was weak, though fluctuations
were unimportant. Total sales 81, 480, 900.
United States old as were advanced 1sc
bid.
The total sales of stocks today were
S91 $50 shares, including Atchison, pre-
ferred Il, 1S0; Chesapeake and Ohio, pre-
ferred S,130; Burlington 1880; Louis
willie and Nashville 1850; Missouri Pa
cic S,737; M. K. and T., preferred, TO-
$50; Northern Pacific preferred 10,643;
Reading $3.50; Rock Island 14907; st.
Paul 36,55S; Union Pacific 12,010; Bay
State Gas 5,445; Chicago Gas 1880; Su-
gar 81, O42; Western Union 5,075; Chicago
Great Western 11.145.
Money on call steady at 2A@3 per
cent; last loan per cent; closed 21aQ
8 per cent
Prime mercantile paper 1905 per cent.
Sterling exchange steady with actual
business in bankers bills at $4.S4s4 for
demand and at $4.S1A@s4S2 for sixty
days.
Posted rates s4.S21a@s4SSh and s4.S5
@$4S5h.
Commercial bills $4.S11s.
Silver certificates 57k@5Sc.
Bar silver 57Ac.
Mexican dollars 44c.
Government bonds firm.
State bonds dull
Railroad bonds weak.
STOCKS.
Closing Stocks,
Atchfson 49, ACKNOWLEDGEMENTS. 1875
Atchison preferred ......... .......... 2Sls
baltimore and OHIO .......... ........... 15l2
Canada Pacific commencement. 81
Canada Southern. 49,. ............... 54%
Central Pacific OBSERVATION-DISCLOSURES. 15h
Chesapeake and Ohio ................... PIN
Chicago and Alton. ...................- l6I
Chicago, Burlington and Quincy, 92%
Delaware, Lackawanna and WESTERN. 1913
Erie OBSERVATION-DISCLOSURES. 16
Erie preferred. ........................... Btu
Illinois Central Observation-Disclosures. 102
Lake Erie and Western .................. Is
Lake Erie and Western preferred ...... rs
Lake Shore. ACKNOWLEDGEMENTS. 171h
Louisville and Nashville. ................ 65n
Manhattan Consolidated. ... ......,... 99N