The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1897-12-09
In Wall Street.

New York. Dec S.-The stock market
opened this morning with tremendous
show of animation and vigorous tenden-
CIV and gains became UNIFORM pretty
much throughout the lis9 1t was eVf-
dent that the strength displayed by the
market yesterday had brought orders
to nhe commission houses to buy stock.
There was also buying for London &C
count for the first time in several days.
the advance in prices apparently fali-
ing to tempt arbitrage brokers TO seh.
Their purchases of ST. Paul were large
and they also bough Union Pacific, but
there were sales of Louisville and Atch-
ison for Londsan account. Sugar was the
one exception in the strength of the
market at the opening, but lis losses
soon widened to liquidation in either
stocks in the marker. Yesterdays ru-
NOR of am extra dividend was discred-
,ited this morning, and yes. erday's gam
was in consequence completely wiped out
before the announcement of the regular
dividend. The stock was feverish all
day, closing at a INST loss of AS Total
sales, nearly 10000 shares ConsoA-
dated Gas was also a mark for the
reaouonie1 s. and dropped at one time
AZ points The rusult was that the
market was kept unsettled all day.
When the general advance came to a
stop dullness interviewed, and there
were frequent rallies Early in the fnal
hour prices of many stocks were ait the
best, but the final drop in Sugar again
weakened prices all around and left net
gains confined to fractions in almosa all
cases. Union Pacific was heavy ON ac-
count Of the steps taken by the gov
ernmerJt to qualify as a bidder at the
Kansas Pacific sale. Other stocks in
clined TO heaviness were Western I'm
ion. Manhattan Metropolitan Street
railway and New York Central North
ern Pacific continued the advance which
was begun yesterday on rumors of an
approaching dividend and rose at ore
time ia. Tobacco also developed la.e
strength, but reacted before the close.
C. c. C. & st. Louis enjoyed the benefit
of a favorable statement of earnings fer
the fourth week in November
The activity displayed by the bond
market was quite remarkable, sales for
the first hour approaching one and
three-quarter millions of dollars in par
value and breaking the record for one
hours business. There was some de-
crease in activity later in the day, but
the tone of the market continued strong
and prices of number of bonds of the
middle grade moved up from one to two
points. Some of the high grade bonds
showed heavy gains Total sales, $4,250,-
900.
United States old AS registered de-
chned n and do coupons bid, but the SIS
rose "A bid, the new As coupon sold at
1923. which is higher than ever before.
Total sales stocks, 435,000 shares.
Atchson preferred, II ,020; Chicago, Bur-
lington and Quincy, 27,0S0; Chesapeake
and Ohio 500; Louisville and Nashville,
1226O; Manhattan 7,447; Missouri Pacific,
1885, M. K. and t., preferred, 4,250;
New Jersey Central, $685. Northern Pa
cifc. 1852; do preferred, 1906; North
west terminal, 3.400; Read ng, 4,245; Rock
Island, 17,015; SIT. Louis and San Fran
cisco, 3,221; st. Paul, 940S5; Southern
Railway preferred, LIPS; Union Pacific,
1915; Wabash, preferred, 1876; Ameri-
can Tobacco, 3S,020; Bay State Gas, $3.50;
Chicago Great Western, 1886 Peoples
Gas, 1920; La Clede Gas, $3.50; Sugar,
119.OSO.
Money on call easy at HOP per cent;
last loan, 2 per cent; closed 1hQ2 per
cent
Prime mercantile paper 3A@4 per
cent.
Sterling exchange weak, with actual
business in bankers bills at $4S5A a
s4S5ss for demand and ait s4S21a@s4. S2%
for sixty days.
Posted rates, s4.SS1k@s4S4 and $4S61s@
$4S7.
Commercial bills, $4S2A.
Silver certificates, 591s@60c.
Bar silver, 59Ac.
Mexican dollars 46%c.
Government bonds firm.
State bonds dull.
Railroad bonds strong.
SHOCKS il II