Birmingham state herald., 1897-06-09
n Wei Stree

New York, June 8.-The tone of -today's market for stocks was distinctly .rsaetioh- ary throughout though not to marked ex- tent. The testimony taoi hrd mfwy hrtll tent. The tendency was made the more marked by the failure of the market to rally with any degree of -vigor under the strong impetuous of the upward bound of sugar. This failure was them notable on account of the great stress laid by the traders in stocks hitherto on the early dis sage of a bilL a corfsummation which seems appreciably advanced by today's action of the republican senators caucus. The heay- fest influence towards reaction came from London though there were other clements of weakness in the market which must be bought American securities in this snlsrloet while the London excharlge was cfosed for the Whitsuntide holidays on Saturday and the confidence that London would be buy CT at advancing prices upon resuming trad- ing today. On the contrary London showed an inclination to realize on earlier purchases of our securities and prices in consequence, declined this morning in London. This dis position to realize was g., aceehtnated ny the on the London exchange commef1ced today. Private traders have been considerably in- fiuenced by an attack by the Times upon the United States government finances nd financial policy. The stocks bought here for London account in the two days of trati- ing were left without a profitable market and were offered for sale here agadn. A All the internat ational stocks reacted under this state of affairs. The traders sought to prIe- cipitate he reaction which they have be- neved was more than due and there was heavy profit taking and sere. evidence of short selling of newly vrconfident sont.,
 Sugar was strong all morning. oBs Wash ington advices foreshadowirgiot the action of ti1e senate caucus on the sugar schedule of the tariff bill, but 1t surged upward with a bound when the formal 2decfsion of the caucus and the terms of the. substitute be- came known. The extreme. rise was fss and the close was only slightly befowa gthAt. The preferred gained 1%.iA phe. change of long and shorts buying ind,Ieed enerfuolls transactions in this stocle the totaF sales for the day numbering over s0s00n s1aresj olit of 2. total of all sales Of bout e89sf9h sharas The grangers were sold to thlSe rpF6fi ts a nd to some eYtent on the belief that crops hate been damaged in the nortbwests sManhat- tan and Western Union tended quite strong fv upward at one timeD5Ipnn tbeo action pf the officials In decidihes tn declare the. reg- 1iIar quarterly dividends tof IA pe1 scert on the former and 1A narg centGj onithe slatter stpck But both sold off sateus on the ,ali- nonncement that Wesf1Tn1 ltTni isnu had ls11d se eOo.O0O of additional stocks from the treas- and closing at net losses. In the general list small losses were, general. HeiHa
 Total sales of stock far the day ar1otfntef to ee0 200 shares inclnfin q Areesictan S,iEhr ae coo Burlington and Quincy 12 800. Chfcako Gas 1q nnN icseneral Fs7erfric & 40a TsoIiisy'iis and shNville 8.30a. Nafnhattap g7ons ,Nest1,- Rock Island a GOO. sfs Tss1 15nM rs,sr as seN Coal and Iron 5.aoo, Western Union t5.- 900s svsfI 6 10 esssRai:so sy&G frse7 9sf@cE
 The bond market didsnot nsrt3cibate sr trading ,exesAt for a Few iee,ses n which special consA5etations onerated % NeA~ slS ha-sv cos,sr,s fr1ist receipts Ms@se,irf cos,- als ;,.,.; and Ts,,ssse s, eosl tys+ per cent each. while Illinois .csptraf trust