The age-herald., 1897-09-25
Cotton Letter

tGoLt0n Letter
 New York, Sept. 24.-There was prac- tically no net change Tn cotton prices today. Liverpool this morning again furnished a surprise. This time the cables from that market were unexpect- edly favorable, reporting prices there one sixty-fourth higher In spite of this good dispatch our market displayed no strsngth and opened only three points up. The trading was largely local, but Liverpool sent some buying orders here The movement for the week turned out slightly under the expectations currsnt for the last day or two. At one time prices were four points above last night, but selling orders were always plentiful and the advance was lost. Jan uary opened at 6.53. advanced to 6.54. declined ito 6.49, rallied again to e.54 and closed at $50 to 6.51, with the tone of the market steady. It looks as if any advance at present must be forced by a brisk demand for spot cotton in the south. RIORDAN 6 co.
 In Wall Street.
 New York, Sept. 4.-The .reaetionary spirit resumed fulf' Sway today in the stock market after "a brief period of higher prices during the morning, due to sympathy with Sugar, which ad- vanced at one time to two points over last nights close. Sugars strength was due to. the belief that the treasury de- partnient would decide that Holland was in effect paying an export bounty on sugar, and that countervafling duty would therefore apply to Dutch re- fined sugars. The rise in Sugar, and some strength manifested by Manhat- tan served to raise the general level of prices to fractional extent, but proved inadequate to sustain them, and the fall for the remainder of the day was practically continuous, though mole rapid at times than others. There was nothing in the news of the day to ac- count for the decline, all the reports of railroad earnings continuing to show large increases, and advices of the growth of business activity being uni formly encouraging from all points. The outside public, however, had apparent ly ceased to buy, and the large bull op- orators were no longer willing to accept the heavy offerings of stocks made to them. Profit takings were the order of the day. The market was dull com pared with recently, but the confidence was unchecked. Tine situation of the money market continued to attract in- terest. The features were the firmness of call money on the basis of 8 per cent and considerable activity in the time money market. The exchange market also hardened. actual rates advancing about fl in response to the gold ship ments now on the way to this country. Remittances to the interior have contin-. ued on a. large scale, and tomorrow bank statement Is expected to show large additional decrease in the sur plus reserve. The banks and the sub treasury have been able to meet all de- mands thus far for currency, but the demand upon them is large and promises to increase. The treasury at Washing ton found itself unable to accede to the request of a local banking firm, which had received a consignment of gold at San Francisco to it's credit, to be al- lowed to withdraw legal tenders from the sub treasury in New York upon the deposit of the gold in San Francisco. The stocks of soft coal roads which have failed to share in the improve ment, owing to the miners strike, show ed some activity today, and were con- paratively steady. The net loss has run all the way from a fraction to two points, the latter Consolidated Gas, but in the large majority of active shares 1t is between one and two points.
 The total sales of stocks today were 521 900 shanes, including Atchison pre- ferred, 12,151; Chesapeake and Ohio, G. 03O; Hocising Valley, 6,770; Louisville and Nashville, 15,120 Manhattan, 11,690; Missouri Pacific, 14.45O; Northern Pa cifc, S,250; do. preferred, 18,120; Read ing, 19.920; Rock Island, 2,55o; St. Paul. 36,720; St. Paul and Omaha, 5,7O0; Union Pacific, 41,021; American Tobacco. 10.- 0l6; Bay State Gas, 23,1S0; Chicago Gas, 9.100; Consolidated Gas, 2,700; Sugar. I0,4io; Western Union, 11,9s3; Chicago Great Western, 1S,625.
 Bonds were weak In sympathy with stocks on greatly diminished volume or transactions. Total sales, $170Z 900; United States As, registered, were 1M higher bid and the As A higher
 Money on call firm at 21S@D3 per cent; last loan, 21A per cent; closed. 2k per cent.
 Prime mercantile paper, 4A@5 per cent.
 Sterling exchange firm, with actual business in bankers bills at s4.S5 for de- inand and at $i.S21s@4.82% for sixty days.
 Posted rutes s4Ss@4s4 and a.s5H@ $4365&.
 Commercial bills, $4s1.
 Silver certificates, 57H@58c.
 Bar silver, SIC.
 Mexican dollars 43hc.
 Government bonds strong.
 State bonds dulJ
 Railroad bonds weak.
 Petroleum, Pennsylvania crude, nom- inally S5c.