Birmingham state herald., 1897-05-20
JORDAN & co.
n Wnll Efrnn

n Wall Ffren-
 New York May 19-The firmness shown by many standard shares in the rather stormy Vicisstudes of today's stock market was quite remarkable considering the eX- istenc5 of two such centers of depression as New Jersey Central all day and Chicago Gas in the late dealings after the receipt of Esws of the defeat ill the Illinois legls-fl. ture of the bill permitting consolidation oe gas companies. To estipatc the extent Of the influence that might have been eXer- csed upon the general market by these two stocks it must be considered that they ap- sorbed over S1,000 out of total of l5o,0OO shares dealt in on the exchange for the day, Chicago Gas alone being eredited Hath 63 bu0 shares. A large proportion or these sales were made in the last hour and a half Of trading and enormous blocks of stocks were unloaded with precipitated eagerEess which had been bought in the confident conviction that the consolidated bill would succeed. The price which had advanced a per cent. with no check to the decline ,af- til the lowest point was reached, when there was feeble rally.T he demoralization In this stock was in fair way to break the whole market and did in fact carry prices generally below the close last night and wipng out the gains of the early part of the many prices back near to last nights close or fractionally above it. New Jersey Cen. tral was a center of depression ailday ana sold off 3ss with only a fractional rally at the close, carving with it Delaware and Hudson, which lost 1B. Reading and Lack awana however, showed net gain gain on i1,a,a the - point in Sugar and Manhattan and 1A in Tobacco and 15s in Tennessee Coal and Iron. There were other loses in the i st st pet e es rneg on a level with last nights closing The days trading, though still narrow, was fgapeb marRed Based par, on tSe ter imitation of the war between Turkey and Greece and partly to conviction arrived at by public opinion in the stret by its own processes of reasoning that the admins tra- tion at Washington has determined against any radical steps in regard to Cuba. The outward gold movement is no longer view edwith such marked apprehension as at first on account of the evidences that It vii be restricted to moderate proportions There was slight hardening tendency. to exchange during the day, showing. that bills were being. slowly absorbed in spite of very large demand: The gold exports however are expected to be small. A rise of 134 in the price of St. Louis and San Francisco first preferred on rumors of an approaching dividend declaration was one Western preferred also rose 1h. but lost most of the advance. The total sales ss, x.f Of shares. including American Sugar refinerv, 5,6OO: Burlington and Quincy. 14,S00s Chi cago Gas. 62.7G0: Delaware and Hudson, D. 900; St. Paul, 1,0OO; Tennessee Coal and
 Railway and miscellaneous bonds were without essential change in value, although a decidedly firm undertone was apparent! Business was moderate with operations largely restricted to the prominent issue.
 Money M is,s'I on can, easy at 1Ad1h per cent; last loan, 1lA per cent; closel 1h@1la per cent Prime mercantile ,paner, $s,Isa4 per cent Sterling exchange steady, with actual business in bankers bills at S4S7Ad$42s for demand and at-s4s6ts6s4.Ss14 for sixty days Posted rates, $4.S7 and s4.SSds4. .SS1a. Com mercial bills S4.s5AM$i.s51a Silver oertif- cates 60a6lhc Bar silver. GOA. Mexican dollars, 47asc.
 Government bonds, easier.
 State bonds, dull.
 Railroad bonds, firm.