The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1897-10-21
Inewall Stree,

lower. RIORDAN & CO.
InrWali Stree. ~ 80
New York, Oct 20-Todays market
looked very much as though an effort
was being made to test it for rise.
The bears made an abortive effort early
in the day to raid The market and direct
ed an attack against Chicago gas and
Sugar. The failure of the raid encouraged
the bulls to renewed action and there
was indications of a re-appearance in
the market of some large buying inter-
eSts which were prominent in the late
rise of the market. This professional
buying carried prices up quite strongly
net advances throughout The list rang
ing from 1 to 8 poirits. But the bulls
were apparently satisfied with a sharp
turn and they commenced to sell to
realize profits about half an hour before
the close. This carried prices down IN
some cases below lasl. nights close ard
where net gains recnan ed they were in
almost all cases fractional. The success
of the bears was frustrated in part ow-
ing to the special strength in Sugar and
Chicago gas upon which they relied to
work Sympa thetic decline in the bal
ance of THE list. Sugar was strong ON
the decision of the treasury department
to hold Dutch refined sugars condition
ally Fable to the countervaling duty
which applies to imported sugars upon
which am export bounty is paid. Chicago
gas derived strength from rumors of
compromise with the threatened compe-
tition. The market showed considerable
activity as compared with the last few
days, but was sill almost purely profess
sional. London changed from it's recent
attitude and sold stocks here. Additions
al reports of railway earnings for the
second week in Oct all show handsome
increases and many vague runors were
ahoat of still more striking improve
ments to be shown In statements not rs
sued yet. The large movement of cotton
along lines recently released from quar-
antine restrictions was shown by reports.
and gave strength TO the railroads af-
ected. The exchange market continued
firm and THE local money market easy.
Some business is being dome in the
placing of loans on long sterling which
is In effect the lending of money abroad.
This ma tunally tends to keep up the rate
of exchange. The continued ease of the
London money market and the large re-
source in hand by inferior banks owing
ito the large payment of debts following
the crop movement, are the inducements
for thus deferring the movement of gold
this way.
Bonds were strong in sympathy with
stocks. One 250,OO0 block of Union Pa
cific collateral trust notes was sold at
SO and another block of 100000 at the
same price. Total sales $2,325,000.
U. s. new as advanced 14c bid, and The
IS coupon declined hc bid.
The total sales of stocks today were
402200 shares, including Atchison pre-
ferred. $40; Chicago. Burlington ard
Quincy, 27,170; Louisville and Nashville,
14,36S; Manhattan 81" 16,600; Missouri
Pacific, 24,590; New York Central, 11,80S;
Northern Pacific, preferred II 1856; Rock
Island, 1928; st. Paul, 27,770; st. Paul
and Omaha, 1850; Union Pacific, T. r.
second assessment paid 9.07S; Wabash
preferred, 1900; American Tobacco, H.
1913 Bay State Gas. $50; Chicago Gas.
3s4S0; Sugar, 39,291 Tennessee Coal, Iron
and Railroad company, 5.225; Chicago
Great Western, 11,135.
Money ON call steady at 2@2h per
cent; last loan, az per cent; closed 2A@
21s per cent.
Prime mercantile paper, 4@4A PSF
cent.
Sterling exchange firm, with actual
business in bankers bills at $4.S4A484h
for demand, and at $4S2@4.S2A for sixty
days.
Posted rates, s4.S2A@4SS1a and s4.S5h
Commercial bills, SASH.
Silver certificates, $4,000.
lBar silver 59Ac.
Mexican dollars. ASK.
Government bonds strong.
State bonds dull.
RaiIfood hands strong