The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1897-10-20
In Wall Street.

New York, Od: 19.-The undertope of
today's market was one Of strength
throughout. The volume of transa ctions
was not large and there were prolonged
periods of dullness when trading was
especially stagnant but the improvement
was manifest. The market had evidently
turned professional operators to under
take movement for a rise today. The
break in the price of Pullman, due to the
news of the death of the head OF the
company, limited operations in this Stock
for a time, but the rise of the general
LIST i'm spite of the break in Pullman
and of marked weakness in Chicago gas
and the strong support which was Offer
ed the Pullman stock encouraged the
bull operators to renew their campaign
in an aggressive way late in the after
noon. The result was that the shorts
were driven to cover and prices Through
out the list mounted strongly upward to
. point generally above last night
siose. The strength of the market de-
veloped first in the Vanderbilts. Michl-
gan Central was the sensational feature
in the group with jump of 59s points,
but nearly all these properties includDlg
Northwestern and Omaha were quite
bouyant and closed with net gains OF
to points. Sugar and Chicago Gas
ranged over nearly three points and
covering of shorts in these stocks on the
rise was am important element in the
strength of the markdt. Dealings IN
Pullman were on a very large scare
AMID over a range of IA points. In estl-
mating the Significance of this move
ment it is to be considered that the stock
jumped yesterday 3A points on small
transaction such as often affects an IN
vestment stock. The close tonight Is
only a half point below the price ruling
before yesterdays sale All the news
of the day continued favorable, railroad
earning cor1 inujng to show iSnprovem, mt.
Louisville was notable exception with
decrease in earnings of $7,700 for the
second week in October, due to continued
interruption by yellow fever quarantine.
London continued TO be a good buyer
Jim the New York market and in fact
Offered The principal support during the
early trading. The exchange market
showed a distincHvely firmer tendency
though the only announcement of gold
from Europe was the withdrawal for
shipment to the United States of $4,000
pounds DIN gold from the Bank of Eng
land. Gold, however, is in transit from
money market continued easy and out
side banks continued to take large
amount of commercial paper in this mar
ket "A feature of the bond market was
the sale of two blocks of $4,000 and 100,-
900 respectively of Union Pacific collater-
al 6's at unchanged prices
Dealings in bonds were not ON large
scale, but prices generally showed i'm
provement. Total sales, $1,600,000.
U. S. new As registered advanced 1sc
bid and the 5s declined nc.
The total sales of stocks today were
2S1, 800 shares, including Cincinnati,
Burlington and Quincy, 1885, Louis
willie and Nashville, 1905; Missouri Pa
ciffc 1905; New York Central, 10,475;
Northern Pacific, preferred, 1912; Read
ing, $3.50; st. Paul. 29,91O; Union Pacific,
1886; Chicago Gas, 30165; Pullman, 49,
629; Sugar, 36,125; Chicago Great West
ern, $500.
Money en- call easy at 2A@2A per cent;
last loan, 21kia; closed, 2A@21s per cent.
Prime mercantile paper, 4@5k per
cent.
Sterling exchange firm, with actual
business in bankers bills at $4.S41a for
demand and at $4S2@4S2A for sixty
days.
Posted rates. s4.SsM@4 Ss1a, and $4S5
@4.851a.
Commercial bills. s4s1K
Silver certificates, ssh.
Mexican dollars, 44%
Government bonds Irregular.
State bonds dull.