Birmingham state herald., 1897-06-17
Wril -1a

New York June 16.-Today was marked by continuation of heavy profit tak jSIlg which was a feature of yesterdays trading and though the day closes with the prices of many of the most prominent stocks below yesterdays closing prices, the average de- cline is small, showing good resistance to- the large selling. There were times during the day when prices rose sharply above yesterdays closing, but the higher level invited realizing in each instafice There was continuance of the goods commission. house buying which had been feature for some time past, and which sustains values with remarkable firmness. The short in- terest however, seems practically elimihat- ed from the market and the need of this element which usually srve to strngthen an upward movement, were not a factor. The utter dullness of the dealings in London on account of the jubilee festivities also withdrew a stimulating factor. The an nouncement that Japan had filed a protest at Washington against the annexation of Hawaii now in process of negotiation, had an influence of selling to some. extent, though this influence was largely senti- mental. The movement of special stocks had sympathetic effect on the market, which was more important thanthat of gen7s eral conditions. Sugar was strong on the. votes of yesterday disposing of the sugar schedule, but it was later depressed on the news that the treaty for the annexation of Hawaii had been signed by Secretary Sher- man and the Hawaiian representative. The selling on this news was based on the sprc- sumption that the sugar eompanM would derive no benefit from the abrogation of. the Hawaiian reciprocity treaty and the i'm position of a tariff on Hawaiian sugar.
 Chicago Gas was also very heavy and showed the effect of large purchases by in side interests. The early advance was prac- tically wiped out by the latter selling move ment The extreme range of these, two stocks was a fraction over a point The transactions in them absorbed fully one third of the total sales. The Coalers ad- vanced early, Delaware and Hudson to the extent of a point, but the bears opened their batteries upon the group quite fercsly and worked recessions in New Jersey Central of two points, Delaware and Hudson, 1M and Reading shares nearly a point. Leather preferred advanced quite strongly, 1H but reacted subsequently. Cleyeland,s Chicago and St. Louis preferred broke to, s. com. pared with 70 the last sale. This. stock is very inactive and the fall Is due.to the pass ing of the dividend. The early advances were fractional and the decline were enough in each case to leave fractional net lossesf throughout the list The decline extended to point or over in Northwest, Louisville and Nashville Missouri Pacific, Tennessee Coal, St: Louis and San Francisco second preferred St. Joseph and Grand Island pre- ferred and La Clede preferred. IF net. =. =. .. shares, including American Sugar. 46.0O0; Burlington and Quincy, 14400; Chicago Gas, S1 400; Louisville and Nashville. 6,6O0; North west, 5600; Northern Pacific, $, 400; Reading, 5.1OO; St Paul, F, POO; Western Union, f.fe0; New Jersey Central 7,70o.
 The bond market, displayed little feature. the values were we'll sustained for the lead- Ing shares during the greater part of the day with some less active securities, con-, spicuous for material improvement.ssInzt n ztbe lower in sympathy with the heaviness of the shane speculation. Sales. $,126,00O
 Governments were quiet but firm. The transactions were S12,000 9e-@
 Money on call easy at 1G1H per cent: last loan per cent; closing offered at1 per cent
 Prime mercantile paper, BOA per cent.
 Sterling exchange, dull and steady, with actual business in bankers bills at s4.S7A for demand and s4. 4.S5zsm4.S6 for sixty days.
 Posted rates, $4. .S61adS4@ and s4SS.
 Commercial bills. S S5h
 Silver certificates. 60hG60asc if.t flss'
 Bar silver 60hc. ssita.E e-Et at
 Mexican dollars, 47Ac.
 Government bonds firm.
 State bonds dull. .-Hle= lt tl.t....51
 Railway bonds firm. A ,,.,+ .,-.,4,g
 xaI-- L.