Birmingham state herald., 1897-05-28
In W all Street.

New York, May 27.-The market was quite strong for time today, but the rather sen large selling in Baltimore and Ohio put stop to the rise and also to the activity Of the trading The volume & or the trdn deanngs f n ter the noon hour was only about one-third of that for the two hours before noon. The lack of confidence in the stability of values on the part of professional traders, who still control the market almost altogether, was illustrated by the promptitude with rather slight provocation. Those who are doing the bulk of the trading are evidently in the market for short turn, though there was some continuance today of the commits sion house buying which nas indicated a weakening of outside interest in the market. The fall in the Rubber shares was coupled with a rumor that it was caused by liquida- tion of interests retiring on account Of the dechnation of a reelection by President out the sales reaching an extraordinary volume. After an extreme decline Of SIS Tor the common stock andfA for the preferred, common closing at 12 and the preferred at COZ. All the securities of the Baltimore and Ohio that were dea.t in showed heaviness on the belief that the company will default in its June interest payments, which, in cluding interest on both bonds and receiv- CTS certificates, amount to about $6O0,000. The stock fell 11a and rallied only the frac- ton. Of the bonds the tives of 1925 sold ten points off;reglstered, eight points, and the incidents served to depress values some what on re-hearing of arguments on the or der enjoinng the summons to coal railroad presidents to answer charges of conspiracy under the antitrust law. This hearing was postponed without notably relieving the coal shares from pressure. Some sentiment al effect was eXerted on Sugar stocks by the trial of the president of the company for contempt of the senate. but the dismissal of the case at Washington yielded no substan- tial benefit to the stock. The market was remark -by dull with periods of decline London appeared to be ready buyer Of nearly all the international stocks when tai purchases for London account were estl- mated at 12 GOO shares. The net changes in prices are narrow but are mostly losses, some few stocks showing gains which reached a. point in the cases of Michigan central ana Erie first preferred 4
 The total sales of stocks for. the day amounted to 136 593 shares including Amer ican Sugar refinery, 12,6O0 Burlington and Quincy 2, 100; Chicago Gas 12,90O; St. Paul. IT. 7s9: Western Union. 5.60o
 The railway and miscellaneous bond mar ket was characterized by violent fuctua- tions in a number of cases, including the Baltimore and Ohio liens, which are else where referred to, and c. and N. F. firsts which receeded 3% per cent. Marked strength was noted in some of the promi nent isues. which was attributed to liberal purchase for continental account. The sales were $1, ,239, coo.
 elast loan 1A closed at 1A@1ls per cent i. Prime mercantile paper, 319M4 per cent.
 Sterling exchange weak with actual busi- ness in bankers hills at st.S6a1 MSiS. for de- mand and at s4. S5si as4.Se for sixty days ] Posted rates, $4.S61aG4.S and $i.SSdp4SSls.
 Commercial blls $4S5. , |.
 Silver certificates, 601sd60la.
 Bar silver 60c.
 Mexican dollars, 47Ac.
 Government bonds, strong.
 State bonds, firm.