The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1897-12-30
In W all Street.

New York Dec. 29.-Sugar was the only
one of the leading stocks of the list to
SHOW any aggressive strength today, and
after rising at one time almost points,
1t was overcome by the general heaviness
IN the rest of the market and closed with
only small fractional net gain. 1t was a
professional traders market throughout,
and the Industrial stocks, which have been
recent favorites with the bull clique
showed the effect of realizing today. All
of the local traction stocks were heavy,
but the selling was not coupled with any
news and the declines were wholly tech
nical. In Manhattan the fall reached
points and in Metropolitan more than that.
Brooklyn transit advanced a fraction, but
fell again over point Consolidated Gas
is 3R points lower than last night. To-
bacco was notably active all day and rose
quite strongly on an irresponsible published
report that the quarterly dividend the
common stock had been advanced again
to per cent. Disappointed holders sold
the stock down 2 points when it became
known that the rate was retained at
per cent. New Jersey Central and the
coalers generally did not escape the weak
ness of the other specialties that showed
sharp losses. An indication of the mar
rowness of the market was the fact that
until near the close there was not single
sale OF such usually active stocks as Mis-
souri, Pacific, ETC. Burlington showed a
degree of frmness in the railway list on
buying invited by yesterdays decline. The
Buffalo Rochester and PittsbuTg stocks
were both conspicuous for strength, the
common advancing 2 points and the pre-
fcrred points. Fractional net declines
were. however, the rule in the railway
list.
Today's clearing house statement show
cd the sub treasury the debtor again to
the extent of 81 ,150 ,S39, reflection of the
additional redemptions of the Pacific
bonds Still the money market declined to
Weld its firm tone in any marked degree
and it was only in exceptional cases that
loans were below 49, per cent, and in some
cases per cent was paid. Demand sterling
also hardened a shade today. Reports
from other domestic centers show that
their bank reserve are at present unusu-
ally high, but exchanges continue to run
against New York. 1t is reported today
however, that Philadelphia and Boston had
large loans as result of the high rates
here The balances at the clearing house
show that there is quite an extensive shift
ing of loans still in progress. Prices of
Americans declined in London and selling
here for London account was quite a factor
in the decline. Activity in the bond mar
ket was confined to middle and high grade
issues, the speculative issues being stag
nant, prices generally advanced. Total
sales $1,75o,O0O.
United States old As coupon and the new
is registered were II per cent lower bid
the new As coupon Il per cent lower and
IS Is per cent lower.
Total sales of stocks today $780, 900 shares
Including Chicago, Burlington and Quincy
AS; Louisville and Nashville 100; Manhat-
tan 32.l34; Metropolitan $685. Northern Pa
cific S,0s0; do preferred 3.675; Reading A.
$50; st. Paul 1905; American Tobacco 3d.
4so; Peoples Gas. 1850; Consolidated Gas
ASS; General Electric 1890; Sugar 34,O55;
Western Union S.791.
Money on call stiff at 2h04 per cent