The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1897-12-21

New York Dec. 20.-There were few
spasmodic efforts to continue the rise of
Saturday today but the stock market fell
back into a decline and failed to recuper-
ate. The aggressive strength of some of
the specialties at the opening served to sus-
tain the market for time and to give it
an appearance of strength, but realizing
sales in the general list went hand in hand
with the manipulation for rise in special
ties, and even the stocks which had shown
wide gains lost practically all after the
large operators had taken their profits in
the general list. The coalers were strong
as a group on account of the growing be-
lief in an agreement to restrict production
and to keep up prices. They were also
helped by the cold weather and the con-
sequent increased demand for the product
New Jersey Central was at one time 2
points higher and Reading first preferred
rose to near So. Sugar crossed 140 during
the day. Manipulation of the Pittsburg,
Chicago, Cincinnati and st. Louis stocks
advanced, the common 3h and the prefer
red 21a per cent Consolidated Gas was also
points higher at time None of the
gains were entirely held and some of them
were practically wiped out. Union Pacific
was another stock that enjoyed a percent
age of strength in the late dealings, but 1t
also reacted. Kansas City, Pittsburg and
Gulf, which is not usually very conspicu-
Gus, attracted attention today by a sudden
break of something over 4 points and as
sudden a recovery of almost all the de-
clines. The first mortgage bonds of the
company reflected the weakness of the
stock, though not to as marked degree
There was no news to account for the &C.
ton of the stock. The contradiction of
Saturday mornings report of withdrawal
of gold from the Bank of England for
shipment to New York had much to do
with the termination of the rally which
set in Saturday.
The conditions in the money market con-
tinued to dominate the trading the
stock market and the rise in call loans to
4@5 per cent in the late trading today
checked the hopes of those spectators
who thought there were awakening signs
on account of the rise in money rates of
imports of specie. No doubt is felt that
the large trade balance in our favor is
a sufficient guarantee against money leav-
ing New York. But it is thought
per cent rate in call money will result in
a movement of specie in view of the ex-
listing high rate for money in London and
in European centers. There is not much
prospect of easier money until after the
first of the year and in that time halt
in speculative activity in securities is felt
to be probable. In what is known as the
outside market Standard OIL liquidation
certificates were active and strong there
by, and sold as high as 34S1a.
The bond market was not as active as
of late but prices held firm with the ex-
ception of some of the speculative bonds.
Total sales, $1,50O,O 900.
United States As of 1925 and 1927 were
u lower bid today.
Total sales of stocks today, 73,4O0 shares,
including Atchison preferred, 3S75; c. B.
& O., 2O,292; L. & N, $685.; Metropolitan
street railway 300; Manhattan 1850;
New Jersey Central, 1890; Northern Pacific,
10 300; do preferred, 1881; Ontario & Wes--
tern, s,7eO; Reading, 10,410; Rock Island,
1875: st. Paul. 1926; Union Pacific, 3510;
Chicago Great Western, 9,71O Peoples Gas
1850; Sugar, Al, 150
Money on call 21k@4 per cent; last loan
3 per cent; closed 21a93 per cent.
Prime mercantile paper, 31s@419 per cent.
Sterling exchange easier with actual bus
mess in bankers bills at $4.S47s@4.S5 for
demand and at $4s17s@4S2h for sixty days.
Posted rates $4.S3G4.SS1z and s4S6d4 S6la.
Commercial bills $4Slk.
Silver certificates 561kq5IAc.
Bar silver 521zc.
Mexican. dollars 4512c.
Government bonds weak.
State bonds dull.
Railroad bonds firm.