The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1897-10-29
In Wall Street.

New York, Oct. 2S-Today's stock mar
ket was exclusively in the hands of the
professional kraders and contained Moth
ing of significance in its bearing on the
general condition of the country. The
market was inactive and the movement
of prices was sluggish. Trading was al
most stagnant ait LINES. The traders
did the best they could to influence
prices by manipulative buying and sell
ing and by Instrumentation as news or
rumors of their respective hopes ana
fears. The only response of any moment
was shown in special cases, wi h slight
sentimental effect on the general list, but
the professionals were unable to induce
any following and in meeting their
earlier contracts carried prices back TO
near THE starting point. One OH uhe
special stocks affected was Pacific Mail,
which declined at one time "a on ac-
count of the decline in earnings shown
by it's September statement. The stock
recovered to WI hin a fraction of last
nights close. Sugar, after a substantial
gain, fell 21s points, but also recovered to
a net decline of a fraction. The COaleis
as a group were weak on the nsatisfac-
tory condl ION of trade. Notwithstalld-
ing recoyeries near the close their net
Losses were a point or over. The gain
carrvinp roads on the other hand dis
played firmness which was principally
dine TO roseate forecasts of the Septem-
Der earnings of Burlington, The state
ment of which is yet to be published.
nv reason of this influence railroads
generally are a. fraction higher, except
some southern roads and the Coalers,
while the Indus,trials and specialties are
generally lower. There is sill some dis
position to advance fears of the Cuban
question as a motive for the selling.
Union Palcific was less active and was
uncertain in its movement on account or
doubts of just what changes in the plans
of the reorganization committee are IN
yolyed in the advanced bid to the gov
eminent. The doubt applies not only to
the plan of financing the new company,
but to the ug Innate disposition OF the
Kansas division which the committee
processes itself willing to relinquish to
the government so far as the SUBSIDIZED
portion is concerned. The aock closed
"a higher The arrangements for the
payment to the government and OF the
governments payment of bonds coming
due on Jan. 1 are as far as possible SO as
not to take SO large an amoum" OF money
out of the market. The sum to be paad
to the government will considerably ex-
coed that to be paid old- on this account
but the continued excess of dlsourse-
ments over receipts in the dally opera
tons of TIE treasury will help TO make
,his UP. 1t is believed that any marked
effect on the cost of money VIII thus De
avoided
Central of Georgia second incomes de-
,f,-1 ;taon a n0lnt.
Kansas and Texas issues were weak
Dealings were not on large scare
Total sales $1,5So,O0O.
limited States 5s were advanced Is bid.
The total sales of stocks today were
1900 shares including the following:
Atchison, preferred, $500; Chicago, Bur-
lington and Quincy, 2o,9S5; LOUISVILLE ana
Nashville. 100; Missouri Pacific, $3.50;
Northern Pacific, preferred 1857; Rock
Island. 600; st. Paul, 27,90O; Union Pa
cific, 25,s6O; Chicago Gas, 21.17O; Pacific
Mail, 6,S77; Sugar, 31,144; Tennessee Coal
and Iron, 5,7O7; Chicago and Great West
ern, $3.50.
Money on call easy at 1902 per cent;
last loan 2 per cent; closing 1902 per
cent
Prime mercantile paper 3A@4h per
cent
Sterling exchange steady with actual
business in bankers bills at $4.S5B@
1851 for demand and at $4.SaM @4.S23s
for sixty days.
Commercial bills, $4.S1Q4s1h.
Bar silver, $3.50.
Mexican dollars,e45c.
Government bonds firm.
State bonds dull.
Railroad bonds heavy.