Birmingham state herald., 1897-06-18
lnWnll StreeA.


 that any advance just now will be but temporary. RIORDAN & co. 7.
 5nWniI Stree4.sss
 New York, June 17-The strong upward tendency of prices for securities was re- the reactionary tendency Of the last two days. A powerful group of professional traders have been selling out their holdings during the two previous cays to rea4i4e profits. They have coupled this ma nouevre with the expression of the convic- tion that the market would proys heathier continuance of steady advance. The reaction has not been caused by any general an indication of the above fact has been largely the result of manipulation with u view to keeping up its tonef Yesterdays selling was accompanied by some expreS- sions of apprehension regarding possible foreign complications growing out Hof the Hawaiian annexation proJect,3 But ,,these approximations were heard no more today. The reaction had not reached serious pro- portions and the offerings to realize have indicate either that the large operators have completed the takings Of tbeiF lprofius have found the market too firm to effect a marked reaction. Thre were equally as large buyers again today as yesterday and all the smaller buyers focked s- to thefr leadership to swell the demand for stocks. All the operations seemed to be. directed against the leading stocks in which the strong upward movement of three weeks ago started and which have been for some time stationary, while the bull campaign was relegated to other groups. The market today was largely professional, commissions houses not being conspicuously- In evidence This class of buying has diminished during the reaction of the previous two days as was to be exepected. Operations for the foreign account were also of small diman-e sions, London being engrossed with jubilee festivities though some selling for London was done early in the day. Prices for Americans were lower in London ana fhfs worked an early decline for the 'intefrfa+ tionals here, which was practically the only exception to the uninterrupteds advance of the whole market all day, except few profit taking sales at the close. The small lines of short selling whichs were put out to cover today, and added to the strong fac tors in the market. Some of the Specialtics enjoyed the benefit of special influences, and this also added to the strength of the mar ket St. Paul was the leader of the mar ket in volume of transactions with over B. 900 shares Chicago Gas, Buriin yton and eSu- gar coming next in the order named. St Paul was retarded by London selling, Tut was ttrong on the second week 5 s,atcncn. showing an increase Of nearly '3l.J9o Tn the earnings, the largest for the. rorrespnn1irg z period since 1893. Des Moines and Fort Dodge preferred jumped s per cent. on the announcement of tho devidend of 6 per cent The total sales of stocks today were 25Q.1U shares, including American Sugar. N,5DU: 26, 400; Louisville and Nashville, 5,200: Man hattan con nsolidated, 1900; Northwest, 7,50o; Northern Pacific preferred II 300; Rock ls- hand 12, 800; St. Paul. S1, 100; Western Union. 5000.
 The bond market. continued to display marked strength, which was most manifest substantial fractions were made in the ac- tive securities, while some of the gilt-edged mortgages were conspicuous for material gains. Tho aggregate sales were 1.2S7 .00o
 Money on call easy at tm1A per cent: last loan per cent; closing offered at per cent.
 Prime mercantile paper, 3fl4 per. cent,
 Sterling exchange, firm, with actual ss5l bust ness In bankers bills at $tS7aStS7lz for de- mand ard at s4. .SsIs! sais for. sixty days
 rSmrnarcjal biils. S 95E r #s
 Silver certificates, 5a1aG61c. ssa
 Bar silver s0iAc. -=4fx
 Mexican dollars 4Tssc. s'A
 Government bonds firm.
 e,tnte bonds anll 3r
 Railroad bonds strong. ~ xs "a. s
 Closing Sucks: ki N ss Ae s Aichison .'.-'.''' s', l s..s<...' io Adams Express. ............t.s. 1ou Alton, Terre Haute .'....... '... so American Express: :........,- ..,....,.-.a. IT ! Baltimore and Ohio........s.-s4.,....... ..... sllh Canada Pacihe....... r.....''..'........' siM Canada Southern ............,..... oV { tbesapeake and Ohio....... .,a.......sr rl7Ns essso cfssso 'nd F%ripefon h1aGp and isi consolidated Gas...........;.s s s.s. :. II 5ies Distillers and Cattle Feeders. rs..........,ss,..s-- Erie............,....a a..... ...............t I31 Erie preferred; .''.....'.-s~y..r..es. a5 55 2 Lake Erie and Western .......,........ 14M Lake Erie and Western pretcrred ... 655 Lake Shofe.-...,....- ,ss.r tr.f ...t.- Louisville and Nashville. ..... ......-.. 4sss Louisville. New Albany and Chicago, "a Manhattan Consolidated.. .s .........s SIN Memphis and Charleston .. "A e.s...s.. ,. MichigDn Central. I...................,....,. .Ss9 Mobile and Ohio .A.R..a.... 20ss ssLville. Chattanooga and St. Lous.. e6 United States Cordhee.. ., Ts'.'.s. United states Cordaee preferred. ...s..ss.s. < New Jersey Centrai....' ..,............. s2t2 Norfolk and Western preferred "A M..... 29A Northern Pa cfiic ..... ...... =. 14r Northern Pacific preferred, .........qs A2 4. NoIthwestern s,Ll ......... =. 11JiaS Northwestern preferred ............ 15s New York Central ... :. .s-.t ....i....... 1o1 New ork and New England ........... 37 Y Pacific Mail......,......ss...4 M .4............r,i29 Reading .-....................... 2Iss Rock Islanu. 70t3 St. Pau,.- ..-...,...........,...... !8As St. Paul preferred ss...l 4HG4; Tennessee Coal and Iron n................. 24S issas Paci6c. S" any ...'.............. io% ss.s s.ss !.