Birmingham state herald., 1897-05-30
In Wall Etreet.


 New York, May 29.-Those traders who availed themselves of an opportunity late yesterday to cover short contracts for fear of q crush of those bent on a similar mis- sion, today were wise in their generation The. rise in prices in the general list this week have been sufficient to have invited extensive profits taking at the end Of any week for months past But sales to take profits were at minimum today and exer- cised no marked effect on prices, which held steady near the highest until the close of trading. The shorts on the contrary show ed feeling of unrest over the indications of strength in the market and manifested their unWillingness, under the crcum- stances to carry over short contracts until next Tuesday, at which time trading IS t1 special factors served to encourage the buy ing of stocks, besides the increased con- dsafe e tha 6gse who bought TOT stocks gave as their motive the tone of the speech delivered by Secretary of the Treasury Gage yesterday, especially his expression of confidence that the tariff bill would be dis posed of at. nearly day and his bread in tination that some measure of currency re- form would then be put forward by the ad- ministrati6n, Some renewal of the buying for foreign account which was feature of the early days of the week also added strength to the market.
 The dealings were remarkably well dis tributed. the number of stocks whose shares were sold being much larger than for some time. The more noteworthy gains at the high point were: Illinois, Central 2a4; Tobacco, 11a: Lead, 1as; Canada South ferred. Pullman and Reading Is preferred point each. There was some realizing in New Jersey Central. but it's net less was only ss. Cleceland, Cincinnati. Chicago and St Louis4eeontipue6 heavy and lost 3H. closing, a 24.ss Lake Shore advanced to l61
 etnariet .forstocks and bonds has been notably firm and strong all the week, d.
 though the dealings. were a good deal de. pressed at times TfA duliness came at times of TieaNiness. in the market, indicating the disposition of holders to welt for better was only interrupted by the influence Of special depressing causes from time to time, suoh as the unexpected volume of tne go.a the Rubber shares on account of the re. tirement of provisions and the feeling of ment of the Baltimore and Ohio default cn the interest payments due June l on some Of the company's bonds. These reactionary m fiuences proved inadequate to overcome the encouraging factors at work and the result has been a bull market for the week. The evcnt to which Wall street attributes the greater part of stheeimproved tone of trad ing Is the taking up of the tarin bill in the senate, the dernonstrated intention or all parties to linterpose no factious opposition to it's passage and the result foreshadowed by the votes on ,conmittee amendments that no time is. to be lost in settling ths' whole ma atter.a various statistical estimates of the present activity in general business accomDanied by the argument that the volume of bus.- ness at present is equal to that in some of the most pEespfr2ns years in the ,o eountrys as not to be evident in estimates of trans actions by valuation.
 The broadening of. business activity Is felt nevertheless to findicate an improving ten- dartcy in business conditions.
 The bond market displayed a fair degree Of animation during the week. with a mark ed tendency towards a higher plane iap- parent Purchasea for cont mental account were in oonsidrr9b,e volume and imrarted decided strength to the internati ticnal liens
 Some heavine~ss deyelored in the inactive securities in which special conditions oper- atrd" aab eAN
 r'The general market pursued an almost un- intsrrupte9 course ,,pwsrd and closed at the foij price for the leading mortgages. The fran ga ctionr ers,firsnnd an pxtaps've variety Of ,hords with the gilt edge properties gen eraIly recording substantial improvements U The more confident speculative tenner iil- f1nannad renewed ,nvestment buying, hut irchn1ed round amounts for middle grade iseues. ~
 GovArnmeut hcrs's ruled hrrn throughout on rnoder-ate dfSsIfrgs. Tho total saler .rf stcotrs today -vte~d 7sn siiq-ee irnI,,d'r,y 'ffT6 ra'rhprrfst. 'Th cago Gas 10sAn: National. -Tsrad s Seos Rock Tsland aaa: St. Paul. 14;- epo. Sre-- r~-,th-, rsa,,trnl e'ane Ls .8Jrrqr np gall. errv at -HSs,'l r-~ crn..: last loan, f15; closed at fH@1h per cent