The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1898-02-08
In w all Straaf

New York, Feb. 7.-Today's market for
stocks suffered from the burden of real
izing sales and from bear pressure due to
the irudescene of the Cuban scare There
were special elements of weakness in ad-
diton. The Union Pacific securities were
heavy on account of the announced de-
termination of the government to operate
the Kansas Pacific under a receivership
and to seek to postpone the sales of that
property. The Kansas Pacific consols
opened off 3A per cent. on the strength of
this, but the buying at the decline was
very heavy and aggressive and reassurng
reports were given out that this security
was not likely to be deprived of it's right
of exchange with the reorganized Union
Pacific securities.
This apparently failed to rally the stocks
of the company, and they were heavy all
day, the preferred going off at one time
1ss and the common a point
Missouri Pacific showed a recurrence of
its recent weakness and declined at one
time point below Saturdays close.
Lake Shore, New York Central, Northern
Pacific preferred and other recent favor
ties showed the effect of continuation Of
profit taking. The Coalers and the
Changers were in the main heavy, North
west being an exception. Northwest pre-
ferred showed a gain of S1s over the last
transaction. Quite number of stocks
showed gains at the opening, but as
rule subsequent declines wiped them all
out A few stocks were conspicuous Tor
very vigorous movements This was nota-
bly, the case with Metropolitan Street Rail-
wav. which was at one time aA above
SATURDAYS close, but which reacted 1ss.
Norfolk and Western preferred was quite
strong all day and advanced at one time
3sb reacting a fraction on. pront taxing.
Michigan Central also renewed It's inter-
rupted advance and is Ia per cent higher
fo rthe day. There were some sharp gains
also in the usually inactive high priced Sc
curities.
,rha feverish and unsettled condition OF
tba local corporations was noticeapie III
tho closing dealings. Although the STOCK
I,ar,,et was not lacking in activity anu III
forest. the bond department continued 10
ahsorb n large share of attention and 10
chow great strength. There were some nve
senarate single, transactions in blocks OF
a mar value of 500, 900 or over. Three OF
tbase were in Atchison adjustment Tours,
tho total dealings in which footed up for
the day s1.o97 900. The recovery In Kan
cos Pacific consols to 11O1s brought out
block of 100000, which was taken by one
dealer. There was $4,000 block OF the
new Union Pacific tours sold during the
dav Norfolk and Western consols fours
were active and strong Numerous sharp
gains are recorded all through the bond
list. Total sales. s6,55o.OOO.
United States IS were u higher and the
As. both old and new, were u higher bid.
Total sales of stocks today were 42l,ooo
shares, including Atchison preferred, To-
O2o: Burlington %, $40; Lake Erie and West
ern. $500; L. & NJ, 5.491; Manhattan, 4,o70;
Metropolitan, 1O,aeO; Michigan Central. 1857;
Hawaiian, $40; Missouri Pacific, s,675; New
York Central 1928; Northwestern, 3,122;
Northern Pacific, 1885, Northern Pacific
preferred 1925; Rock Island, 4,o56; st.
Paul 22O90; Southern preferred, $3.50; To-
bacco. $3.50; Chicago Great Western, 1900:
General Electric. 1868; Sugar, 2S,Soi; Leath-
er preferred, 1880; Western Union, 1850.
Money on call easy at TX per cent; last
loan, ~ per cent.
Prime mercantile paper 344 per cent.
Sterling exchange strong, with actual
business in bankers bills at $4S5l4dLS5s