The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1898-04-29


again quite restricted and largely local.
Reports of cold weather in the south helped
the advance. August rose to GIT and closed
steady We favor sales on all good
bulges. RIORDAN & co.
In Wall Street
New York, April 2S.-The stock market
was generally dull with intervals of ac-
tivity. There was no outside interest and
buying was due to the initiative of one to
two prominent operators who distributed
orders with liberal hand all through the
active list. They had following through
the small room traders. The buying was
based on the confident assumption that the
approaching engagement off the Phillip
pines would result in favor of the United
States forces and would be good for a 5
point rise in active stocks
= The slight declines at the opening due to
the heaviness of the London market were
quickly overcome. Excellent traffic state
ments of the grangers were also factors in
the strength and they led the advance in
the railroad list No doubt the distinctly
easier tone in the money market contribute
ed to the awakening of the speculative
spirit. The friendly consultation yester-
day between the secretary of the treasury
ana number of prominent financerS and
1t found its reflection today in feeling of
confidence that needs of the United States
treasury could be met without inconyen-
fence to the money market
Call money was quite abundant today and
loans were made as low as ~ per cent.
Rates for time loans were quotably lower
at from 51a to 6 per cent for all periods
1t is significant that the lenders hold out
for long periods at existing rates, while
borrowers want money for not more than
sixty days.
In Spita of siay- oopdifiops IN, y,orax, for
eign exchange yielded a fraction today. The
keen demand abroad for food stuffs Is MAX
ing exchange all the time and the pros
poets of the foreign money markets point to
higher discount rate. The demand for
exchange by the government to pay for
war material also has ceased. Shipments
of money continued to the interior, but in
small volume.
There was some increase of activity In the
bond market, but 1t was confined almost en-
tirely to the speculative issues which
showed higher prices in sympathy with
stocks. Total sales $1,025,00O. United
States new as registered advanced u and
the old As registered Il.
Speculation today was of disappointing
proportions and without sensational fea-
lures. Opening steady, with prices I'M
changed to 2 lower, moved slowly, but
showed rally of to points on reports
of a better feeling on Wall street and indi-
cations of better conditions in England as
claimed by later public and private cables.
The market was finally steady at a net
gain of to points Total sales, futures,
1880.
Total sales of stocks today, ITS 100 shares,
including 1875 Burlington; 3,O95 Metropoli-
tan; 1856 New York Centrall 3,115 Northern
Pacific; 1920 do preferred; 7,765 Rock ISL
and; 3,764 st. Paul; 1889 Union Pacific pre-
ferred; 5,962 Tobacco; S,142 Peoples Gas;
AZ, $50 Sugar
Money on call steady at 1921 per cent,
last loan, IL per cent.
Prime mercantile paper, 6q7 per cent.
Sterling exchange easier, with actual bus
mess in bankers bills at $4S4h@484a for
demand and SASH for sixty days.
Posted rates, $4.S2 and $S5k@486.
y Commercial bills, s4.S0k.
- Silver certificates, 57A@5S.
Bar silver, 81.
Mexican dollars, 4512.
Government bonds, irregular.
State bonds dull. :
Railroad bonds strong.
BY Private Wire to Paine. Murphy G Co.
3 2 s 9