The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1898-06-28
In wall Street

New York, June 27.-The character of the
market for securities was very little
changed today, from conditions of the
past few days.
Railroad stocks were neglected and with
few exceptions drifted to lower price
level. the. demand being insufficient to abb
sorb even the small offerings Meantime
individual specialties were taken up and
pushed forward to a higher level without
regard to the general tendency of the mar
ket in other stocks.
There was a sharp drive against Sugar
and Peoples Gas in the opening transoc-
tions which reduced their price nearly 81
per share. There was apparently pur-
pose on the part of the bears to put stop
to the upward tendency of some of the
specialties But the industrial stocks con-
tinued to be influenced entirely by indiVid-
ual causes and both Sugar and Gas were
allowed to recover. Tobacco, the Rubber
stocks Spirits. preferred, Pullman, Third
Avenue and Brooklyn Transit all showed
marked strength at one time or another,
the latter advancing to near 90 on very
heavy buying. There were Few eAcep-
tions to the heavness i'll the railroad list
the Vanderbits and Rio Grande and West
ern showing a tendency to advance 1here
was also quite an active demand for Atchi-
son preferred at small advance in price
which was explained by the publishing OF
the traffic earnings increased S4'4,oS6.'
Much of the fluctuations in stocks is I'M
doubtedly attributable to doubt of the
bearing of the war tax to go into effect
on July /, on stock sale certificates.
The decision of the internal revenue
office that all Reissues of stock certlh-
Gates, whether for transfers or merely Tor
an accumulation of holdings into one GER
tifcate are to be taxed as fresh issues, Is
considered rather onerous, and measures
for its legal evasion" are freely discussed
on the stock exchange.
One measure proposed is to deposit stock
certificates with the trust companies. The
effect of preparations for July dfsburse-
ments and also the use of money at IN
terior points for subscriptions for the gov
eminent loans had some slight effect on
the tone of the money market today. The
collection by the treasury OF checks Ior
subscriptions to the bonds of small de-
nominations is also having the effect OF re-
ducing the sub-treasury debt balance at
the clearing house. Rates for money Is
not however, appreciably changed
There was a good degree of activity In
bonds today and prices of railroad mort
cages were generally higher. Total sales
So SIS 900. .ssses
United States 5's advanced "A.
Total sales of stocks today, III 400 shares.
including 5,144 Rock Island; 1O,ol5 st. PAU
1854 Union Pacific preferred; 2,OO3 Amerl-
can Spirits; 5000 Tobacco; 7d5O Tennessee
Coal and iron; 9,olU Leather Pr -
$50 Rubber; 4,721 do preferred; 51,1l9 western
Union
Money on call steady at 1@11s per cent :
last loan, IA per cent.
Prime mercantile paper, 3a4 per cent.
Sterling exchange firm, with actual hnsl-
ness in bankers bills at &.Solad4.S Tor
demand and at s4.s4A@l.S41a for sixty days.
Posted rates, $4.s5@4S61a.
Commercial bills, s4.S3@4.s31S.
Silver certificates, 59Q60.
Bar silver. 59A. e.
Mexican dollars, As 3-5.
Government bonds irregular.
State bonds, dull.
Railroad bonds, strong.