The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1898-04-17


New York, April 16-Evening Posts Lon
don financial cablegram says:
Pending the result of the vote ON the Gu
ban resolution in the senate the markets
here are dull and stupid.
Consols are today y q u per cent. lower.
Americans were from half to one dol
lar lower with no business doing, the mar
ket simply following Wall street. Spanish
fours were about 42R. Cables from New
York report an impression in that market
that Americans are chiefly manipulated
now from London. This must not be con-
fused with operation by English specua-
tors. Such manipulation exists here is
on behalf of New York operators.
The money market was easier today.
New York April 16.-The Financier says:
Despite the heavy and continued demand
for funds from the interior the clearing
house banks this week were able not only
to hold their own in the way of cash. but
added over two millions to surplus
serves, making the latter item the largest
reported since Jan. 1. In the light of pres
ent events the statement must be regarded
as favorable since 1t reveals the wonderful
ly strong position of the banks. Ordinari-
ly 1t would mean lower money rates this
week, but unless pacific settlement of the
Spanish crisis presents itself no such re-
duction may be anticipated.
The country has now imported or en-
gagged over $50 ,000, 900 of gold, but the New
York banks today hold only 100000 more
cash than when the movement started.
The specie received has merely replaced
the Withdrawals by interior banks, and it is
a problem whether the future demand on
New York will be as heavy as anticipated.
Domestic exchange Is at a heavy dis
count at interior cities and from all that
can be learned the cash withdrawn is not
being employed at home The outlook IA
vors continued imports of gold and these,
xuit haaUv disbursements being made DV
the treasury may operate to produce an
easier state of affairs. 1t would not be
surprising If present rates proved to be the
maximum for the year. The country has so
much money that 1t Is prepared to meet
expenditures of an extraordinary magni-
tude without embarrassment. The trouble
now is that this is now being boarded
rather than put into use.
Dry Goods
New York, April 1.-THE week in dry
goods has been more satisfactory in Its ten
denotes If not in it's actual results Sell
ers have found that buyers willing to
make concessions in order to clean up
stocks which will be useless in a few weeks.
In fact, such class has shown an easier
dealing tendency and generally better
feeling prevails. The actual business pass
ing has been small and irregular from day
to day.
Print cloths have sold fairly well, but not
well enough to equal the output at Fall
River The quotation is still 2 cents for
extras, with limited demand recorded.
New Y ork Cotton Market.
New York, April 16-There was a sharp
squeeze of shorts in the cotton market to-
day directly due to strong Liverpool cables
and a sudden hardening Of spot cotton,
both at this point and the south. From
start to finish the bulls were in control,
and at one time the bears were bordering
on decentralization. The feature of the
transactions was renewed interest of COM
mission houses which for some weeks have
been out of the market On the opening
call the market was firm, with prices to
points higher. Buying was about evenly
divided between local shorts, southern ard
foreign firms and commission houses. Al
ter advancing to a net gain of car points
there was partial reaction under profit
taking The close was steady at net gain
of 400 points. Trading was active
throughout, and the total sales were 49,
$50 Sales represent an exceptionally large
business for Saturday.
New York. April 16.-Cotton steady; mid
ding, 5-16; net receipts, 507 bales; gross
receipts, 1910; forwarded, ZIG; sales. 1,106;
spinners, SOC; stock, 1S5, 500.
Total today and consolidated: Net re-
ceipts L, S76 bales; exports to Great Britain,
$500; to France. 5000; to the continent. L.
804; stock, GSS211.