The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1898-12-04
In Wall street.

New York, December 3.-There was no
marked change in the character OF the
stock market today from that which has
prevailed for several days past. Activity
was for the most part confined to the
specalties and the exetreme range In the
prices of many railroad stocks did not ex-
coed hcQAc. 49, London was a seller OF
American again, though the rate for money
was easier at that center in spite of an adj.
ditional withdrawal of over $1,3OO,O0O in gold
from the Bank of England presumably for.
shipment to Germany London's offer of.
some stocks here were fairly well absorbed
The Changers were remarkably dull and,
sluggish in spite of the st. Paul statement
for the fourth week in November, showing
a level of earnings, notwithstanding the
bad weather prevailing never before ex-
ceeded except in 1892. There was slight
pressure of realizing sales in Northern,
Union and Central Pacific, but In the case,
of the latter there was a subsequent re-,
bound of 15sc. Sugar dropped sharp frsse-
ton at the opening on rumors OF further,
reduction in the price of the product, hutl
this speciality afterwards moved strongly
upwards on covering of shorts Pacincj
Mail was also a strong feature and moved;
UP to 403sc the business outlook for the.
company. Metropolitan Street Railway.
continued its upward course above all pre-
vious high records, while Manhattan moved:
in a contrary direction the movement being
the result of traders Interpretation of the
revived talk of rapid transit system There,
was resumption of the upward movementl
in Federal Steel, preferred, and apparently
sympathetic advances in Tennessee Coal
and Colorado fuel
The decrease in surplus reserve shown In
the bank statement was due to increased!
requirement on account of the deposit IN;
crease. The increase in loans is attributAdi
in large part to the resumption of the ex@
change money abroad, process which in-l
wolves borrowing ON sterling exchange col
lateral as an INCIDENT { -
Perhaps the slight reactionary tendency;
towards the close of the week Is fostered by.
fears that traffic returns for the fourth
week in November, to. be published next.
week, will show unfavorable effects from
the stormy weather. The events of the
week in the International exchange market
have given new and convincing evidence of
the strength of this countrys financial poe
sition. The decline in discount rates abroad
early in the week will put out the margin
OF the profits between the interest rates
abroad and those prevailing here. @1
The heavy contracts for steel rails indf-,
cate coming period of railroad improves.
ment and extension, and there are numer-.
Gus schemes for consolidation and organi-a
cation of greSt industries constantly being
foated in Wall street. Among those for
the week are corporations in silver plating,
thread, tin plates, linseed OIL Photographic
cameras, etc., reqdfrtng many millions for
the process of fnanctering.
In the bond market the course of prices
has been continually upward on a large and
well distributed volume of business United.
States rs and 3s and the new As and the;
6s registered have advanced " and the old
as and 5's coupon u in the bid price. -
New York, December 3-The total soIa,
of stocks today were 1911, 700 shares. INCLUDE
ing the following: Atchison preferred.
42OO; Louisville and Nashville, 6,52O; Nam.
haitian, 1850; Metropolitan Street Railway.
1850; Northern Pacific, 1880; st. PAU.
1900; Southern Railway, AGO. Southern
preferred, 13,SSS; Federal Steel preferred,
u,511; Pacific Mail, 150S0; Sugar, 27.239
Tennessee Coal and Iron, 1890
By Private Wire to Paine, Murphy q. Coz :