The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-11-30
PRICE OF STOCKS
WELL SUSTAINED
Some Closing Up of Short Ac-
counts.
BOND MARKET WAS QUIET
Fractional Net Gains Are the Rule and
They Rise to Point or Over
in Anew Exception
al Cases.

New York, November 29.-Prices of stocks
were on the whole well sustained today in
spite of some factors making for reaction.
Chief of these was the continued hardness
of the money market, the further slump in
Leather and the movement to take profits
in the trunk line stocks which have advance
ed SO aggressively for some time past This
profit taking movement was the nearest
to official confirma ton that could be had of
the numerous published reports and rumors
of consolidation of control of the great
trunk lines Those favored with advance
information of such project would natur-
ally be sellers when the news became pub
lie property, and brought in outside buy
ers.
A good proportion of todays outside buy
ers thus invited, operated by cable orders
from London. Americans shared in the gen.
eral strength in that market on account
of reports of British military successes
against the Beers.
Buying for London account was the main
stay of the market and the spotty strength
displayed here and there by individual
stocks, many of them obscure, kept the mar
ket firm in face of the uneasiness over the
money outlook. Tomorrow's holiday also
prompted some closing up of short accounts
While London's buying was the main sus-
tanning factor the further hardening in the
London money rate and fears of an advance
in the Bank of England rate tomorrow dis
couraged operations for the long account
The demand for money kept the rate at
per cent. and above until it had been most
ly satisfied when it fell below 4 per cent in
the late dealings and the stock market
hardened in response. The sub-treasurys
disbursements on account of bond redemp-
tons were considerably below 3d. 900, and
the treasury statement from Washington
showed the days revenue receipts nearly
81 1000 in excess of expenditures.
As this is the last day for which the
treasury department offers to redeem bonds
holds good, the total disbursements for re-
demption are but little over half the amount
of the total offered. The feeling is general
in Wall street that the period will be ex-
tended and the acceptance will drag some
what during next week.
A further decline in New York exchange
at Chicago to 80 cents discount against 20
cents yesterday, and a downward move
ment in New York exchange at other do
nestle centers' were again the supposition
that New York Is gaining this week on in
terror movement as was the case last week.
Fractional net gains are the rule in stocks
and they Use to point or over in only a
few exceptional cases.
The bond market was quiet and prices
showed some Improvement as the day pro-
crossed. The sales of the day, par value,
were 81 100000 United States 3s advanced
Is in the bid price.
New York, November 29.-Money on call
closed easier at 3@7 per cent; last loan at
per cent, ruling rate at per cent. Prime
mercantile paper, 51s@6 per cent. Sterling
exchange was steady, with actual business
in bankers bills at 4.S57s@4.S6 for demand
and at 4.S0%@l4.S1 for so days; posted rates,
4S21@4.S7; commercial bills, 4.S0h.
Silver certificates, 5Sa4@59hc.
Bar silver, 59Ac. ..
Mexican dollars, 47Hc.
Government bonds were strong.
State bonds were inactive.
Railroad bonds were firm.