The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-03-03
STOCKS SHOWED
GREAT WEAKNESS
No News to Account for the
Decline.
SELLING ORDERS APPEARED
From Boston and Chicago Houses,
While London Sold More Than
Was Bought-Bond Mar
ket Bore Up Well.
SELLING ORDERS APPEARED

New York. March 2.-The stock market
displayed weakness, particularly in the
grangers, Pacifics and specialties, practi-
calIy all day, with but incidental rallies.
There was an appearance of support in
certain stocks in the final dealings, which
caused a fairly steady close, although the
grangers were still under pressure. There
was no news to account for the decline ex-
cept for a frmer tone to money, call rates
touching 3h, attributable to a call issued
preliminary to the settlement between the
Central Pacific railroad and the govern
ment.
The easier tone of sterling exchange was
O natural accompaniment of the hrmer tone
in money, indicating that increased de-
mand for money might contract the volume
of American funds now loaned abroad.
There were denials from bank officials OF
the current assertion that undue discrim-
ination was being exercised against the
industrial collateral. Selling orders APP
peared from Boston and Chicago houses
and London, while trading both moderately
took rather less stock than it sold. During
the attacks by the bears many stop loss
orders being covered accelerated the de-
cline.
While weakness affected pretty much
everything, especially heavy features were
metropolitan, Jersey Central, Pacific Mall,
Pittsburg, C. c. c. & St. L.. Rubber, and
Brooklyn Transit. American Tobacco left
off with a gain of "a on the formal action
of the directors, preliminary to the absorp
ton of the Union Tobacco company.
The bond market today bore up remark
ably well, considering the pressure against
stocks. Some issues made an aggressive
show of strength, particularly L. E. & st.
l.. IS, which rose points. Atchison ad-
justments had good backing, and the st.
Louis Southwestern issues were better
supported than for some days. Operations
elsewhere were somewhat irregular, but
there were no conspicuous losses outside of
Southern Railway 5s and Standard Rope in
come. The new Central Pacific and South
ern Pacific bonds issued in connection with
the rehabilitation of the Central Pacific
railroad were dealt in today, but ran off
from the high prices in sympathy with the
weakness OF the connecting stocks. Total
sales, 81 900.
United States IS and the IS advanced Is
In the bid price.
New York, March 2.-Money on call firm
er at 21aQ3 per cent; last loan, per
cent.
Mercantile paper, 1854 per cent.
Sterling exchange easy, with actual busi-
ness in bankers bills at $4S6Q4.S 6A for de-
mand and at s4S444.S4A for sixty days
Posted rates, S4S41aQ4.s5, and $4.S61aQ
4.S7.
Commercial bills, s4.S3@4S41A.
Silver certificates nominal, 5912@601a.
Mexican dollars, 47ss.
Government bonds strong.
State bonds inactive.
Railroad bonds irregular.
New York, March 2.-The total sales Of
stocks today were 707,SOO shares, including
1880 Atchison preferred, 54,223 Burlington,
ALSO Illinois Central, 5,765 Louisville and
Nashville, 4,O30 Missouri, Kansas and Texas
preferred, 6302 Southern preferred, $3.50
Texas and Pacific, 23,540 Tobacco, 24,6S0
Sugar and $3.50 Tennessee Coal and Iron.
Ty~t.,a l. Tl-4 o