The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-10-14
BEARS IN CONTROL
OF STOCK MARKET
Tobacco Easily the Leader in
Point of Activity
CALL LOANS WERE EASIER
Persistent Weakness OF Brooklyn Rapid
Transit Bonds Moderately Active
With Sales at Par Value
Amounting to $1,765,ooo
CALL LOANS WERE EASIER

New York, October 13.-The temper of
speculation was determinedly bearish to-
day and favorable incidents were persist
emily ignored. The reactionary spirit found
its chief vent by selling Brooklyn Transit.
Tobacco stock was easily the leader of the
market in point of activity, and although
the dealings did not reach the high water
mark of a few weeks ago, the unsupported
condition of the stock and the large blocks
offered suggested resumption of late con-
ditions.
Metropolitan Street Railway seemed to
show acute sympathy. Manhattan was Et-
tie affected and the New York gas stocks
were firm. There We're some wide move
ments in not usually prominent stocks.
New York Air Brake fell points and the
Flower group as a Whole, except Rock Is
land was weak in sympathy with Brooklyn
Transit. Offerings of Sugar and Tobacco
we're greater than could be absorbed and
both stocks declined sharply. The American
Mailing stocks also were depressed, tne
common losing 2k and the preferred Z. The
industr3as were more affected than the
railways Laclede Gas rose conspicuously
points and Great Northern preferred over
a point.
The market seemed rather firm for time
curing the DOTIlhuS, Dul lnt pcISiSlcHl
weakness of Brooklyn Transit broke
through uhe resistance.
Call loans were easier against the maxi
mum rate, not exceeding 5R per cent, and
the majority of the days loans being made
at per cent. or below. Preliminary esti-
mates Of the weeks movements of money
give prospect of a slightly improved eondi-
ton in tomorrows bank statement. The
disbursements of cash 10y the Sub-treaSury
on account of government payments have
almost offset its receipts on account of rev.
enues. But THE banks have deposited at
THE sub-treasury for telegraphic transfer
to the interior 81 052,0OO. The heavy outward
movement early in the week has been partly
offset by large receipts later in the week.
This would Indicate loss the interior
movement of about s2,500,000. Against this
there have been receipts of 50 800, 900 of for
eign gold and about $750,0O0 by cashing of
drafts eff the San Francisco mint on the
sub-treasury, making a total of about 3d.
100000 This would indicate a net gain to
the cash reserves of the banks of over ST.
o0000o The banks further reduced their
aoans, SO that there Is fair prospect of
moderate increase in the surplus reserves.
The first payment of anticipated interest
on government bonds will be made on Mon--
day, but the prospects do not Indicate that
the application will be made on a large
scale, although this payment is without
rebate.
The bond market was moderately active,
but price changes were mixed. Total sales,
par value, $1,765000 United States 3s de-
ciined Is and the new As advanced N in
the bid price.
New York, October 13.-Money on call
slightly easier at 4@5h per cent; last loan,
AZ per cent.
Prime mercantile paper, 51s@6 per cent.
Sterling exchange easier with actual busi-
ness in bankers bills at $4S65s6i4 $685. for
demand and s4s22s@4S21s for sixty days.
Posted rates, s4.S31a and $4.S7h
Commercial bills, $IS1lA.
Silver certifica ties, 5SM59.
Bar silver, 5S1s
Mexican dollars, A.
Government bonds irregular.
State bonds inactive.
Railroad bonds irregular.
lBY Private Mira To Talhntt e Palr1,arN