The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-05-05
STOCK MARKET
WAS UNCERTAIN
Sugar Most Prominent in Period
of Depression.
REST OF MARKET FOLLOWED
Railroad Bonds Showed Slightly Re-
dictionary Tone-United States
Elves Advanced One-Eighth
In the Bid Price


New York, May 4-The stock market
was weak most of the day, then rallied,
recovering part of the earlier loss and left
off with an uncertain tone with net losses
of a substantial fraction prevailing. I'm
founded rumors were rife, including
stories Of a split between prominent bull
interests at the death of q prominent
banker and statements that banks had
called loans and refused further accommo-
dations to a large interest Each of these
rumors in turn was positively denied, but
no substantial declines in stocks had been
effected. London was liberal seller. Su-
gar was most prominent in the period of
depression, dropping over 8 points, two
thirds of which was afterward recovered.
The rest Of the market followed the huc-
tuations in Sugar to some extent. The
iron and steel stocks, local transportation
shares, Anaconda and number of the
other specialties made an average supreme
drop of about 8 points, while there were
numerous declines of about 1 point With
the rally in Sugar, substantial recoverieS
occurred elsewhere, particularly in those
which were most depressed previously, and
the market thereafter became dull. Con-
soIidated Gas was well taken and rose over
3 points. Among the railways, Burlington,
which sells ex-rightS tomorrow, displayed
the most strength. There were fractional
advances in Continental Tobacco, Tennes-
see Coal and Iron and General Electric
The more prominent net declines were IN
New York Central, the Coalers, the Coal
Traction companies, Iron and Steel shares
and most of the Changers. There were
many Of the opinion that heavy liquidation
for some important interests occurred to-
day and that much of the latter strength
came from the covering of shorts.
An interest which it was reported was
seeking to reduce it's lines in it's special
ties denied that it had any speculative
ventures on foot just now. Commission
house business was said to be the smallest
for some time. Railroad bonds showed a
reactionary tendency for the greater part
of the day, but in the late trading con-
spicuous strength in Wisconsin Central
firsts and support to the other speculative
issues impaired a better tone. Total sales,
$s300,O00.
United States SIS coupon and the new As
coupon declined H. but the SIS coupon ad-
vanced sd in the bid price -.
The total sales of stocks We're 549,OOJ
shares including: American Steel and
Wire, 67,0OO; American Sugar, 1880; Ana
conda, 1890; Atchison, preferred, 5000;
Brooklyn Transit, 449OO; Burlington, 1880;
Continental Tobacco, 1900; Federal Steel,
u. 200; Louisville and Nashville, $500; Man.
haitian Consolidated, 1900; Peoples Gas
and Coke, 17,70O; Reading first preferred,
$4,000; St. Paul, 15,9OO Southern Railway,
$500; Southern, preferred, 1920; Tennessee
Coal and Iron, 6,100.
Money on call, S11k@l41h per cent; last loan,
per cent.
Prime mercantile paper, 31kd44.
Sterling exchange weak, with actual
business in bankers bills at $4.S7A@4.S71a
for demand and at $4.S5A@4s5A for sixty
days.
Posted rates. s4S61a and $4.SS1a.
Commercial bills, $4.S4%.
Silver certificates, 6112Q62.
Bar silver, 61ss
Mexican dollars, 1875.
Government bonds irregular.
State bonds steady. II III
Railroad bonds Irregular.