The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-02-11
ADVANCES IN THE
LEADING STOCKS
Dealings Were for the Most Part
Professional.
~.
RAIL WAYS INCLINED TO LAG
In Early Trading, But Aggressive Buy
ing Soon Overcame the Hesitancy
Review of Stock and Bond
Market for the Week.

New York, February 1O-The market left
off with advances in the leading specialties
and prominent railways, and with the tone
unsettled The dealings were largely pro-
fessional and were in the nature of evening
up contracts over the triple holidays.
The early trading was practically feature
less. Commission houses had sent but few
orders and the trading for London account
was in very moderate volume without any
marked tendency. The railways were in
clined to sag in the early trading, st. Pauls
earnings increase of 100000 falling below ex-
pectations. Aggressive buying of Burling-
ton dissipated the early hesitancy and had
favorable influence on the market gem
orally. The coaers showed particular
strength, as did New York Central, Penn
sylvania and the grangers generally. The
usual refunding stories which lacked off,
cial confirmation were revived in connec-
ton with Burlington's strength.
Pacific Mail recovered an early decline
which was attributed to advices that the
steamship subsidy bill was unlikely to pass.
Sugar displayed strength, while Tobacco
was weak most of the day. The further
successes about Manila had a sentimentally
beneficial influence on values. Prices rose
until delivery hour, when there was brisk
selling movement, but stocks were so well
taken that rally ensued in some quarters
in the final dealings, and the market closed
over the holidays to be re-opened Tuesday
morning. Meanwhile the bank statement
will appear, and much Importance attaches
to its character.
Railroads and miscellaneous bonds were
in good request throughout the day with
gains of Importance in some issues. Total
sales $3,S50,OO0 United States old As, reg
istered, advanced Il and the 5s, registered,
rs in the bid price.
Stock prices this week were extremely
variable with a contraction in dealings
compared with the recent large volume.
Comparative prices show great irregular
ity with losses prevailing. The uprising at
Manila exerted a disturbing effect, but
spectators were Inclined to view this in
cident as assuring the ratification of the
Spanish treaty. According to the traders
view, the disposition of this matter would
be favorable to stock prices inaSmuch as
1t would remove one of the uncertainties
of the situation. Therefore, there are pur-
chases of stocks in anticipation of the sem
ate's action, although there were many con-
fusing advices as to what that would be.
London took a more optimistic view OF the
announcement that the treaty had been
ratified by the senate than that displayed
by the local traders, who, following their
custom of realizing profits on the cuimlna-
sold freely Tuesday morning, and prices re-
coded very materially.
A rally set in about noon the following
day and continued until the closing deals
of Thursday. This, in turn, was followed
by advances on Friday, co-incident with
the announcement of the second success
: of the Americans operating against the
-Filipinos The transactions for London ac-
count were pretty evenly balanced Tor the
week and tomorrow shipments from Lon
slo,, A iac W. hp1jaV06
would bring the last batch that London
had sold.
These sales in recent weeks it was cal
culated, were equal in value to about
$50 0,000 These sales resulted in easier
monetary conditions abroad, while at the
same time money appeared in abundant
supply locally, there being loans of as low
as 2 per cent. for call money. This is part
ly due to Americas receiving in part pay
ment for her large balance of trade, round
amounts of gold from Australia.
The uncertainty and hesitancy in the ear
lier part of the week may be attributed
largely to the unfavorable Interpretation
of last weeks bank statement and the
curtailment of dealings, and the uncertain
tone of the market later may be ac-
counted for by speculation as to the proba-
BILE showing of this weeks bank statement.
Notable advances for the week were Lake
Erie and Western preferred, 81; Metropoi-
tan Street Railway, 2; and Consolidated
Pittsburg, Cleveland Cincinnati, Chicago
and st. Louis, 6, the preferred 81 and in
ternational silver, 2H.
There was more stability to bond prices
than In stocks, although values of the
speculative liens f1uctuated in accord with
the stock speculative. The semi-specua-
tive issues assumed considerable promi-
nence during the week, occasional buoy
ancy of these mortgages tending to create
pronounced strength in the general mar
ket. U. S. old As registered, advanced y
and U. S. IS Is. u S. new As coupon de-
clined " and United States As registered
rs in the bid price.
New York, February 1O.-The total
sales of stocks today were 463, 100 shares;
including 1902 Atchison 1880 Atchison,
preferred; 100,995 Burlington; 3,195 Louis
Vile and Nashville; 4,67O Manhattan; Ia, $3.50
Reading, preferred; 1900 New York Gen.
trail; 1890 Rock Island; 10000 ST. Paul;
1880 Tobacco; 1900 Tennessee Coal and
Iron; 5,475 Sugar.
New York, February 10.-Money on call
steady at 2Q21a per cent; last loan, 2h:
prime mercantile paper, 2A@3h per cent;
sterling exchange steady, with actual bust
ness in bankers bills at a. S51aQ4 ssh for
demand and at 81. S311z0D4. S3A for sixty days:
posted rates, $4.S4@4.S411 and $486QD4 S6h:
commercial bills, $4.S21aGD4.S3; silver certifi-
Gates nominal, 591z@6O1s; bar silver, 594s;
Mexican dollars, ATS
Government bonds strong.
State bonds inactive.