The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-05-17
THE STOCK MARKET
REMARKABLY QUIET
Very Few Bear Spectators Were
in Evidence.
THE BOND PRICES ADVANCED
Tendency Along the Line Was Marked
Total Sales $3,77o, 900 United
States Threes Declined One
Eighth in the Bid Price.

New York, May 16.-Today's stock mar
ket was remarkably quiet after the recent
excitement the total sales being little more
than half the numbers of shares sold
during the panicky two hours of Satur-
day. Apparently there was no such thing
as bear speculator in existence, but with
the exception of slight iEregularity in.
prices at the opening and a slight relaxa-
tion in values in the last hour of the mar
ket the course of prices was steadily held
or moved increasingly upwards.
This was rather contrary to the general
tend downward in the absence of buying
by shorts who were largely closed out by
yesterdays RISE and with a less strenuous
support from the powerful alliance of capt.
talists who come to the rescue of the mar
ket. This combination was thought to be
simply for the purpose of sustaining the
market again against any precipitated at
tempt at liquidation.
The bull movement which the late Mr..
Flower and his associates had inaugurated
previous to his death was felt to be bold
under existing conditions and its contin-
uanee in full force was hardly looked Tor.
Under the circumstances, there seemed a
fair probability that some of the uncertaiH-
ties incident to the season might cause a
reaetionary tendency for a time, but the
professional traders after the early trans
actions took the long side of the market
and there was an uninterrupted absorption
of an extremely varied list of stocks
throughout the day.
Any interruption to the advance threw
the market into lethargy and nothing but
a resumption of the rise brought any ac-
tivity. London was scarcely factor
fIN arl-a hnf4
lected on account of uneasiness over the
situation in China. A slight hardening in
the rate of exchange had no other explana-
ton than this same uneasiness. Money IN
New York, however, worked decidedly
easier under the influences of reports from
the interior. The money market benefited
from yesterdays payment of the final in
staIlment to Spain ON account of the Phil
ippine purchase.
The Flower stocks, especially Peoples
Gas and Brooklyn Transit, enjoyed the
greatest advance in the day, but there
were notable advances also in the stocks of
other New York municipal corporations, on
the prospect of extending the franchise bill
Stocks of the various iron companies were
strong and there was activity and strength
in Chicago Terminal.
In the railway list, Southern and Central
Pacific rose nearly 8 per cent. on belief
of a beneficial effect of the reorganization
of the system. Sugar is up points on the
gain.
The closing was near the top and firm,
but quiet
The advancing tendency of prices was
marked also in the bond department
There was a heavy absorption of Rock
Island Fours and the Atchfson adjustment
Fours and Wisconsin Central frsts were
also strong and active. Total sales
SO, 10, 900.
United States IS declined Is in the bid
price.
The total sales of stocks today amounted
TO 446,S15 shares, including American Steel
and Wire, Is, 400; American Sugar $50;
American Tobacco, 1920; Atheism pre-
ferred, 200; Brooklyn Rapid Transit, ST.
200; Central Pacific, 1890; Burlington, H.
600; Continental Tobacco, IA 1000; Federal
Steel, 1850; Manhattan Consolidated H.
600 Metropolitan Street Railway, 1880;
Peoples Gas, %, 800; ST. Paul, Is 800; South
ern Pacific, 49, 00 Tennessee Coal and Iron,
$500; Union Pacific, $500.
New York May 16.-Money on call steady
al 2l2q4 per cent; last loan at 21s per cent
Prime mercantile paper at 31a@4A per cent
Sterling exchange firm, with actual BUSH
ness in bankers bills at 4,S70e4. 87A for de-
mand, and at 4.S5@4 .S5A for sixty days.
posted rates, 4.86G4. 86la and 4.SSlh. Com
mercial bills, 4.S404. S415 Silver certificates
61A@62c. Bar silver, 61Ac. Mexican dollar s,
4S%c.
Government bonds easy.
State bonds inactive.
Railroad bonds strong
to ira to OH