The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-05-10
STOCK MARKET
TAKES BIG SLUMP
DemOralIzsd By Liquidation Both Vol
untaFy and Forced.
BEARS ROUTED ALL GOMERS
Brooklyn Transit and the "FlOEer"
Stocks Take Dip.
EVERYTHING WAS INCLUDED
EVERYTHING WAS INCLUDE
Tennessee Coal and Iron Went Down
to SO and Closed at SO Ia
Long Bull Campaign
AT An End.

New York. May 9.-The stock market to-
day was demoralized by liquidation both
voluntary and forced, and values melted
away with large interests apparently
pathetic.
Marginal accounts were wiped out and
nothing escaped the furious decline. The
continuance of bear pressure disheartened
many and in shaking many commission
house accounts. The market was devoid
of general news features, but local stocks
reflected for fear as to the probable effect
of the Ford franchise tax bill, which was
the general belief would be signed tomor-
row London purchased some 5000 shares
rendering an easier tone to sterling ex-
change, and acting as the sustaining factor
in the early dealings. Money on call was
strong, ranging from S1s to 6, the latter
being the quotation of the last loan.
Standard shares were thrown over in
some instances to protect specialties that
were receding at an alarming rate. The
forenoon show of strength tempted re-
newal of short pressure, and liquidation
which was practically continuous. Among
the weakest points were the Flower
stocks, which had risen the most during
suffered net loss of 5A, New York Air
Brake 12h and Peoples Gas over points.
Others declines among the specalties were
American Tobacco IA, sugar and steel hoop,
1c; Metropolitan, 6; Consolidated Tobacco
preferred, Az; Manhattan, Al National
Steel and Consolidated Gas, 3. The rail-
ways suffered from l to points loss and
there were so many other weak spots that
the enumeration would be tedious. The
bear faction was constantly on the alert
for vulnerable points and stop-loss orders
were freely uncovered. In some quarters
the expectation was entertained that the
government crop report to be issued to-
morrow would show little improvement in
the winter crop.
The sub-treasury's debit balance of over
$1O0 100000 is the largest since 1890. The
closing of the market was weak, but
finally prices were well above the lowest
: the total transactions for the day having
been considerably over 100000 shares.
There was few issues in the bond market
which ignored the downward tendency of
the semi-speculative mortgages whose
losses, however, did not exceed fractional
proportions. Total sales, $3,125,O0o.
United States IS, the old As registered
and the IS advanced * in the bid price.
Total sales today were 1 OBS, 1873 shares, in
GLIDING: American Smelling, $500; Ameri-
can Southwestern, 1900; American Sugar,
$4,000; American Tin Plate, 4,500; American
Tobacco 400; Anaconda, $500; Atchison,
S,000 Atchison, preferred, 100000; Baltimore
and Ohio, preferred 3400; Brooklyn
Transit III 500; Chicago, Burlington and
Quincy rights, $780, Chicago Great West
ern, 400; Big Four, 1900; Consolidated
Cas- 1900; Consolidated Tobacco, 400; Con-
solidated Tobacco, preferred, 1850; Federal
Steel 81 100; Federal Steel preferred, 1900:
International Paper, 9,400; Louisville and
Nashville, 2,400; Manhattan "a 600; Metro
politan, 1906 Missouri Pacific, 1880; Ma
tional Steel, 1920; New York Central,
10000 Ontario and Western, 100; North
ern Pacific 5000; Pennsylvania, 1900;
Peoples Gas, "a 800; Reading first preferred,
1890; Rock Island, Il 700; st. Paul. $4,000;
Southern Railway, preferred, 7,100 South
ern Pacific, 900; Tennessee Coal, Iron and
Railroad company, 1890; Texas Pacific,
400; Union Pacific 10000; Union Pacific,
preferred, 1920; United States Leather
preferred, 400; United States Rubber, 3,40O;
Western Union, 5,400.
Money on call firmer, 1906 per cent; last
loan, per cent.
Prime mercantile paper, 31ka4A per cent.
Sterling exchange weak, with actual
business in bankers bills at "a. S70D4 .S7A for
demand and at "a. Sad. ssh for sixty days.
Posted rates, $4.S6@4. S61a and $3.50
4SS1a.
Commercial bills, 1874.
Silver certificates, 61A@62%
Bar silver, 61B.
Mexican dollars, 48%.
Government bonds strong.
State bonds steady.
Railroad bonds irregular.