The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-04-16
The SPECIALTIES
WERE VERY STRONG
Rising Tendency Extended All
Through the List
MONEY CONTINUED EASY
Review of the Transactions of the
Week-Prices for Bonds Inn
proved, But Movement Hes
itating at Times

New York, April 15.-The industrial spe-
ealties were very strong today, and the
rising tendency, particularly after the APP
pearance of the bank statement, extended
throughout the list, with the coalers prom
inent.
The money continued easy, and the bank
statement, with an increase in nearly four
and one-half million dollars in surplus re-
serve and nearly three million dollars in
cash and a contraction Of over ten million
dollars in loans, had a very stimulating ef-
feet. Large realization, however, was noted
by SPECTATORS, who had bought in ex-
pectation of favorable statement.
The favorable turn of the Samoan dir
fcuty and the weekly statement of trade,
which noted a general condition of pros
perity, were factors in re-arousing conf
depee. Spots of especial strength were
Delaware and Hudson, Manhattan, Colo
RADIO Fuel and Iron, Brooklyn Rapid Tran
sit Peoples Gas and Continental Tobacco.
Just before the close the professional ele-
ment started a raid on the idea that the
recent recovery had been too rapid, but
they succeeded in making only slight
impression on values.
Stocks were somewhat irregular early in
tho week, but gradually recuperated, thus
dispelling the uneasiness engendered by the
industrials of last week. Brooklyn Rapid
Transit, which was most prominent in the
recent decline, again reached its best pre-
vious price. The railways moved with
comparatively narrow range, waverng in
sympathy with various crop advices. TIE
government crop report was regarded as
less unfavorable than expected. Railway
returns were generally favorable and the
increased activity in the Industrial world,
it was thought, would continue to benefit
railroad traffic. The continued keen de-
mand for finished products of iron was re-
sponsible for the marked stength in the
iron and steel shares. Call money was de-
cidedly easier, averaging Ia points below
last weeks rates, and the banks were dis
posed to be far more liberal in accepting
industrial collateral for loans, since many
weak holdings were forced out last week.
A number of very large financial dealings
were consummated without disturbing Tie
money market, while, some discrimination,
particularly by foreign bankers, against
industrial eollaterals was still noticed,
such industrials are complied with the
stock exchange requirement of statement
in order to be listed, were treated more
leniently. The easier money conditions were
especially beneficial to high manipulative
stocks, which are largely held on margin.
The Fraction and Gas shares of Greater
New York were prominent in the weeks
dealings on many Consolidation stories
varying only in scope There were advances
of over IS points in Brooklyn Rapid Tran
sit, in Brooklyn Union Gas, Consolidated
Gas, 5; Manhattan, In; Third Avenue Az,
and Metropolitan, "a. Notable advances
among other specifics were Sugar, sls;
Colorado Fuel and Iron, rs; Continental
Tobacco, 9ss; American Tobacco, 8; Federal
Steel, Sss, and Peoples Gas, 9k.
Strong features among the railways were
nd the Southwestern PrOllD.
especially Mobile and Ohio, Missouri Pa
cific and. Baltimore and Ohio. Tips" are
very abundant in the present market and
because of the large public interest dis
played these predictions of price movements
in particular stocks are more generally
realized than of recent years, when there
was a more restricted speculative interest.
Optimistic utterances by market leaders
have been frequently verified by events be-
cause of the public's confidence resulting
from a long bull movement. While the
banks gained in cash, it is announced that
the government will withdraw Sl0,000000
from some depository banks in million dol
lar weekly payments. An active and varia-
bio money market will be expected owing
to the recurrent financing of industrial
combinations, but for the present strin
seney is not looked for by authorities. The
speculative activity of the week has been
largely away of standard shares of
known value, and has centered specialties
whose prices, judging from present returns
seemed to discount future developments.
4 moderate inquiry prevailed for prime
mortgages during the week and there was
also large absorption of the semi-specu-
latiye grades Prices in the main improved
but the general movement was hesitatng
at times in accordance with the character
istic of the stock market United States
IS coupon advanced u and United States IS
registered and the new As registered, Il;
the old As, coupon, Nc; the 5s and the old
As, registered, declined Il in the bid price.
Total sales stocks today were $40 200
shares, including 7.400 American Steel and
Wire; 1890 Atchison preferred; 20, 800
Brooklyn Transit rights; Si,409 Continental
Tobt 60; 1900 Delaware and Hudson; 10, 900
Federal Steel; 5000 Louisville and Nash
VILE; 1920 Manhattan Consolidated $500
Missouri Pacific; 1850 National Steel; 300
New Jersey Central; 1880 Ontario and
Western; 1890 Peoples Gas; 21,1OO Reading
first preferred; 10400 do second preferred;
400 st. Paul; 2S,900 Tennessee Coal and
Iron; 10200lTexas Pacific.