The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-04-28
FLUCTUATIONS IN
STOCK PRICES
The Market Went Below Closing
Figures of Wednesday.
DEMAND FOR CALL MONEY
Sent the Rate Up, and a Possible
Squeeze Was Anticipated-Unit-
ed States Bonds Declined
in the Bid Price.
DEMAND FOR CALL MONEY

New York, April 27-Stocks opened up
this morning, and after moderate fiuctua-
lions either way slid off below yesterdays
prices.
There were advices of crop damage; ster-
ling exchange was strong at higher figures
and call money was at the legal rate 6
per cent, in the afternoon, all of which
combined to send prices off with a rush,
and the market closed weak under press
ure.
The demand for money was incidental to
the preparations of corporations to meet
May disbursements, and then there was
disposition among traders to anticipate
possible squeeze in call money tomorrow,
when loans carry over to Monday. There
was moderate arbitrage buying for Lon
don account early and the traders were also
prominent buyers, but the diminishing COM
mission house business prompted them to
switch their position and sell for a turn.
The trading in half million shares was
practically all for professional operators.
Silver certificates, representing 100000
ounces, changed hands at from 6SA to 6474,
the latter being the highest figure in over
two years. The bull speculation in silver
as well as dividend gossip impaired
strength to Denver and Rio Grande issues.
Anaconda Mining had over 8 points knocked
OH from It's recent ADVANCE on nquludllon
induced by the denial of a large interest
that the proposed copper trust" had con-
troll of the property. Manhattan Beach
dropped points with little recovery on
stop loss orders being reached. New York
Air Brake sold up IA points, the greater
part of which is held on the approach of
'the judicial decisions which the friends of
the property say viii be favorable. Della
ware, Lackawanna and Western recovered
from yesterdays depression which was
connected with rumors impending laoor
dlnIculties.
The heaviness of the market was aceentu-
ated by free selling of Brooklyn Transit
and Sugar, although an earlier rise in Su-
gar was on an intangible rumor that the
company would offer rights to subscribe for
a new issue of stock at par to be used In
connection with some deal with rival in
terests.
Further improvements were made in ali
the standard railroad mortgages today.
and some new fiotations were also taken at
improved figures Total sales, 4,195,000.
United States registered 3's declined Il
and do coupon, the new As coupon and the
SIS Is in the bid price.
The total sales of stock today were 5S9,6i3
shares, including: American Steel and
Wire, 1890; American Sugar, 49, 800; Atchi-
son, preferred; 11,30O; Brooklyn Transit,
LOO; Brooklyn Transit rights, 1f,100; Bur
lington, $500; Chicago Consolidated Trac-
ton, 1920; Continental Tobacco, $780,
Denver and Rio Grande, IA 400; Denver and
Rio Grande, preferred 10000; Federal Steel,
$500; Federal Steel, preferred; 5000; Inter-
national Paper, $500; international Paper,
preferred; $500; Louisville and Nashvilles
1a000; Mexican Central 1900; Missouri
Pacific, 12,400; National Steel, 9,4O0; North
American, $500; Peoples Gas, $500; Read
ing first preferred, 16,90O st. Paul, $780,
Southern Railway, preferred, $780,.
Money on call steady sac per cent; last
loan, 8 per cent.
Prime mercantile paper, 3taGb4A per cent.
Sterling exchange strong, with actual
business in bankers bills at $4.S71404S715
for demand and at $4S5A@4S51z for sixty
days
Posted rates, s4.S71ha4.S6 and sGS71S@
Ass.
Commercial bills, s4.S4A64S4&.
Silver certificates, G3B@6i.
Bar silver, 63Ad63%.
Mexican dollars, 4S12d50.
Government bonds weak.
State bonds inactive.
Railroad bonds strong.
(Ry Private Wire to Paine Murphv G, N