The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-02-03
NET DECLINE IN
PRICES OF STOCKS
Opening Was Strong With One
half TO One Advance.
THEN DEMAND SLACKENED
And the Desire to Make Profits Caused
Traders to Unloose Their Holds
ings : Tennessee Company
Stock Remained Firm.

New York, February 2.-Prices made frac-
tional net declines on the stock exchange
today with dealings in about 100000 shares.
Influenced by better London quotations and
the reduction of the Bank of. Englands
rate of discount stocks opened strong with
advances of about hG1 point in the active
list.
There was a disposition both here and
abroad toward increased interests in low
priced shares. Purchass for London ac-
count on balance reached about 25,00O
shares, but it was estimated that about $780,
OOO shares of stocks shipped from London
would reach New York this week.
AdVices indicating that the ratification
of the peace treaty was likely had some
influence on speculative sentiment and
prices continued to rise most of the fore
noon. Chesapeake and Ohio, International
Silver, Louisville and Nashville and Dem
Yer and Rio Grande moved up smartly.
There was a sympathetic advance among
the high priced stocks, but it was of only
moderate proportions. Central Pacific,
Southern Pacific, Atchison preferred, Ten
nessee Coal and Iron, Cleveland, Columbus,
Cincinnati and st. Louis and Norfolk and
Western preferred were strong.
Periods of strength were displayed by
Manhattan, Brooklyn Transit and Sugar. In
the afternoon the buying demand slack
ened and the apparent inclinations of COM
mission house customers to take profits in
duced traders to offer stocks down. which
in turn brought about some liquidation of
weak holdings. There were sharp recess
sions in number of specialties including
Peoples Gas, Sugar. Tobacco, Twin City
Rapid Transit. Metropolitan Traction and
Consolidated Gas. The weakness of the
latter stock was in measure attributable
to measures introduced in the New York
legislature for the reduction in the price
of gas.
The grangers and a number of other
stocks receded a point and over from the
best. The selling for a time was moderate
dealings, but before the meeting was over
the volume increased considerably and
prices got well below yesterdays closing.
In the late dealings there were slight raj
lies, led by Sugar and the market closed
firm.
rhe bond market showed more stability
than stocks, the undertone being one of
undoubtod strength. In the final opera tious,
however, profit taking in the active is.
sues impaired an irregular close. Total
sales, 4@NOOO Government bonds We're nn-
changed in the bid prices.
Total sales stocks today 799, 700 shales, in
Guiding 14,020 Atchison; $500 Atchison pre-
ferred; 23,440 Burlington; 6O,95O Chesapeake
and Ohio; 1850 Louisville and Nashville;
%, $50 Manhattan; 7,190 Reading, preferred;
S,4OO Missouri Pacific; 5.6S5 New York Cen
trail; 6,755 Rock Island 16, $50 St. Paul; 5,525
Southern; 1870 Southern preferred; ,250
Sugar; $3.50 Tennessee Coal and Iron.
Money on call steady at 21ad3 per cent;
last loan, per cent; prime mercantile
paper 21a@3A per cent; sterling exchange
strong, with actual business in bankers
bills at %S51ad4.S 5% for demand and at
S4.S3A@4SSla for sixty days; posted rates,
SS4@4S6; commercial bills, AS2d4S2l6; sill
yer certificates nominal, 5912G6OA bar sill
Yer, 5512; Mexican dollars, AIS.
Government bonds steady.
State bonds steady.
Railroad bonds irregular.