The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-08-09
STOCK MARKET
4 DULL AFFAIR
ScrambIing by Shorts to Cover
Their Contracts.
MONEY WAS RATHER EASY
Hardening Tendency in London Dis
counts Still Continues-very Few
Changes in Bonds, With Tc-
tai Sales of$1, 100000
MONEY WAS RATHER EASY

New York, August S-The stock market
was a dull affair for the greater part of to-
day, drifting aimlessly within a narrow
range. Some strength was shown by few
isolated stocks throughout the day under
influence which was not disclosed by any
published news. This persistent strength in
some spots seemed to arouse the
approximations of the bears in the last
hour of the market. The manner in which
prices were marked up in the late dealings
caused good deal of scramblng by shorts
to cover their contracts and awakened
more appearance of animation and strength
than has been seen in the market for some
time.
The higher prices for Americans made In
London were without much effect, and they
were for the most part nominal, and Lon
don sold from 1900 to 1900 shares here
after the opening. Strength kept cropping
at new points as the day progressed. There
was early strength In Anaconda and a few
of the specialties, but period of reaction
followed under realizing in Tobacco and
Kansas City, Pittsburg and Gulf. The
Minneapolis and st. Louis stock rose SIS
and ga respectively. There was a late
movement in the Coalers which lifted them
from to 2h. with notable effect on the
whole list Other stocks showing notable
gains were Consolidated Gas, Az, and Pa
cific Coast second preferred, 25s; Tennessee
Coal Colorado Fuel, Peoples Gas, Brook
Ign Transit, Steel and Wire, American
Linseed Oil preferred and a few less prom
1nent stocks advanced a point. A very
strong upward movement in Sugar from
1925 to 1924 was the decisive influence in
the latest in the market, which closed ac-
fIya and str af nat In. in aar1xy oil
cases.
The tone of the market was called rather
easy, though rates were not quotably
changed. The hardening tendency of Lon
don discounts still continued, but the
money rate at Berlin was fraction lower
and sterling exchange there advanced.
showing relaxation of the tension at that
point, notwithstanding that the Bank of
England continues to make demands upon
Berlin for gold. Sterling exchange here
continued Its downward course and con-
fidence grows that gold will come from
abroad If an emergency here demands IL.
The free offerings of funds that small de-
mands will be made upon New York for
money to move the crops. There were late
reports of weakness in the London market
for silver on account of importations from
Chill. Kansas City, Pittsburg and Gulf
frsts reacted in sympathy with stocks.
otherwise changes were small and mixed.
Total sales par value S1,320,0OO. United
States bonds unchanged on bid quotations.
New York, August S.-Money Oh call
steady, 3a4 per cent; last loan, 312 per
cent.
Primo mercantile paper, 4Gl4A per cent.
Sterling exchange easy, with actual bust
ness in bankers bills, $4.S5as@4.S6 for de-
mand and s4S2A@4S21s for sixty days.
Posted rates. $4.sS1a@4S4 and $4.S7@iS7h.
Commercial bills, $4.S11a
Silver certificates, 60h@61.
Bar silver, 60A.
Mexican dollars 4Sc
Government bonds steady.
State bonds inactive.
Railroad bonds irregular.
Ry Private Wire to Talbot & Palmer.