The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-07-28
STOCK MARKET
OPENED NARROW
More Animation Noticed To-
wards the Close,
CONFIDENCE IN MONEY
Anxiety Lessened Because Bank of En-
gland Did Not Increase Its Dis
count Rates Yesterday-Total
Sale Bonds $1,61o,ooo

New York Juna 27.-The stock market
continued narrow and professional today
until the last hour, when there developed
more animation and strength than had been
noted for many days past. The late move
saent seemed to start with strength stimuli
taneously displayed by the Lake Erie and
Western Pittsburg, Cincinnati, Chicago and
st. Louis and P1ttsburg and Western pre-
ferred. These stocks gained from IA for
Lake Erie and Western to 4 points for
Pittsburg, Cincinnati, Chicago and st.
Louis. The marking up Of Sugar an ex-
IRENE 2i2 and the rise in New York Central
to 14O helped on the movement and the gen.
eral market rose above last nights level
Quite an active demand sprung up for the
Changers and lifted Burlington over a
point The activity of the market did not
become general. however, and gains were
not at all uniform. The traders were
hearish in the early part OF the day but
finding that prices resisted pressure, they
termed to the long side, encouraged by the
strength OF special stocks. The movement
In Rock Island and the Southwestern stocks
showed some diminution under profit TAX
ing, but Kansas and Texas preferred re-
tanned It's strergth and advanced over u
Point. sugar also showed an advancing
tendency from the first and Louisville and
Nashville which sold eK-dividend OF per
cent. ,kegalned l3s OF that amount
There was mid day advance in the To-
bacco stocks which helped on the upward
NOV ement, continental common rising Ia,
the preferred and American Tobacco
point. The mailing stocks recovered later
in the evening. Gas jumped 3is points. The
developments in the money market begot
increased confidence. Yesterday and today
there have been large loans made OIL time
on the stock exchange from which it Is ar
gued operators feed the possibility of a de-
mand for money that may stiffen call rates
and destroy time loans on the securities
they are trying to hold for long pull. The
fact that the Bank OF England did not in
crease its discount rate today served to les
sen anxiety ON the money question and the
weekly exhibit OF that institution showed
that the open market had been able to re-
duce its loan obligations to the bank very
heavily. The sharp fall in French rents
and reports of a political crisis in that
country are without much effect in New
York. The money market here was some
what relieved by the transfer of funds
from tho sub-treasury to the banks on the
payment for the new custom house site in
New York and it became known that the
government has ceased for the time being
its weekly Withdrawals of deposits from
the New York banks, which have been at
past June statements of net earnings COM
lictiuS nsCSti UstI fuN IIuLIi1tSt 9f is~i'
that Of St Paul, showing an increase III
the net for the year of $1,S79.6a6.
The bond market did not show much re-
spouse to the strength in the stocks ana
fractional declines were the rule. Total
sales par value amounted to $1,610OO
The United States new AS registered de-
clined Il and the old As registered and tho
Els registered "a in the bid price.
New York, July 2T.-Money on call steady
at S156f4 per cent; last loan per cent.
Prime mercantile paper, S1sGe41s per cent:
sterling exchange easier, with actual bust
ness in bankers bills at 4.S714G& So. for de-
mand. and at 4.S32464.& for sixty days.
Posted rates, 4S56S4. S51a and 4.sS694. SSis;
commercial bills. 1891 SS1..
Silver certificates. 6o7sdB1c; bar silver,
60Ac; Mexican dollars, 4Sc.
Government bonds weak; state bonds in
active; railroad bonds weak.