The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-08-22
BATTLE ROYAL IN
STOCK MARKET
Spots in Industrial List Proved
Extremely Vulnerable.
BROOKLYN TRANSIT ATTACK
Bones Showed Increased Activity in
Sympathy, With the Total Sales at
Par Value Amounting to
$4,l2e,ooo.
BROOKLYN TRANSIT ATTACK

New York, August 21.-There was bat
tie royal between the bulls and bears on
the stock exchange today. The bulls had
somewhat the advantage of the position,
as they were entrenehed behind a large
and we'll distributed demand for stock of
ell varieties. Commission house business
was a very large scale, and the move
ment of the prices, in the majority of the
list was varied throughout the day, real
izng going on in a liberal way at one por-
ton of the list, while prices were marked
up in another. One or two stocks showed
conspicuous strength, but the tendency to
advance in the railroad list was surpris-
ing uniform, and took in all grades of
stocks from the highest to the low priced
issues. But there were spots in the in
dustral list which proved exceedingly vul-
nerable, and the fierce and persistent de-
mand with which the bears raided these
resulted in wiplng out the majority of
gains which had been achieved in the rail-
roads and reducing practically all that re-
manned to fractional limits.
Brooklyn Transit suffered the severest
attack from the bears all day long. 1t
was offered down through successive
stages, each drop bringing out a deluge of
long stock and dislodging copious stop loss
orders. The success of the bears with the
stock encouraged them to extend their at
tack to other members of the so-called
flower group. They forced down interna-
tlonal paper an extreme points, and Fed
eral steel suffered to the extent of 3ss.
Peoples Gas lost over . points and Rock
Island point. The extent of the decline
invited hasty covering and there were
rallies of to points in the group. Man.
hate
Third avenue showed wide declines, in
sympathy ranging from 2s to AZ in the
case of the first two named. Sugar was
also vulnerable after an early gain of a
point and dropped nearly points. Steel
and wire showed a markedly dropping
tendency, and other iron and steel stocks
were also heavy.
The influence of this weakness on the
railroad list was accentuated by a late
marking up of call loans to 3k per cent.
after having ruled at and below per cent.
during the early part of the day. The fact
remains that a large portion of the days
business of the railroads was done at
prices above Saturdays level. There was
an enormous absorption Of stock from the
opening in spite of the rather heavy tone
reflected from foreign stock markets by
the disorders in Paris, an uneasness over
the political situati ton and the spread of
the bubonic plague. Tennessee Coal and
Iron rose buoyantly to Az points to par in
the first few minutes of the trading. It
went back during the day to 81, but closed
at 80.
Louisville continued in active demand
and sold up to S37s. A number of low
priced stocks, notably Denver and Rio
Grande, and Norfolk and Western were in
good demand and the large organized buy
ing of Southern Pacific was continued.
This stock was held back by realizing, and
did not at any time rise more than small
fraction over Saturday Stocks of rail-
roads In Colorado were uniformly strong
on the improved conditions in the mining
industry of that state. Atchison, preferred.
the grangers, the coalers, Baltimore and
Ohio sticks and Union Pacific were in large
demand Very little remains of the early
gains in these stocks, which reached a
point or over in a number of cases. Ameri-
can Tobacco ends with a gain of nearly
two points. There were number of
more obscure stocks which showed
strength during the day.
The bond market showed increased ac-
tivity in sympathy with stocks There
were conspicuous gains in Southern Pacific
AS Colorado Midland As, and Atchison AS.
Total sales par value $4,12S,O00
New York August 21.-Money on call
steady at 234Gf5 per cent. Sterling exchange
firm with actual business in bankers bills
at 4.S6h6 4.S6a for demand and at 4.S3m
4S3A for sixty days Posted rates 4.S4eD
4S7j5 Commercial bills 4.S2lef.S2A. Silver
certificates GD16OA. Bar silver go. MeM-
can dollars 1873. Government bonds strong;
state bonds inaccurate; railroad bonds
strong.
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