The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1900-09-11
The STOCK MARKET
WAS FEAFURELESS
Continues to Maintain a Waiting
Attitude.
WAS GENERAL INACTIVITY
Speculation Diverted by Reason Of Dis
astrions Possibility Resulting from
Wild Cotton Market-Money
and Bonds Irregular
WAS GENERAL INACTIVITY

New York, September 10.-The stock mar
ket maintained its waiting attitude today.
The disposition to make any market COM
mitments was emphasized by the new UNI
certainties In the outlook, particularly the
postponement but not the abandonment of
the anthracite miners strike and the very
meager news received up TO the time the
market closd of the extent of destruction
in the Texas hurricane.
The wild excitement in the cotton mar
ket diverted speculative interests from
stocks and caused some quiet, both by rea-
son of the possible misfortune which might
attend such unbridled speculation and the
demands which would be made on the
money market in order to carry the specu-
lation.
The Texas storm caused some positive
depression in the early dealings, but sup
port was offered in the important stocks
affected and they rallied. The Kansas City
Southern stocks were retired sharply and
lost to ~ points respectively for the
common and preferred, but 1t was evident
that this was bear drive induced by the
recent liquidation evident In the stocks,
and they recovered all but half of the loss.
The anthracite cealers were favorably af-
fected by the proposed strike and Reading
first preferred and New Jersey Central
rose respectively 1 and points on small
dealings.
Professional operators stepped in the
conviction that an active speculation is
waiting only the decision of pending cleo
torai contest, and they cover their short
contracts today in the fear that the Maine
election might awaken the market into ac-
tivity at their expense. The resulting
movement of prices was generally very
small and ragged.
The Industrial specialties which have
been under pressure, notably sugar, Peo-
ples Gas and Brooklyn Transit, recovered
The only other movements of Importance
were in stocks seldom dealt in. Wisconsin
preferred dropped 3Ia on few transac tons
The fall of 23s in international paper was
attributed to reports that a rival company
is to be formed.
The furious speculation in cotton gives
point to the bank statement and arouses
some renewed uneasiness as to the ability
of the money market to meet the period of
fall strain upon it. A further sharp decline
in sterling exchange, due to con tinued heavy
foreign demand for cotton, disposed to any
supposition that gold might go out to Eng
land this week. but the sub-treasury in the
absence of payments on account of gold de-
poSiteu DIT tacIlc pOinlS ana LOT REFUNDED
bond premiums, is beginning to absorb cash
on account of the revenue surplus. The in
terror exchanges continue to move against
New York and the movement of currency
ITO the interior has evidently commenced in
force. Wall street wants light on the ques-
ton how far the bank note expansion and
the large supply of money in the west will
relieve the usual pressure on New York
banks for funds from the interior.
The bond market continued and irregu-
lar. Total sales, par value $945,oe0.
United States rs advanced y, and new and
old As and the IS u per cent in the bid
price.
New York, September 10.-Money on call
steady at 1A@1k per cent; last loan 11a
per cent. Prime mercantile paper 4ll5A per
cent Sterling exchange weak with actual
business in bankers bills at 81. S61a6I4. S65s
for demand, and at S4.S62 G14 .S7as for sixty
days. Posted rates 81. S4Q4.S5 and 81. S71a0
4.SSh. Commercial bills at $4.S2s46D4. s314.
Silver certificates 621A@631ac; bar silver
62Hc; Mexican dollars 4S1ac.
Government bonds strong; state bonds
firm; railroad bonds irregular.