The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1900-09-08
LARGE OPERATIONS
IN WALL STREET
The Anthracite Strike Situation
Caused UneaSineSs.
STEEL STOCKS WERE QUIET
Tennessee Coal Rallied Sharply from
9 Thursdays Depression Missouri
Pacific Yesterdays Favorite.
Trading in Bonds Small
STEEL STOCKS WERE QUIET

New York. September 7--Today's stock
market was exclusively in professional
hands Although it was but a narrow az
fair it showed evidence of some operations
of rather larger scope than have oeeh seen
during the summer, rejecting in all prop
ability the resumption of activity by some
of the influential traders who have been
away. for the summer Efforts by Dull
clique was in evidence, but they met with
only moderate success. Their method
seems to be to pass from one stock TO an
other on successive days seeking some APP
pearance of continuity in the movement
by manipulating stocks in which the IN
terests are allied or which are materially
affected by some development of condi-
tions.
Today Missouri Pacific was the favorite
at an extreme advance from the low point
of Ia with dealings on quite large scale
The attempt was made to make this seem
a logical sequence of yesterdays move
ment in the Southern Railroad stocks and
st. Louis Southwestern preferred was
boguht in on talk of close relations with
Missouri Pacific and of benefit from the
prevailing high price of cotton. Mean
time the Southern Railroad stocks, c. &
O.. and Southern Pacific and other stocks
which had been under manipulation earlier
in the week were held back by profit TAX
ings The fears of strike of anthracite
miners was depressing factor, and Read
ing first preferred, D. & H. and N. J. c.
fell off / to IL at times during the day.
Liquidation in the coalers was not large,
however. London was seller in this mar
ket, owing to uneasiness on account of the
antricite situation and to firmer money
In, Tha in IN
also induced some closing out of accounts.
In the list of specialties, Peoples Gas and
Brooklyn Transit were the most conSpic-
uous figures, and owing to the fact that
the identical interests in the two proper
ties are large the contrary movement in
the stocks was strange. In the late deal
ings, this opposing movement was rather
palpably due to manipulation, Brooklyn
Transit being bid up in an unavailing eff
fort to check the decline in Peoples Gas.
Sugar moved narrowly on a small volume
of dealings, minus the dividend which was
declared early in the week and closed with
a small net gain The steel stocks were
rather quiet and irregular, Tennessee Coal
rallying sharply from yesterdays depres-
sion.
The money movement for the week is
interesting as showing an excess of ship
ments over receipts by express for the
first time this season. The sharp decline
in New York exchange in Chicago from 80
discount yesterday to so discounts today.
explains the source of the demand, though
money has gone out quite freely to the
South also during the week Gains by sub
treasury operations, due to payments on
account of government bond redemptions
and of deposits of gold at Pacific coast
points leave a large margin of gain to the
banks, the indications being that the in
crease in cash reserves has reached over a
million dollars. Continued liquidation of
Kansas City Southern bonds was the fea-
ture of the bond market. Trading other
wise was small. Total sales, par value,
sSs5,0o0. United States As advanced u in
the bid price.
New York. September 7.-Money on call
steady at 1A@1h per cent. last loan at
~ per cent.
Prime mercantile paper, 465 per cent.
Sterling exchange easy, with actual bust
ness in bankers bills at $4S7 for demand
and at 81 S39s for 60 days
Posted rates, s4.S4AGD4S5 and $4SS0D4 SS1b
Commercial bills, $4.S27s@4 S3A.
Silver certificates, 621zQ63hc.
Bar silver. 62asc.
Mexican dollars, 4Ss4c
Government bonds strong.
State bonds inactive.
Railroad bonds irregular.
tBy Private Wire to Murphy G. Coz