Morning journal and courier., 1886-12-17
Eimat1ciaI.

A Better Feeling on sChange-Much
 Anxiety at the opening Hut Strong
 Hands Come to the Rescue-Prices
 Go UP All Around on a Brisk Bust-
 ness-The Best Rates of the Day sCurrent at the Close When the
 Market is Strong and RuoyaHt.
 NEW YORK. Dec 16.
 Although by no means treasured brokers left the street last evening in the hope that the worst had been tided over. This hope was based on the fact that although values had undergone heavy shrinkage, only one firm succumbed. They were also buoyed up by the fact that in the last hour there had been sharp upward turn. Notwith- standing this hopeful feeling brokers and specula- tors at their offices at unusually early hour strengthening out their accounts and putting affairs in shape for the business of the day As on yester day morning brokers clerks and messengers ran hither and thther. more hopeful feeling pre- vailed however, and many asserted that the large houses would matter of self protection prevent further shrinkage. When the chairman of the board entered the board room it was packed with brokers anxiously awaiting the opening sales Hard ly had the gevel sounded when the selling com. menced. Reading, Lackawanna, Western Union, Lake Shore and other leading specula tives were of fered in large blocks, but were readily bought. Prices went slowly up and in the first fifteen min utes advance of E to 1x per cent. had been es- tablshed the closing figures of last night. It evident that strong hands were supporting the market and there general feeling Of relief as prices climbed up. It was, however, soon made apparent that the trading and speculative public had not fully recovered confidence either in the market the ability of the cliques to push prices up. In the next fifteen minutes there steady unloading and at the first call most of the early ad- had been lost. Toward ii o'clock the selling died out. During the rest of the morning the mar ket was comparatively dull and prices sagged stead fly until 1230 At that hour majority of the act i've stocks from 14 to 1s4 per cent. below last nights closing Reading, Louisville & Nashville, St. Paul and Richmond 6 Terminal were the weak est stocks, while New York & New England and Jersey Central were comparatively firm At 12:30 money was loaned at 4 to per cent per diem in addition to the legal rate and the announcement of the advance in the Bank of England rate to per cent. calculated to further aggravate the strin gency of money. The morning sales were 32o, 900 shares. During the afternoon the market was strong ard at times buoyant. There was steady covering and prices after o'clo ok went gradually upward to the close, when figures were at or near the best of the day. The money market eased up considerably and loans to be had late in the afternoon as low per cent. This fact in itself helped materially in strengthening the mark As compared with yesterdays figures the advance ranged from 4 to per cent. and was most marked in Tennessee Coal, New York & New England, Bur lington & Quincy, Canada Southern, Hooking Val ley, Delaware, Lackawa anna Western, Delaware & duuSOn, DenFer, hanSaS 6 1eX aS, Lako SHOTc, Memphis & Charleston, Michigan Central, Mobile & Ohio, Chattanooga, Nickel Plate, Norfolk West ern Jersey Central, Oregon Navigation, Ontario & Western, and Richmond & West Point Terminal. The day sales reached 612. .76O shares
 Money closed at per cent The highest rate was E of per cent. per diem and legal interest. The lowest rate 4.
 Exchange closed steady. Posted rates 4.so1a@ 4.s4f; actual rates 4s7s4@4.9 90 for 60 days.
 Governments closed steady.
 Closing prices reported over he private wires of BUNNELL & SCRANTON. Bankers and Brokers