Los Angeles daily herald. [microfilm reel] (Los Angeles [Calif.]) 1884-1890, 1886-01-01
THE PAST YEAR.


Hallway Operations.
New YORK, December 3l.-The year
which closes to-day will be long remem-
bered in Wall street. During the first
six months there was very dull market
with net advance for active shares of
less than two per cent on July lst, as
compared with the opening quotations
on January I'd. From that time. how
ever, until the latter part Of November
there was a persistent aud almost con
tinuous upward movement which re-
suited in net average advance for the
most active stocks of about 25 per cent,
and In some instances the gain was con-
siderably larger. A moderate re-
action later in the year has
since been followed by very
firm but somewhat less active market
and the year closes with the confident
belief in Wall Street that prices higher
than have been seen in 1885 will be
reached at no distant day. Some idea
of the great activity in the stock mar
ket OF late may be obtained from the
statement that the total sales for the
putt tltH0u Wtthb ndNt Dttu tuuhi 10
the business of the first six months of
the year. An analysis of the years
business shows that Lackawanna and
st. Paul alone contributed one quarter
Of the years business, and the following
sixteen stocks, each of which contributed
million shares or more, eighty
six per cent. Of the years business.
st. Paul, S12, ,403, 307; Lsckawanna, Sl2,-
289, $40; Lake Shore, 81, ,999, 252; North
Western, SO. 585,095; Union Pacific,
So, 3O7, IOl; W estern Union, S6,1ll, ,476;
New York Central, s., los, 766; Pac fic
Mail, SO, sos. AT; Missouri, Kansas and
Texas, 1891, ,52l; Erie, $3.50, DIG;
Northern Pacific, preferred, $2,69l. s9s;
Louisville and Nashville, 81. ,779;
Oregon Transcontinental, 1924, $3.50;
Jersey Central. Sl,6l4,7l7; Texas and
Pacific, S573, 1916; Reading, $l,3l2, ,996.
The average prizes of these sixteen stocks
at the beginning of the year was 45t
cents; the lowest average price
reached was 40i; the highest 63Y,
and tonight the average price is 62s.
The smallest declines from the highest
prices have been made by the Wander
bilts. but Northern Pacific, Oregon
lEauscOntlhentala anu Facluc MAIL 1OIlOW
closely behind. The railway bond mar
ket has sympathized with the improve
ment in the price of shares. The total
sales for the year amounted to about
$668. 900, 900. Erie seconds, Consols, and
West Shore firsts and the recently guar
anteed fours have been most couspicu-
Gus for their activity. At the beginning
of the year West Shore firstswere selling
at 395. To-day guaranteed fours closed
at an equivalent Of 5l5. Erie seconds at
the opening of the year were selling at
57s, and this evening closed at 9l4.
The report of the clearing house for
the year shows exchanges amounting to
S26. l52, POI, 1886, against $50, 9s5. .S71, 10
in 1884. and balances for 1885 were
81, 1856, 470,655 against $l,474, ,l6l Ala
for the preceding year Money has
ruled easy throughout the year with
most call loans made at to 3 per cent.
Never before in the history OF banks have
they reported anything approaching the
amount of idle capital seeking tempo
rary Investment that has been shown in
their weekly statements throughout the
greater part of 1885.