The sun. [volume] (New York [N.Y.]) 1833-1916, 1891-12-13

| to the attitude OF the Administration towart
silver. OF course innumerable financial meas
ures will be introduced IN Congress. but 30 faI
~ they may relate to silver It IL clear they vii
have little chance of becoming laws Havine
committed itself to the present compromise
silver cot Of July. 1890. the Administrator
proposes 10 do ell In Ito power 10 give that
measure further trial. Another significant
event this week has been the reduction in the
Bank Of England's rate Of discount The con-
dition Of the money markets Of the world ia
now exactly opposite TO what IL was q year ago,
Confidence prevails everywhere and In con-
sequence there is no Withholding OF funds
from the loan market, and there is also a
steady increase in the demand for investment
securities The presence Of that demand Is
admitted by those who usually cater to It; for
offerings Of round amounts Of bonds are
becoming moro frequent II is under
stood that large part OF the Lake
Erie and Western Railroad second mort
gage bonds has been placed By the bank
Ing house that took the issue from the
company. The Rock Island and the East Ten
nessee COMPANIES have recently found mar
ket for new issues. and tho Manitoba Com
pany has disposed Of 1000 900 Of nrst mort
gage bonds on It's Montana Central line. All
Of these transactions are indubitable evil
dence Of returning confidence In RAILWAY So
curities.
General business IL said TO reflect but slight
~ the usual withdrawal Of interest incidental
TO the holiday season. The volume Of trans
actions is large with the most noteworthy In
crease in the iron trade. The prices Of manu-
proportion to the larger number Of orders that
have been received. But with heavier dis
bursementa BY the railroads for rails
and new equipment. in consequence Of their
larger receipts and their ability to borrow
money. the iron market 10 certain 10 become
active at q higher range Of prices. Collections
are said to be almost universally good. and at
practically every point the supply Of money Is
equal to the demand. Exports. particularly OF
breadstufHs. are very heavy. and would proba-
bly, be larger II tho railroads could move grain
more freely.
On the Stock Exchange the week has been
quiet in the main. 80 far as stock dealings
were concerned. but the bond market has been
strong and active. In stocks the more impor-
tant movements have been in Chicago Gas.
Distiling and Cattle Feeding. Richmond Ter
mtnal. Canada Southern. and G.. b and Quincy.
All Of them are materially higher than last
Saturday. The reactionary movement at the
close OF the week was most pronounced In
Missouri Pacific. Northern Pacific preferred
Lake Shore. and Northwestern. The average
Of final prices. not including the half dozen
stocks Or more that have been mentioned. is
practically the same as q week ago.
To-day's market was dull and fractionally
lower. G.. B. and Quincy and Richmond Ter
minal very nearly monopolized attention.
Vague rumors OF an irregularity OF some sort
were current. but. as was the Case yesterday.
It was impossible to learn that there was any
by the professional element to depress prices.
Imports Of gold to-day were s263.0OO. max
ing the total received since Sept IL.
$26.42O.525. The amount known to be in
transit Is $1.120OO0 To-day's bank state
ment shows further return Of money from the
country. a. the increase in lawful money is
entirely In legal tenders The loans remain
about stationsrYfA and the deposits little more
than reflect the increase In lawful money. Tho
net result. therefore. Is an increase Of nearly
TX millions in the surplus reserve. The clos
ing was steady. with prices only slightly above
the lowest figures.
As compared with the final prices OF last
the list is irregular. The more i'm
portant net advances were in Chicago Gas and
nR and cate Feeane cans
and Hudson. ! each; Chicago, Burlington and
and add 81 Yan aRd ssa essa
worthy declines were In Missouri Pacific. AZ:
Northwest. TX: Lake. Shore. X: Northern
Pacific preferred. TX: Atchison. ~. American
ss e. 9eRslsl ana JnIoa faaie.
Final sales compare with those OF yesterday