The sun. [volume] (New York [N.Y.]) 1833-1916, 1891-12-20

EoH S:,sy,i'''.. ~ Wabash pf':...:.. 00ss
SATURDAY. Dec. 10
With ono or two trillhg exceptions the
events OF the week have contributed to an In.
crease Of confidence In tho future Of the stock
market. Prices In some instances have ad-
vanoed to the highest point OF The year. and
the speculation In stocks as we'll as the invest
ment movement In bonds and interest paying
securities generally has broadened materially.
although It is naturally held In check by an
indisposition to mako fresh ventures Just pre-
vioue to the January settlements. As 10 shown
by the broadening markets there 10 less OF
that feeling this year than is usual. for the
condition OF the banks Is such as to dIssipate
oil fears Of strinRency or even Of hardening
Of rates moro than what might naturally be
expected TO accompany the enormous settle-
ments Of the FIRST Of tho year.
The statement OF bank averages to-day Is
very significant one. There wns an Increase
Of over $9.00O.0O0 in deposits. due to an &C.
oumulation Of funds Tor psnsions. interest,
and other necessary disbursement purposes.
There was m increase In lawful money OF
over $4,000. 0OO, a. q result Of Sub Treasury
operations and the interior movement There
was also an increase OF over 100000 In the
loans which 10 tribute to the present specn-
lative activity. and q relatively small increase
in the legal reserve because Of the enormous
increase Of deposits. Such . condition OF tho
banks can hardly fail to exert q potent inhu-
encs in stimulating activity on the Stock Ex-
change after the nrst Of January.
The activity and strength Of tho bond mar
ket II Of great significance 20 far rs Il reflects
the prevailing sentiment regarding the money
market Tho dealings this week will aSRre-
gate something over S1<.OO0.O0O while those
OF to-day. with only two hours OF business.
reached total Of $2.10O.0O0. being the largest
amount recorded for q Saturday since the half
holiday law went into effect. This amount. Of
course. docs not include tho large amount Of
securities dealt in outside the Exchange. OF
which there IL no record. The speculative
issues are for the present the leaders. but the
tendency Is to include in the so-called active
list oil that present . legitimate claim to con.
alteration.
The speculative situation at the Stock Ex-
change has undergone some slight change
during the week. There has been an average
gain Of about ~ v cent. In which advance
the Rock Island may claim leadership But
the granRers have all been strong from tho
fact that their earnings are constantly increas-
ing. and the trafic Offering them is In excess
OF their facilities to handle It. There has been
the actual increase in tho Rock Island divi-
dend from u p cent to y cent quarterly. the
purchase OF the Milwaukee. Lake Shore and
Western by the Northwestern road. and the
unexpected turn about in tho affairs Of the
Richmond Terminal. All these influences have
had due weight In contributing to the strength
OF tho market
Furthermore there is in progress IN export
movement Of breadstuffs which is phenom-
email. The Bureau Of Statistics states that the
shipment OF breadstufis cotton. provisions
&c. for November shows an increase OF So.
100000 as compared with the same month last
year. and that the aggregate produce ship |
ment for December. II continued at the present |
rate. is likely to exceed even that amount. |
Considering this movement and at the same |
time high rates for sterling exchange. tho |
strength Of the latter can only be accounted |
for BY IN unusual demand for bills to remit |
interest for dividends. &C.. and it 10 thought |
that after the first OF the year the rates for |
sterling will decline to the gold importing |
point
To.dsy's market was fairly active and very |
strong. The principal trading was in Atch-
ison. Erie. Rock Island. st. Paul. and Union |
Pacific all OF which scored net advances cx- |
tending to " 2 cent. The principal advances.
however. were made In Louisvilles and Nash |
vile. American Cotton OIL. and Wabash pre-
ferred. Tho revival OF activity in Cotton Oil is |
accompanied BY reports OF . dividend The |
market closed strong at about tho highest |
point OF tho day.
As compared with the final prices Of last
Saturday. the list Is higher with the exception
Of Distilling and Cattle Feeding Co.. which
declined X v cent The more important net
advances were In Rock Island. 3K y cent;
American Cotton Oil. Ok; Chicago, Burling-
ton and Quincy and Wabash preferred. 81
each: Cleveland. Gin. Chic. and St Louis. Chi
cago Gas. St Paul. and Union Pacific. 2S each;
Louisville and Nashville. az: Missouri Pacific.
2: Atchison. Now England. and N. Y. Central.
TX each: Erie TX: Lackawsnna. IN: Della
ware and Hudson. IN: Northern Pacific pre-
ferred. IL; Northwest and Reading. TX each:
Wheeling and Lake Eric. IL: North Ameri.
can. /: American Sugar Refining Co.. e;
Canada Southern. z: Ontario and Western. *:
National Cordage and Wheeling and Lake
Erie preferred. u a cent each.
Final sales compare with those of yesterday
as follows: