The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1894-01-21
FINANCE AND COMMERCE,
New York Stock Market.

Anew L Ohht cons SOs@lL mas CGon
many week since Wall street felt as
cheerful as it did to-day. The tendency
of prices was upward, and the bulls
were in control from the opening to tie
close of tho session. The reaction in
the final trading occasioned no surprise,
as it quite often happens that small
traders take profits at the end of the
week rather than carry their contracts
over Sunday. The first thing to give
an impetus to speculation this morning
was the receipt Of higher prices from
London and moderate buying orders
from that center. The execution of the
latter developed the fact that there
were few stocks pressing for sale in the
local market.
The aid received from the foreigners
encour aged the bulls to take more
aggressive stand, and in a short time
they had the whole list on the up track.
There was n disposition to anticipate
the effect of the bank state ment, which
proved to DO most remarkable exhibit.
The increase in cash was Sl3, 768, 900,
and in surplus reserve SlO,17O,775, lift
ing the amount held by the banks in
excess of the 25 per cent. legal require
ments to the Unprecedented figure of
SlO2,754, 45O The natural presumption
Is that before great while this vast
hoard Of idle money will seek other
channels for employment, and that the
stock exchange will feel the benefit o.
this.
With money commanding only per
cent on call and or 3 per cent on
time, bank and trust companies prefer
to purchase thoroughly good bonds
which are obtainable at figures that
return per cent and over. Another
bull argument is the starting up OF the
mills and furnaces in vari JUS parts of
tho country factor OF considerable
Importance is tho improvemen t in rail.
road earnings. Thus far in January the
big systems have shown smaller fall
ing off in earnings than was the case in
Decent Der, and some of the sm aller lines
even show gains os compared with 1898
Net receipts will go up much better
than the gross, as wages are lower and
the companies arc saving money in other
ways.
All these matters have induced cor
tain operators to take hold Of the stock
market, and the concensus OF opinion
on the street is that liveiier condition
OF affairs will prevail in the near future
In the early morning Lake Shore rose
2h, Northwest rs, Burlington and
Quincy q. st. Paul Is, Rock Island 4,
General Electric e, Manhattan ~,
Louisville and Nashville x, Missouri
Pacific l, New Jersey Central, IL, New
York Central ~, Reading "a, Omaha
a, do preferred l3s, Western Union II,
Canada Southern l 4, Big Four Is, Della
ware and Hudson q, Michigan Central
|, Lead preferred Il, and Pittsbure and
Western preferred l. In the speciali-
ties Terre Haute preferred rose 1. To
ward the close Sugar weakened rather
suddenly on rumors of probable leois-
lation adverse to the company. The
stock declined per cent.
This, together with sales to realize
profits, led to reaction in the re-
mainder Of the list OF sol per cent.
from the highest. Speculation left off
ste ady in tone. The sales were 100, 900
listed and 90, 900 unlisted. Railway and
miscellaneous bonds were active and
strong Treasury balances: Coin, $780,
3O6,o COO; currency, S31,s7s, 900.
Money on call is nominally per cent.
Prime mercantile paper, 4@4N per cent
Sterling exchange is steady with actual
business in bankers bills at 4S4%@
1851 for sixty days and 4s6<@4s6% for
demand; posted rates, 4S5]4 @4e71f. Com
mercial bills, 4s4A@4s43s for sixty
days and 4s6@4s6& for demand. Gov
ernment bonds steady. State bonds
dull Railroad bonds active and strong.
Silver at the board heavy. 5000 ounces
selling at 81.