Birmingham state herald., 1895-12-24
Boys and Children's {

its first impulse from London where Ameri- can securities opened with gains extending to 26 per cent in some instances, Our mar ket followed quickly, and in the initial trad ing sharp rises were recorded in the entire list. Buying orders on a large scale then made their appearance in the market and a steady appreciation in values followed. The buying was stimulated by the action of the New York Clearing House association, which declared at meeting held at noon to issue loan certificates if required. This means that no brokerage concern with anything like marketable collateral need pay fancy rates for money and is of the greatest im- portance to the street. Almost Simutane- ing house action there were heavy offerings of money by J. Pierpont Morgan & Co.,, Flower & Co. and other prominent firms, and call loans, which had commanded as high as 75 per cent on pledge of fancy stocks as collateral dropped quickly to per cent fell to Der cent A feature of the days business was the picking up of stocks for cash. The fact that the settlements at the stock exchange clearing house passed through successfully, and belief that President Cleveland will act promptly in in case congress should delay. both acted as a sustaining influence. Late in the day the failure of II. l.. Langhaar was announced, lieved that the liabilities of the concern small. The improvement in prices ranged from to per cent, and at the close the gain well maintained. Pullman Palace rose 3, Consolidated Gas s. Rubber preferred Metropolitan m r Traction % 6, Atchison preferred AZ. Rock Island 6A, Sugar 1. Sugar preferred 2h Alton and Terre Haute 8, Tobacco 3, Bay State Gas 3A, Big Four 3. Burlington and Quincy 35s, Chicago Gas 612. Northwest 2, St. Paul 419, Colorado Fuel 3s4, Lacka- wanna 5, Delaware and Hudson 3A, Dem yer and Rio Grande preferred 35s, General Electric 2s4, Louisville and Nashville 2B Manhattan 2A, Kansas and Texas preferred 3, Missouri Pacific 2A, Lead f. Lead pre- Central 3, Susquehanna and Western pre- ferred 1, Pacific Mail 4 Southern railway preferred ?, Omaha 4, Tennessee Coal g. Cordage Guaranteed 2A, Leather preferred 3, Rubber common 3A and Western Union PA Speculation closed firm. Total sales were 392, 7gS shares, including 49,200 shares of St. Paul, 3S.000 of Sugar, 21,600 of Chicago Gas, 19.100 of Atchison and 16,90O of Bur lngton and Quincy
 Railway and miscellaneous bonds were ir- regular, but in the main firm. The mort gages, which suffered severe losses last week, scored recoveries of 106 per cent The total sales were $3,2gf GOO. In government bonds 50000 coupons 5's brought 1121a4112 or a decline of la per cent.
 New York, Dec. 23.-Money on call was active at 315 per cent, last loan at 3 per cent and closing offered at per cent prime mercantile paper 41aq5h per cent. Bar silver, 65l2c.
 Sterling exchange was firm, with actual business in bankers bills at $f.S%iQi.SS for sixty days and $4.S9A0t4.S S9i5 for demand; posted rates, $4.SSisal4901s.
 Government bonds were weak. State bonds were quiet.
 Railroad bonds were firmer
 Silver at the board was steady. Treasury balances--Coin, $7 9S1, 23S: cur rency, $100. .40Sy17.