St. Paul daily globe., 1895-12-27
c0uH)RS|T III. M TONE. ! !
*
! H6w&T "
SHARP RISE IN STOCKS AND AN I'M
PROVED FEELING ALL
AROUND.
EXPECTATION OF NEW BONDS.
GREAT INCREASE IN THE EARN
INGS OF GRANGER RAIL-
ROADS.
DO SOME BUYING.
An Afternoon Reaction Followed by
Substantial Recovery Before
the Close.

NEW YORK, Dec. 26.-The resumption OF
business after the holiday was marked by a
sharp rise in values in the early dealings
on the stock exchange. The confident tone
was mainly attributable to the expectation
that the treasury will be strengthened by an
issue of government bonds. In the best In
formed financial circles these views find ac-
ceptance, but so far the only people whose
statement would carry any conviction are
mute on the subject. 1t is not believed that
a strictly gold bond bill can be got through
the senate and accordingly the impending
issue will be under the same authority as
the two last. Reports of any present or re-
cent offer by Russia to take our, government
bonds or loan gold to the United States
treasury are authoritatively denied
Other favorable influences were money
rates at the legal figure, and favorable re-
ports of railway earnings for the third week
in December. The st. Paul for the period
mentioned shows an increase in gross earn
ings of $159,54S, and for the month OF Nc.
yember increased gross SS97, ,654 and net So6i,-
672 These factors caused decidedly improved
sentiment, resulting in advances in the gen.
cral list Of from l to 3 per cent, with all the
leading stocks participating. An extreme
rise OF Az in Lackawanna, in the race OF
demoralized market for anthracite coal. due
to the unreasonable weather. was set down
to the covering Of short contracts. NO quota
tions were received from London, owing to
the GAlSNCGu CllIiSlludS HCliudy dI tueit Wi
ter, but foreign buying. orders were executed
on this market to moderate extent me
upward movement came to halt soon after
the expiration of the first hour, and in the
ensuing dealings sales were recorded at ng-
ures close to Tuesdays final prices. In.
some instances transactions were noted be-
low that days closing, particularly in Read
ing, Burlington, Manhattan and Leather pre-
ferred.
The reactionary movement was on selling
for both accounts A sharp recession oc-
Cured in the rates of sterling, exchange on
the sale Of gold bullion, and to revived. talk
Of gold exports by Saturdays steamers. Up
to the close of business no engagements had
been made, however. No APPLICATIONS for loan
have been made or are expected to be re-
ceived from the banks OF by the clearing
house committee, until after the close of the
year at the earliest The pressure to sell
subsided around delivery hour, and under
the leadership of Sugar, prices took an up
ward course The improvements, however,
as a rule did not exceed fractions. Sugar
was in brisk demand in the final dealings and
rose to 1887, a net gain of 36s per cent. The
rise was credited to an advance in the mar
ket for domestic refined sugars and to the
alleged proposition of the Cuban revolution
airy leaders TO destroy the sugar crop of that
island. The closing was. quiet and steady,
at slight gains in most cases.
The total sales of stocks today were 314,69O
shares including American m gde Sugar 72400
Burlington, 12.1oo; Chicago Gas, $500; Dis
tilling, $500; Kansas & Texas preferred, 5 900;
Louisville e Nashville, $500; Missouri Pa
eiGc, 100; Northwestern, 800; Reading
9,7OO; Rock Island, 11,2CO; st. Paul, 44,200;
silver certificates, 10000; Southern preferred
5000; Tennessee coal, 6.7G0; Leather pre-
ferred, 1920; Wabash, 5000; Western Union,
$500; Wheeling G Lake Erie, 5000.
In the bond market the upward tendency
which characterized the close On Tuesday
was resumed in. the early dealings today
ton in the stock market. prices receded
sharply, and the closing tone was heavy.
The following table shows the fluctuations
of the leading railway and industrial stocks
Yesterday: