The daily morning journal and courier., 1895-12-24
Es Ei,nanr,aI.
Thero Was no Decided Saain in Prices on
 tho Exchange

the Exchange.
 New York, Dec. 2S.--Wall street breathed freely to-day and there was in corseQuence a decided gain in prices. The market received its first impulse from London, where American secur- ities opened with gains extending to ? per cent. in some instances. Our market followed quickly, and in the initial trading sharp rises were recorded in the entire list. Buying orders on a large scale then made their appearance in the market, and steady appreciation Of values followed The buying was stimulated by the action of the New York Clearing House association which decided at a 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 importance to the street.
 Almost simultaneously with the off cial announcement of the clearing house action there were heavy offerings Of money by J. Pierpont Morgan & Go, FloWers6s 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. on the regular dividend payers, and finally fell to 3 per cent. "A feature of the days busi- ness was the picking up of stocks for cash. The fact that the settlements a the stock exchange clearing house pass ed through successfully and a belief that President Cleveland will act promptly in the matter of TepleEishing the gold reserve in case congress should delay, both acted as a sustaining influ ence. Late in the day the failure of H. l.. Langhaar was announced, but this had no effect as it is generally believed that it's liabilities are small
 The improvement in prices ranged from | to g per cent, and at the close the gain was well maintained. The im- portant advances follow: Pullman Palace rose 9 to 155, Consolidated Gas IS to 1461a, Rubber preferred S1a to S5, Lake Erie and Western preferred 61a to 67As, Metropolitan Traction 6 to 9S, At chisonf preferred As to 211a, Rock Island GIL to 6514, Sugar f to 97, Sugar preferred 21s to 95 Alton and Terra Haute to 60, Tobacco 3 to T27s, Bay State Gas 3M t5 209i, Big Four 3 to 5, Burlington and Quincy 35s to 75gs, Chicago Gas 61a to 64112. Northwest 2 to 97, St. Paul AZ to 651a, Colorado Fuel 3M to "A, Lacka- wanna to 161, Delaware and Hudson 3A to 123, Denver and Rio Grande pre- ferred 3M to ASA General Fl sctric 23s to 251a, Iowa Central preferred 3 to 26, Lake Shore 2& to 142% Louisville and Nashville 21s to 437s, Manhattan 2M to 1011s, Kansas and Texas preferred 4 to A, Missouri Pacific 2A to 2314, Lead to 24l5, Lead preferred 4 to S21a, Jer- sey Central 6 to 99 New York Central to STE, Pacific Mail to 261a, Southern Railway preferred 2 to 251a, Omaha 4 to 36, Tennessee Coal 2 to 26, Cordage guaranteed 5t4 to 19M, Leather pre- ferred to G3, Rubber common 3a to 27, ard Western Union 2M to 35%. Spec ulation closed firm,
 Railway and miscellaneous bonds were irregular, but in the main firm. The mortgages which suffered severe losses last week scored reeoveries of i @6 per cent. The total sales were s. | 201 ,000.
 | Following are the closing prices re- ported by Prince &s Whitely, bankers | and brokers, 46 Broadway, New York, and IS Center street, New Haven: