New-York tribune., 1895-12-17
CLOSING PRICES OF CHICAGO STOCKS.
ON THE.STOCK EXCHANGE.

Monday, December l6-p m
Trading in stocks somewhat more spirited,
and tho volume of business was better distrib-
Nted. There some improvement in commits
sion-house buying but most OF the advances
scored were due to an extensive covering of short
contracts With the exception of the industrial
shares. all the leading active stocks scored net
advances the Changers. Manhattan Elevated
and several Of the coalers enjoying the greatest
degree of gain. The public announcement of
the Reading reorganization plan was not made
until the close Of business. but the knowledge
that IL would be given out in the course OF the
day was general, and speculative tempera ment
favorably influenced before the actual pub
1ication OF the reorganization scheme. A sum-
mary OF the plan is printed In another column.
Reading general As and stock were strong while
Jersey Central up over l per cent. Profits
were taken In American Tobacco on its advance
Of Saturday. resulting In decline Of over per
cent and the rest Of the Industrial group moved
in sympathy Manhattan actively traded in
for both accounts. 1t advanced per cent above
Saturdays last price, but no explanation
given which accounted for the sudden move
ment. There may have been some inside sup.
port and traders may have bought it on ex-
pectations Of better financial statements in the
coming year, when interest charges Will be re-
duced by the retirement Of the New-York El6-
waited Railroad first mortgage per cent bonds,
which Will result In net saving In interest OF
s23S 900 d year. Active stocks which scored
gains Of ! per cent and over were Canada
Southern, Jersey Central. Rock Island. Denver
and Rio Grande preferred Manhattan Kansas
and Texas preferred. Reading. and Tennessee
Coal and Iron. The Withdrawals OF gold for eX
port % Germany by to-morrOw's steamers, which
amounted 10 s3.1s0.000. were without effect in the
stock market: but there was considerable talk
about a bond issue. which Wall Street believes
will be made at late date. To-days gold
Withdrawals reduce the net gold holdings of the
Treasury 10 $72.s24. 766.
Secretary Carlisles report had no effect upon
stocks or sentiment. 1t is doubtful II the whole
document was read by the majority OF men In
the Street, and il is extremely improbable that
his estimates bearing upon future revenue Were
taken seriously. The Secretary is a poor guess
or. In his report last year ne estimated that the
deficit for the fiscal year ending June 80. 1895,
the fiscal year 1885 would show surplus of
S2S sl49 go. His estimate for the last fiscal year
was over $23 OOJ short Of actual figures For
the current fiscal year he reduces his estimate
made last December and figures out deficit,
instead Of IA surplus. Of over $l7,0O0.O0O. The
actual deficit 50 far this year Is above SlS.OOOOO0
For the fiscal year ending in June, 1897. the
Secretary guesses there Will be surplus ag
gregating S1,00D.OO0 TIE deficit for the last two
fiscal years and far this fiscal year aggrc-
gates $3.50 100000. but despite this condition OF
affairs the Secretary sees comfortable surplus
In the future from the operations Of the Wilson
tariff law. His reasoning the legal-tender
note is similar 10 that in his public speeches re-
Gently made in this city and Boston. According
TO his ideas ordinary business could be conduct
ed successfully with expenditures exceeding re-
ceipts: houses which could not show a surplus
revenue would receive loans from the banks
their Dape.. and firms credit would not de-