New-York tribune., 1896-01-01

ON THE STOCK EXCHANGE.

Tuesday December 3l-p. m.
With few exceptions stocks were strong ana
advancing to-day The volume OF business was
small. but fairly we'll distributed. the advance
being due to covering Of shorts and the POSITIVE
reports that arrangements for an issue or Gov
ernment bonds had been completed can money
was high again. the range being between and
% per cent with the majority of loans unoer
the highest figure There was the same activ-
ity In gold ds noted yesterday. The banks
are\looking out for the metal on account OF
the expected bond issue. and for the demand
which may be made for January interest dis
bursements in gold while individuals are buy
ing the metal in the open market in anticipation
of sharing in the forthcoming issue OF Govern
ment bonds Up 10 the close OF business there
was no intimation Of how soon the Admnistra'
ton will make public its intention OF again In
creasing the country's debt: but all doubt con.
cerning the probability of an issue was re-
moved by the formal applications made for par.
ticipation in the issue and the formal organiza-
ton Of a syndicate. which, II Is understood, Will
offer the Government 5.O75.oOO ources OF fine
gold absolutely. and 100000 ounces more pro-
visonalIy amounting in the first place to $780,
OOO 900 and altogether 10 $2O0OOOOoO In return
for 4 per cent thirty-year bonds. IL was learned
to-day that a firm In Wa-st would import
$500 900 gold from London to buy bonds witn
but 10 import this gold the bankers who sold
the exchange will probably have to export gold
to cover their bills 1t is interesting to note
that II the bond bill which has been passed In
the lower branch of Congress had been In force
during the period covered by the Democratic
Administrators three bond issues, the country
would have been saved In the time for which the
last three issues nave to run. about 900
In interest. The money which President Cleve-
land has borrowed during his administration.
aggregating $162 900 000 will cost the country In
interest about $l25.oco,oeO, while bends under
the bill which the Senate will take action upon
would. II that measure had been passed by the
last Congress. cost the country in interest only
s24 900 OOO Wall Street Is extremely optimistic
about the expected issue of bonds. but notwith-
standing this the majority OF thinking men In
passed by the House of Representatives fare the
same in the Senate and be approved by the
President, rather than see carried out the Presi-
dents scheme OF adding 500 900 or more to
to-day the countrys bonded debt has increased
SOS. 193 $50. and during President Cleveland's adj
mlnistration 1t has increased $162.602,245.
The bulk Of to-days trading in stocks was done
in Sugar Refining, st. Paul. Chicago Gas. Burling.
ton and Louisville and Nashville. all Of which
Shove substantial net advances. Elsewhere IN
the list transa ctions were small. but generally
az advances, which In some stocks reached -
high as 2ii per cent. Baltimore and Ohio.
Chicago Gas. Rock Island Burlington. Northwest.
Louisville and Nashville were all up 292h per
cent. The market closed strong and generally
at Tho best prices of the day. The close Of the
year In the stock market would have shown q
more favorable comparison with the same time
a year ago. had 1t not been for the panic follow
irg President Clevelands Venezuela message.
Prices received a severe setback and caused many
net declines for the year which otherwise would
have been gains largely increasing the number
of shares which already below their last
prices December 81 1894. Despite the panic. how
ever there many encouraging net advances
among the standard shares. and the general
course Of prices during the course of the year. or.
more exactly speaking. since the bond issue Of
last February. has been upward. There has been
little investment buying during the year, transac-
tions being almost entirely professional but
owners of securities have not rule let 60
Of any Of their holdings for the constantly In
prosperity OF the companies represented
by these securities has been such to na,ke the
holding OF stocks an object The best buying Of
the year was in the spring and Immediately after
the recent slump In prices.
OF the active stocks the most important net
advances scored In the year were by Atchison,
which gained loA per cent; Sugar Refining, 1Sx
Der cent: Jersey Central, 10h per cent: COnsoli-
lated Gas i7ia per cent: St. Paul, ~ per cent;
Denver and Rio Grande preferred. sN per cent;
lake Shore. per cent: Tennessee Coal and Iron,
25s per cent. and Wabash preferred. 10x per
,ent. The heaviest losses were made by Ameri.