New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-12-18
r., os,<c PRICES OF CHICAGO STOCK.
Thursday. December lip. m.

Thursday December lip m
The foreign exchange market was higher
again to-day demand sterling reaching ~ Sils.
and the opinion prevailed that gold exports to
Germany would be made by next Tuesdays
steamer At current rates there Will be no
profit in gold shipments TO Germany and II Is
probable that an inducement Will have TO be
made by the Imperial Bank Of Germany aside
from allowing interest on the metal while IL is
in transit The Berlin market needs money.
End of the year settlements make the foreign
markets demand for money more urgent, ana,
in view Of the difference between domestic and
foreign money rates. movement Of gold from
here TO Europe now seems likely unless checked
by heavy offerings OF accumulated bills held in
this city No uneasiness will be felt over an
outward movement. Of gold. for 1t will reflect
legitimate international monetary conditions.
serving to adjust rates here to a more health
full level and bringing about lower quotations
abroad thus giving both markets the bene-
fit of healthful International movement
Money in normal periods goes TO that centre
where the best rates prevail. and when rates
in New-York rule at per cent for call money
and little higher for time contracts. while at
the time London call money is 3's per
cent, with open market discounts little less
than per cent, and IN Berlin nearly > PEI;
cent, no surprise should be felt at god exports
despite the fac; that the international trade
balance is in our favor. An international move
ment of money rejecting norma! international
financial conditions has been rare oc-
currence In the last three years. and IFS reap
pearance at this period VIII be received WIN
general satisfaction in financial circles. Europe
no longer lacks confidence in the maintenance
Of standard OF value Holders abroad or
our securities longe: encourage gold exports
from here by liquidating their holdings. ana
foreign interests arc satisfied to look TO ms
market for fnancia! assistance The net god
OH trO nf he
and any movenien: OF the precious metal ABROAD
viii not impair the strength OF the gold reserve
The amount lost by gold shipments VIII De re-
gained with normal return flow OF IN" lnetai
at no distar. time London discount rates were
higher to-day. and there was goo1 demand
here for exchange on account OF January IN
accumulated sterling he'd for delivery in Jann-
ary have been sold in the last Few days ior
about 81 81. and with sterling rates advah,''l nS
IL seems more than likely that a good part OF
the sterling bought in the last month VIII come
on the market az soon as exchange rates touch
the gold shipping point.
Tho discussion OF the possibility Of gold cx-
ports had no unfavorab,c effect upon stock Val
ues as opinion favored moderate movement
of The metal abroad and holders OF STOCKS
realized that such n movement would not re.
feet conditions prevailing In recent PERIODS OF
gold exports. when credit here was impaired ana
foreigners were Withdrawing their capital Tor
reasons too well known to ennmeratc In the
early dealings there was considerable irregular
ity but subsequently strength prevailed ana
i've issues Traders and commission houses
bought and sentiment was improved by the an :
ncunccment that the Senate had adjourned until
Monday, thus postponing the possibility or dis
turbng talk on the Cuban situation IL Is en-
couraging to note that sense and reason are
more prevalent in Washington. and II Is proba-
bic that the Senate's adjournment until Mon
day together with the holiday recess. VIII give
the hotheads time for cooling and serve to i'm
press upon Senators the danger of any precipl-
tate action as to the Cuban situation. The only
notable weak features in to-days active list
were Manhattan and Western Union which de-
cIined under bear pressure. the frst-named
acain suffering from unfounded rumors about
the property. In the railway list there was
general strength the Changers gaining l2N1 per
cent and in the indus,rals Sugar refining.
American Tobacco. United States Rubber,
American Spirits preferred and Chicago Gas
made substantial advances. st. Paurs earnings
for the second week in December. which showed
a large falling off from recent decreases the
loss being only Sal $50 against $113. 90 for the
first week, had good effect upon the railway
list
Closing prices for the principal active stocks.
compared with the final figures OF yesterday
were as follows: