The age-herald., 1897-12-25
Markets by Telegraph.

ment estimates that disbursements for re- demption of the Pacific bonds up to Dec. 27 will amount to $15,OOO0OO The payments heretofore made by the Union Pacific syn dicate to the government are still on de- posit in New York banks. It will thus be seen that the money market is guarded against disturbance of the Union Pacific after January, after which the supply of money will be replenished by dividend and interest disbursements. The care with which these large transactions have been arranged so as to offset one another is be- lieved to have assured the country's money supply against any violent and sudden fluctuations, but the loan rate is expected to hold firm at or above the present rate for several weeks. The marked weakness for foreign exchange, which is now at as low point as was reached during the gold movement of last September. has proved sufficient to bring gold, shown by to- days announcement of $5OO,OOO coming from London. In Nlew of the high money rate noted in the Berlin and London markets, this has. been something of surprise, though heavy import movement of gold later along was considered certain. In this connection it is to be considered that gold
  and now in transit from Australia, amounts to $l1, ,S75,0O0. This is in effect liquidation of Australian indebtedness to England by the payments of Englands debt to us.
 The bond market has been much more quiet this week than for some time and prices little changed
 Government bonds have been weak. The new As coupon are off IS do, registered l; old dtr Al,a
 Total sales of stocks today were 2S3 400 shares, including 2O,7SO Burlington; 44,0 Manhattan; 12,13O Metropolitan; 4,S10 Jersey Central; 3,s65 Missouri Pacific; 4yS7O North ern Pacific; 7,660 do preferred; 3,S0O Reading; 9,525 Rock Island; 7585 St. Paul; S,3S7 To- bacco; 6,775 Chicago Great Western; 1O,67O Peoples Gas; 3,310 Colorado r. & l.; 4,8OO Lead; 36,52O Sugar; 7,1S1 Western Union.
 Money on call firm, BOA per cent; last loan at and closed 21AD3. Prime mercan- tile paper 31s@4 per cent Sterling ex- change closed firmer, with actual business in bankers bills at 4S4%94S4A for demand and at 4.S1A@4S11k for sixty days. Posted rates 482@4S S3 and 4.S5Q4.S6
 Commercial bills 4SO1k. Silver certificates 571aQ5Sk. Bar silver 57A Mexican dollars 455sc Government bonds weak; state bonds dull; railroad bonds firm.
 Money will be replenished by dividend and interest disbursements. The accumula- tions necessary for these disbursements is still to be reckoned within the period before New Years. After that date the final pay ment of $S 800 900 by the Union Pacific com- mittee is to be made on Jan. 5. On the other hand, the government will disburse its interest obligations and redeem the re- mainder of the Pacific bonds. It is esti- mated that the government will have a credit balance after the clearings incident to the Union Pacific payment, the redemp- tion of the Pacific bonds and the payments of January interest of nearly $2O,00O.0OO. which will be for the time being on de- posit on New York banks. This balance will be subject to withdrawal from the money market or to tn contingencies of a possible continuing deficit in the govern ment revenues