The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-12-30
After After Rising at One Time Almost Two
Points, Il Was Overcome by Heaylness.
WASA PROFESSIONAL TRADERS MARKET
Tobacco Was Notably Active All Day
and Rose Quite strongly on nm Ir.
responsible Published Report vhat
ti'e au"rtcriy Dividend llnd Bcon
8 Advanced on Common stock,

<' New York, Dec. 29.-Sugar was the
only one of the leading stocks of the
iist 10 show any aggressive strength to-
DAY, and after rising as one time al
most two points, 1t was overcome by
inc general heaviness in the rest OF the
market. and closed with only small
fractional net gain. 1t was a p:ofes-
4 sional traders market throughop:, and
the industrial stocks which had been
recent favorites with the bull clique
showed the effect of realizing to-day.
All OF the local traction stocks we're
heaVy, but the selling was no. coupled
with any news and the declines were
wholly technical. In Manhattan the
fall reached points and in Metropoli-
tan Street Railway l.iore than that.
Consolidated Gas is, 31s points lower
than laSs night. Tobacco was notably
active all day and rose quite strongly
on an irresponsible published report
that the quarterly dividend on the COM
mon stock had been advanced again TO
per cent. Disappointed holders sold
The stock down two points when it be-
Dame known that the rate was retained
at per cent. New Jersey Central and
the coalers generally did not escape the
weakness of the other speciatiies and
that showed sharp losses. An indication
OF the narrowness of the market wasthe
fact that until near the close ihe1e wns
not single sale OF such usuallyactive
stocks as Missouri Pacific and c. & o.
burlington showed n degree of firmness
in the railway list on buying invited
by yesterdays decline. The Buffalo,
Rochester All pittsbu:g stocks were
both conspicuous for strength, the COM
mon advancing two points and the pre-
ferred four points. Fractional net de-
clines, however. were The rule in the
railway list. To-day's clearing house
statement showed the Sub-trea sury q
debtor again to the extent Of Sl,l50. $50
u reflection of the additional redemp-
lions of Pacific bonds. Still the money
market declined to yield its firm tone IN
amy marked degree. and it WAS only in
exceptional cases that loans were below
BIZ per cent, and in some cases per
cent. was paid. Demand sterling also
hardened n shade to-day. Reportt;
from other domestic centres show THAI
their bank reserves are at present UNI
usually high, but exchanges continue to
run against New York. 1t was report
ed to-day, however, that Philadelphia
and Boston had repaid large leans a.
THE result Of the high rates here. The
large balances at the clearing houses
show that there is quite an extensive
shifting of loans stlll in progress. Psices
of Americans declined In London to-
day and selling here FOR London ac-
count was quite factor I'm the decline.
Activity in the bond market was con-
fined to middle and high grade issues,
the speculative issues being lstagnant.
Prices generally advanced. Total sales
s1.750.00O United States old IS ana the
new As registered were u lower. The
new is coupon were y lowe. ana tho
IS IA lower The total sales of stocks
tod ny wern 90 0On shares