Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-12-16
MARKET REPORTS.
ne Fsassrss d tie Days Dealings IN All
~' tho lssllns stsels.

New York, Dec. 15.-Todays stock mar
ket was largely professional and In tlif
contest between the bulls and bears the
former enlisted themselves under Inc
banner Of the Coalers and the latter made
the local traction stock their main Doin,
of attack. The fortunes OF battle seemef
to shift several times during the dav. ani
in the middle Of the afternoon. the hulI,
seemed to have gained a decided adyan
| tage. the earlier marked losses in some
special stocks having been almost entirel,
wiped out and the bears apparently
| driven to cover But in the last honr ~
The trading n large number of loans were
suddenly called in, and in replacing then
the call loan rate stiffened sharply to !.
per cent, at which rate a large amour,
or money was placed. This induced LIQUID.
alton. especially in stocks which Welded
profit on the days advances. The bears
thus encouraged renewed their attack on
the specialties which had enErossed theiI
attention all day. and uncovered stop loss
orders on the way down.
AS a consequence. the tide of battle was
thrown completely and victory lay with
the bears Some small part OF the DAYS
large gains were left in some stocks
which had shown most early strength
but in other leading shares gains were
completely wiped out and were replaced
by losses. The scarcity Of money is due
to operations looking to the payment, to-
morrow. of an installment of about s.,
5OO,0O0 on the Union Pacific sale The pre-
vious payments on this account, amount
ing to over $290O0.000, have been left on
deposit in New York banks. but tOmor-
rows payment will go direct into the
treasury and be removed from the money
market.
Two additional payments of an equal
amount remain to be made, one on Dec.
q and one on Jan. ., and these will also
go directly into the treasury The nav
ment by the government on Dec. "a of the
maturing Pacific bonds. which amount to
over. $29. 100000, will be made by checks.
presumably on the New York deposits to
the governments credit.
The tone of sterling exchange was
somewhat easier, today. but did not re-
spond in marked degree to the harden
ing of the money market. Time money
for the shorter periods also stiffened APP
probably. The early strength in today's
stock market was aided by the upward
cific stocks were also centers of strength.
the preferred advancing at one time 1ss
and the common nearly a point.
Atchison preferred was also up over Il
point at one time. The rise above par of
Burlington was a further feature The
~ per cent in c. c. c. & st. L. pfd. was
n feature of the day. as was the l per
cent. dividend in Southern pfd. Sugar
was traded in ex-dividend and at one
time CURING the Gay showed recovery
Of one-third of the dividend, but in the
later dealings it succumbed quite easily
and lost over two points on the day. Nor
folk & Western pfd. which was at one
time nearly three points higher. shows
a net gain of is.
The bond market was somewhat less
active than Of late and the active list was
only about steady. Some OF the high
priced issues showed sharp advances.
Missouri Pacific collateral SIS lost 3 per
cent. Total sales. s.. 10000. United States
new As declined IL bid