The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-12-24

rate next year would not be wholly sur
prising. There was a further sharp fall
to-day in China and Japan stocks but
Spanish and Turkish stocks were dis
tinctly better. Americans were good on
New York buying, a feature being the de-
mand for Coalers. but the close was un'
der the best. Grand Trunks We're easier. -
New York. Dec. 23-Several factors COM
bned in the last hour Of trading on the
stock market to-day to lift it out of the
dullness and the depression, which has
been its character all day and 10 raise
prices quite sharply above last nights
closing level.
One of these factors was the subsistence
OF apprehension earlier in the day. caused
by the closing of the Chestnut street bank
in Philadelphia. Another was he fact that
the Joint Traffic Association had succeed
ed in securing measures tending to secure
the restoration and maintenance of the es-
tablished tariffs on live stock and grain
from western points, and another the an
nouncement of the Treasury Department
at Washington that great amount of cur
rency IS were being offered for redemption
on Jan. l in connection with the govern
ment proffef to secure relief 10 the money
market, from the scarcity threatened by
the Withdrawals of the Union Pacific pay
ment to the government. Still another fac
tor was the news from Albany that the
railroad commission had extended by two
years, the period for equipping freight cars
with autonomatic couplings in New York
state n..sr
A number of the specialties, which had
showed marked strength all day took on
renewed buoyancy at the close and helped
on the rise. The movement in the general
list was not important, the trading being
in small volume and representing little
more than the covering Of traders short
contracts. Vanderbilt roads failed to make
1acf mi al
days depression, on account of the unfa-
vorable quarterly statements. Canada
Southern is u lower and Michigan Central
Ia lower on the day. Lake Shore was bid
down points, but without any transac-
ton. The days business however, was
largely absorbed by the specialties under
the influence of special causes.
Third avenue gained points on top OF
yesterdays rise of points. Metropolitan
Street railway rose an additional points
and Manhattan as much. Brooklyn Trans
dt, Sugar Peoples Gas and New Jersey
Central are over point higher. These Sc
curities not only show the large gains, but
absorbed the greater part of the days
business.
Call money loaned as high as AZ per cent
again, and did not yield below per cent
There is a further fall of a in the actual
rate for demand sterling, and of "a fol-
cables and long sterling Demand sterling
is now at the lowest point touched since
the gold import movement ia September
namely s4S4A.
The rates for money In London and Ber-
lin are stiffly heldand some apprehension
of squeeze before Jan. /, is reported from
London. This serves to offset the raise in
the exchange rates.
The bond market was active, but rather
heavy. Total sales 81, $4,000. United States
new is and old IS, registered, are u lower
and IS coupon Is lower bid
Total sales of stocks to-day. PIP, SOC
shares, including: 5,4s9 Baltimore and Ohio;
12,2S9 Chicago, Burlington and Quincy: A,
5io Manhattan; $500 Metropolitan Street
railway; CHA New Jersey Central; As, 52S
Northern Pacific preferred; $50 Reading;
$40 Rock Island; $3.50 st. Paul; 5.40j I'M
ion Pacific; 1910 Chicago Great Western;
$500 Peoples Gas; 20,020 Sugar