The daily morning journal and courier., 1897-12-25
EtmaMClal.
New York Street Railroad Shares Take
 Further Bound in Stock Market.

Further Bound in Stock Market.
 New York, Dec. 24.-The local street railway companies shares, which have been such notable feature in the stock market all the week, opened with a further bound upwards this morning and, though there were sharp reactions during the day on profit taking, the stocks closed at the highest. Third l Avenue added seven points to it's price, making gain of 22 points for the week. | The weeks gains were also extended in Metropolitan to S1a and Manhattan to 5B. The great buoyancy in these | specialties this morning spread through the list, reaching first the securities of other local corporations, then the indus trial specialties generally and finally the railroad list. The level of prices in the industrials and in the grangers was at one time from 1 to points above last nights close The high point was not fully maintained at the close in the general list, but substantial net | gains are the rule. During the after noon the market took on a distinctively holiday character and fell at times into stagnation, prices yielding sharply, but being restored by the final stiffenng in | Metropolitan Street Railway and Third Avenue. There was no particular news | to account for the movement of prices l though the bank statement, with it's further decrease of over $4, 900 900 in the l surplus reser es, had the effect of l checking the activity inithe market for the time being. In fact, the market did not take on the same animation during | the remainder of the day. Even when | the announcement. was made of the en- gagement for shipment from England | by to-morrow's steamer of s500,000 in l gold. The bank statement was about what was expected and reflected a DOT tfon of last weeks Union Pacific opera | ton not included in last weeks state ment. The heavy balances of over $9,- 00O,C00 in to-day's clearing house state ment undoubtedly reflect operations in connection with Mondays payment of | SS,50O,O0O on account of the Union Pa- cific sale. To-day's shipment of gold | While 1t indicates the certain relief | available in case of undue stringency | in the local money market, also indi- cates the belief that the present hard ness, of money rates is likely to endure for a considerable time without relief
 It has come to be generally recognized
 that large imports of gold will be neces- sary to settle our existing trade balance With Europe, as the, expected import
 movement of merchandise does not de- | velop. But the present hardness of money here, it was supposed, would be of short duration and would thus de-
 fer the gold movement as long as high
 rates continue togbreyail in London and
 Berlin. There was expectation after to-
 days engagement was announced that there would be further gold importation
 next week.
 The bond market has been much more
 quiet this week than for some time and
 prices are little changed
 | Government bonds have been weak.
 The new fours coupon are off 1h, the
 new fours regular l, old fours regular
 F, and the fives ss.
 Following are the closing prices re-
 ported by Prince & Whitely, bankers
 and brokers, 46 Broadway, New York
 and 15 Center street, New Haven: