The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-28
TONE OF SPECULATION UNSETTLED
AND THE DAYS NET RESULT
MIXED.
INTEREST WAS PROFESSIONAL
STRENGTH IN SPECIALTIES UP
HELD PRICES WHILE THERE
WAS ANY MOVEMENT.
CONSIDERABLE CALLING OF LOANS.
Situation in the Money Market
Hinged on the Union Pacific
Payment-BOnds Firm.

NEW YORK, Dec. N.-The only active
! interest in todays stock market was mani
tested by professional traders and they de-
voted themselves almost altogether to the
recent speculative favorites Of the market,
which are comprised In one group known as
the specialties and more particularly the
stocks Of local corporations and traction COM
panies The tone of the trading was unset
tied and at times decidedly feverish. The
strength Of the spcialties caused a strong
opening and upheld prices in the general
market so far as there was any movement.
A marked weakness in Sugar and general
movement to realize, due to the continued
stiffness Of money and to some ex-
tent to expressed apprehension over the
threatening developments in the far East
carried prices below last weeks level, where
they remained in the case of many stocks,
until the close. Today a holiday in
London and there were no quotations for
British consols, the accepted barometer Of
European politics. There was, however, trad
ing on the continental bourses and reports
from there did not indicate any acute ap-
prehension over the outlook in China
There were some railway stocks which
showed exceptional movement. One of these
was Chesapeake & Ohio, which was bought
heavily by leading bull operator and which
bonds of this company were also in coed
demand and advanced IL per cent. st.
Paul's earnings for November, showing an
increase of $214,7S7, failed to sustain that
stock, which shared in the heaviness Of the
whole granger group, except Burlington,
which was particularly active The third
week statements at hand of Southwestern
railways were not very favorable, notably
that for Kansas & Texas which showed
decrease of $243, 493, for st. Louis & South
western, with falling off of over $4,000
as compared with last year.
The situation in the money market hinged
on the Union Pacific payment and the Pa
ciic bond redemption. The sub-treasury' s
debit balance at the clearing house today
was 81, 357 1913 and this about represented
the government checks for redeeming the
Pacific bonds, which have come through the
banks More were coming today and the gov
eminent is still sending out checks from
Washington for the further payment. But
money from this cource had not come back
into the market with sufficient freedom to
prevent its feeling today's Union Pacific pay
ment to the government OF about So,50O,VOo
even though 100000 of this is left by the
government on deposit in New York There
was considerable calling Of loans today and
the rate paid to replace them ranged from
There was rise also in the rates of sterling
exchange today, which precluded the idea
of any Immediate further gold imports. In
the final dealings there was some sharp
reactions in the specialties and the coalers
which wiped out all the previous gains and
In some cases left prices materially lower
Manhattan was a notable exception, closing
near the top at net gain Of 25s. Most gains
and losses in the general list were rather
narrow and mixed.
The tone of the bond market was firm and
in some cases sharp gains were shown
The total sales were $1,000 600. U. S. cd
As reg were rs lower bid.
Ttoal sales of stocks today PSI, 400 shares.
including 9,193, Chesapeake & Ohio; 27,S5S,
G.. B. O.; $780, L. & n; 57,226 Manhattan;
pfd; 1880, Reading; 6,645, Rock Island; g.
154, st. Paul; 4,240, Tobacco; 9,66S: Chicago
Great Western; 3,445 Lead; 44,011, Sugar;
9.94O, T., C. & l.; $3.50, Western Union.
The following were the fluctuations Of the
leading railway and industrial shares fur
nished by c. H. F., Smith & Co., members
New York stock exchange and Chicago board
of trade: