The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-12-14
BUYING WAS VIGOROUS.
Market for Securities Offered Eyery'Ap.
pearancs Of Breadth and Strength,
WHOLE LIST STRENGTHENED BY SUGAR
The Government Crop Report stimus
hated tho Granges-Unlop Pacific
Showed n sharp Recovery from ITS
Recent Dcpreasion-NIetrop
Street Railway.

New York, Dec. 13.-The days mar
ket for securities offered every appear
ance Of breadth and strength, the buy
hS being vigorous and aggressive and
well distributed. The fact was not to
De ignored however, that the stocks of
Southern and Southwestern roads,
Which were the favornes with the bulls
last week, did not share in the advance
proportionately, the price being kept
down by liberal offerings. A decrease
In earnings for the first week in Decem-
Der reported for Louisville and a some
what unfavorable showing for the same
period by Chesapeake and Ohio may
nave accounted for this, but there was
suggestion OF proft-taking in the
movement Of these stocks in face of
the general strength manifest elsewhere
In the market. The jump in Sugar to
1f5A In the course of the first hour
stimulated the whole market. The dis
semin9tion of rumorS that an extra d.
vidend was again under consideration
was the instrument employed to effect
this rise, and the motive of IT appeared
IN the heavy offerings at the highest
.evel. The stock closed at net adj
vance Of over q point The Govern
ment crop report, with It's revised esti-
H'ate of wheat crop Of 530.000,000 bush
els, caused q lively outbreak of specu-
iation In the Changers, the high ruling
price for wheat, with this heavy yield
to draw on, being regarded as insurng
prosperity to the wheat-carryug rail-
roads. Still another element of
strength In the days market was the
jump in price Of metropolitan street
railway. This stock rose nearly S
points to 126, in strong contrast to the
persistent heavineas IN Manhattan,
which dropped G,o one time nearly 2
points ON account Of the published re-
ports That syndicates had already been
formed 10 finance the proposed under
ground rapid transit plan. Manhattan
fully recovered before the close and
shows n small fractional net gain.
Union Pacific showed q sharp recovery
from it's recer't depression on the
strength Of inspired reports that the
reorganization could be carried through
with moderate increase Of the pro-
posed Bonded Indebtedness and pre-
ferred stock and that the subsidized
portion OF the Kansas Pacific was not
deemed essential in the success of the
plan.
The days buying was in large part
professional and commission house bus
mess was on a small scale. LondCrl
was. however, a. liberal buyer of stocks
In this market. Quite q marked fea-
ture OF the day was the large number
of small lots of dividend paying stocks
which were bought. This class of buy
ing appeared in the gilt edged move
ment through the list of dividend
stocks. feature or the day was the
stlnenng of call lean rates to per
cent. though THE rate eascd off again
before the close
Net results of the days trading are
very uneven. net gains exceeding n
point In the Changers. the coalers and
Baltimore and Ohio, but showing small
fractions for the most part in the gene
raj list.
The bond market continued active
and strong, the Atchison and North
ern Pacific issues being prominent. Net
advances of from l to points were
shown In a number OF bonds. Total
sales, s2.S50,O0O
United States old As registered were
advanced &c. bid; do. coupon. &c. bid,
while the new As declined &c. bid
The total sales of stocks were $40, 500
shares