The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-25
GOLD ON ITS WAY
ANNOUNCEMENT OF THE ENGAGE
MENT OF HALF A MILLION
FOR IMPORT.
FALLING IN THE RESERVE.
FEATURE OF THE BANK STATE
MENT THAT AFFECTED SPEC
ULATION IN STOCKS.
EARLY BULGE THROUGH THE LIST.
Net Gains the Rule, In Spite of a
Fall From the Days High
Point.
EARLY BULGE THROUGH THE LIST,

NEW YORK, Dec. A.-The local street rail-
way shares which have been such a notable
feature in the stock market all week, opened
with further bound upwards this morning,
and, though there were sharp reactions dur
ing the day proit-taking, these stocks
closed at the highest. Third Avenue added
points to its prices, making gain OF Y
points for the week. The weeks gains were
also extended to Metropolitan, s12. and in
Manhattan to SIS. The great buoyancy
spread through the list, reaching first the
securities of other local corporations, then
the industrial specialties generally, and final
ly the railway list. Prices in the industrials
and in the grangers were 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 the rule. During the after
noon the market took on a distinctively hol-
iday character and fell at times into stagna-
ton. prices yielding sharply, but being re-
stored by the final stffening in Metropolitan
and Third Avenue. There was no particular
news to account for the movement of prices.
though the bank statement, with its further
decrease of over $4,000. 600 in the surplus re-
serve had the effect Of checking the activity
in the market for the time being. In fact
the market did not take on the same ANNA
even when the announcement was made OF
the engagement for shipment from England
by tomorrow's steamer of $500 900 In gold.
The bank statement was about what was
expected and reflected a portion of last
weeks Union Pacific operations not included
in last weeks statement. The heavy bal
ances, over 100000 in todays clearing
house statement. undoubtedly reflect oper-
ations in connection with Mondays pay
ment of So, 500 COO account of the Union
Pacific sale. The days shipment of gold
while it indicates certain relief available in
case of undue stringency in the local money
ness of money rate is likely to endure for
a comfortable time without relief. 1T has
come to be generally recognized that large
imports of gold will be necessary to settle
our existing balance with Europe, as the
expected import movement of merchandise
does not develop. But the present hardness
of money here, it supposed, would be of
short duration. and would thus defer the
gold movement as long as high rates continue
was expectation, after today's engagement
was announced. that there would be further
gold importation next week.
Total sales of stocks today were 2S3, 400
shares, including: 2O.7S0 Burlington, 44,C55
Manhattan, L, 1870 Metropolitan. 1855 Missouri
Pacific 4,S10 New Jersey Central, 1870
Northern Pacific 1850 Northern Pacific pre-
st. Paul. 1887 Tobacco, 6,775 Chicago Great
Western, 1870 Peoples Gas, 3,31O Colorado
Fuel & Iron, 1850 Lead, $500 Sugar, 7,lS1
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