The age-herald., 1897-12-29
In Wall Street.


 New York, Dec 2S-'rhe bears in the stock market showed somewhat more con- fidence today and had some success in re- ducing prices. The most potent factor in their favor was the continued frmness of the money market, but much was made at one time during the day of the reported willingness of the secretary of the treas ury to resign his office. This report was exaggerated into story that the resgna- tion had actually been made and the effect was to precipitate a selling movement which was, however, confined to the pro- fessiond traders and which reached only moderate proportions. The market showed no change from it's recent holiday charac- ter. and it's semblance of waiting for con- ditions in the money market to become more defined and settled. Had 1t not been for the sustaining influence in one or two of the specialties, notably Manhattan Western Union and Brooklyn Transit. the scale would have inclined much more sharply to the side of depression. Third Avenue, which has been so prominent feature in the recent market, reacted five points today, and F., C.. c. and St. L. pre- ferred also fell conspicuously 23s in the late dealings. The Coalers were notably weak. Metropolitan Street Railway, which was dealt in ex-dividend of 1A per cent, showed some feverishness, but ended with q small net gain. Burlington fell nearly point below par in the face of a November statement showing an increase in net earn ing over last year of S329, ,7SS, even after the operating expenses of the road had been run up over $650,0 above last year. To- days clearing house statement showed the treasury department debtor on balance to the extent of s1177,234.
 Yesterdays Union Pacific payment for the reorganization committee found place in today's clearing house operations. It involved the payment into the sub-treas- ury of about $4,5G0 900 in cash. It follows that the sub-treasury paid out today over $5, ,500,G00 for redemption of Pacific bonds. By yesterdays and today's operations the government has supplied the money mar Iet with over $5,G0000O on balance. The tone of the market was not, however, markedly easy, loans being made, as on yesterday. all the way from BE to AZ per cent, with exceptions at the close at 3 per cent. Sterling exchange also continued steady. There are still several millions of the Pacific bonds which mature on Jan. l, and which are now available for redemp- tion under the governments offer, but it Is difficult to estimate how far the owners of these bonds will avail themselves of the governments offer. The frmness of the time money market for the shorter periods, the rate being 31a per cent from 30 to 90 days indicates belief that the rates may continue stiff after the first of the year. Tho demand for money in London and Ber- lin has it's effect in keeping up the ex- ,J,a ta Ia to ba not improbable that the Bank of England will advance it's minimum rate this week. It is in perfect confidence felt, however, that this would not avail to prevent a move ment of gold in this direction if any real stringency was threatened at this center.
 The bond market showed some irregular ity today sharp advances being shown in some issues, while others werc conspc- uously heavy. Total sales, g, ,oOcc00
 United States old As registered declined E. the new As registered A bid: the old 4s registered sold later at 1l2A, the asked price.
 Total scales Of stocks today 64,7Oo shares, including Atchison preferred. 4,765; c. B. & O., e6O; Manhattan, 5G,s65; Metropolitan, g. G55 Missouri Pacific, 3,01e New Jersey Gen. tral 44eo; Northern Pacific preferred, 7,S67; fIul, ioiEio, OHlOH IiCllc, f,lfU, Anerl- can Tobacco. Is ,GG5: Chicago Great West ern, S,537 Sugar. s0S5G; T. c. & l.. S.9SO; Western Union, g 5a5.
 Money on call firm at 2k93k per cont last loan, per cent: closed at 2la1i3 per cent.
 Prime mercantile paper, 3lGQ4A per cent Sterling exhange steady. with actual bus- mess in bankers bills at $isii:m4s4ls for demand and at si.811aQ4.s1A for sixty days. Posted rates. si.S21AG4.ss and <LS5ls4.4s6
 Commercial bills. s4SOAGlsl.
 Silver certificates, 56lhG5Sc.
 Bar silver. 562sc.
 Mexican dollars, 45ssc.
 Government bonds weak
 State bonds dull.
 Railroad bonds weak