The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-12-28
THE LCHlNA STORY NIL
GALL, LOANS LIVELY AT FOUR
PER CENT.
THE PACIFIC BOND REDEMPTION
Oriental War Talk Loses its Force in the
Weat pit.-Cotton Exchange Closed-'
CO Dry Goods Trade Small Waiting
For New Year.

New York, Dec. 27.-The only active
interest in todays stock market was
manifested by professional traders ana
Ghey devoted themselves almost alto
.nether to the recent speculative fayorites
of the market which are comprised III
the group known as the specialtles ana
more particularly the stocks of local
corporation and traction companies. Inc
tone of the trading was unsettled ana
at times decidedly feNsrish. Ihe
.strength of the specialties caused
strong opening and upheld prices IN the
general market so far as theTe was
INV, movement. A marked weakening
In Sugar and q general movement TO
aealize due to the continued STIFFNESS
of money and to some extent to express
apprehension over the threatening de-
yelopments in the far east earned prices
Selow last weeks level where they re-
NAMED, in the case of many eaulhs
stocks, until the close. To-Day was
hogaany in London and there were no
0rotasions for British consois the ac-
cepted barometer of European pontlcs.
Where were, however, trading on the
a,nfinefale bourses, and reports from
Crehension over the outlook In emma.
ehcre were some railroad stocks when
showed exceptional movement. One
of these was G.. and O., which last
bought heavily by leading bull opera
for. and which advanced nearly point.
The third week statements at mana
II Southwestern railroads were not
very favorable, notably that for Kan
las and Texas. which showed decrease
Of S23. 4aS and for St. Louis Southwest
>rn with falling Of Of over @2O,oo1
as compared with last year. The sltua-
fon in the money market hinged ON the
Union Pacific payment and the Pacihc
bond redemption. The sub-Ireasury 5
debit balance at the clearing house today
was S4.357. 1888, and this about repre-
sented the government checks for re-
.deeming the Pacific bonds which have
come through the banks. More were
coming today and the government Is
still sending out checks from Washing
ton for the further payment. but
money from this source had not come
back into the market with SUFFICIENT
freedom to prevent its feeling today
Union Pacific payment to the govern
ment Of about SS.5uJ,OO0, even though
100000 of this is left by the govern
nent on deposit in New York.
There was considerable calling OF
Aoans today and the rate paid to replace
Them ranged from OH to Az per cent
with the majority at a per cent. There
was a rise also in the rates of sterling
exchange today which precluded the
idea of any immediate further gold inn
ports. In the final dealings there We're
some sharp reactions in the specialties
and the coalers which wiped out all the
previous gains and in some cases lett
prices materially lower. r.
The tone O. the bond market was firm
and in some cases sharp gains were
shown. Total sales $1,600,O00.
United States old As registered were
" lower bid.
The total sales OF stocks today was
2S7, 400 shares, including the following:
Chesapeake and Ohio, 9,193; Chicago,
Burlington and Quincy, 27,766; Louis
Vile and Nashville, 5000; Manhattan
L., 1925; Metropolitan Street Railway,
0,617; Missouri Pacific, 500; Northern
Pacific, preferred, $3.50; Rock Island,
6,645; st. Paul, 9,154; American To-
bacco, 4,z40; Bay State Gas, 8,172;
Chicago Great Western, 9,668; Lead,
3,445: Sugar, 44011; L. G. and l., o.
$40; Western Union, $3.50.
INV YORK MONEY.
NEW YoRg. December 27.--Money on call
firm at fa4 per cent: last loan per
cent. closed at 3C03k per cent. Prime mer-
camille paDar 3ka4x per cent. Sterling ex
cnsnra firm with actual business in
bank srs' hllis at 4s44 atSi4 for demand, and
lAIkaasix for sixty days Posted rates s.s2k
aL83 and ts5ka4.85 Commercial bills 4sI
Silver certificates b7as8 Rar silver SIX.
Mexican dollars 45% Government bondS
easier. state Donds Gull Rail Dad bonds
st1ong.