The daily morning journal and courier., 1897-12-14
Fstuanctal.
Days MI arlset for Securities Offered Every Appearance of Breadth and Strength.

Days Market for Securities Offered Every
 Appearance of Breadth and Strength.
 New York, Dec 13.-The days market for securities offered every appearance of breadth and strength, the buying be- ing vigorous and aggressive and well distributed. The fact was not to be ig- nored, however, that the stocks of southern and southwestern roads which were the favorites with the bulls last week, did not share in the advance proportionately, prices being kept down by liberal offerings A decrease in the earnings for the first week in December reported for Louisville, and a somewhat unfavorable showing for the same per- iod by Chesapeake and Ohio may have accounted for this, but there was sug- gestion of profit-taking in the move ment of these stoecks in face of the general strength manifest elsewhere in the market. The jump in Sugar to 145A in the course of the first hour stimulat- ed the whole market. The dissemina- tion of rumors that an extra dividend was again under consideration was the instrument employed to effect this rise and the motive of it appeared In the heavy offerings ay the higher level. The stock was supported, however at a certain stage of any decline all day and | closed at a net advance of over a point. I The government report with its revised estimate of wheat crop of 530 GOO, 900 l q | speculation in the grangers, the high 1 ruling price for wheat with this heavy yield to draw on being regarded as in-
 surfing prosperity to the wheat carrying
 railroads. Still another element of
 strength in the days market was the | jump in price of Metropolitan Street Railway, this stock rising nearly , | points to 125, in strong contrast to the 1 persistent heaviness of Manhattan,
 which dropped at one time nearly 3 | points on account of the published re-
 ports that syndicates had already been
 formed to finance the proposed under 1 ground rapid transit plan Manhattan
 fully recovered before the close and
 shows a small fractional net gain. Un- ion Pacific showed a sharp recovery 1 from it's recent depression on the | strength of inspired reports that the | Reorganization could be carried through with g. moderate Increase of the propos- ed bonded indebtedness and preferred
 stock, and that the subsidized portion 1 of the Kansas Pacific was not deemed
 essential to the success of the plan 1 There was some heaviness in local gas
 securities owing to current rumors of
 difficulties in the way of the proposed
 amalgamation of local companies The
 days buying was in large part profess
 sional and commission house business
 was on a small scale. London was,
 however. quite a liberal buyer of stocks
 in this market Quite a market feature of the day was the large number of l small lots of dividend-paying stocks
 which were bought This class of buy ing apepared in the gilt-edged invest | ment stocks which rarely move, but
 was aso manifest all through the list
 of dividend stocks. A feature of the
 day;was a stiffening of call loan rates
 to 3 per cent. though the rate eased off
 again before the close. The rise in the rate was attributed to sudden and | rather urgent demand while offerings
 were rather light, for the time being. l Other departments of the money mark
 ct were unaffected. Net results of the
 days trading are very uneven net gains exceeding point In the grangers the coalers and Baltimore and Ohio, but
 showing small fractions for the most I part in the general list.
 The bond market continued active
 and strong, the Atchison and Northern
 Pacific issues being prominent. Net
 advances of from 1 to 2 points were shown in 8 number of bonds. Total
 sales E, ,S50,O0O United States old fours registered were advanced fl bid Unit
 ed States coupon fours E bid, while the
 new fours declined Is bid.
 Following are the closing prices re-
 ported by Prince & Whitely, bankers
 and brokers 46 Broadway, New York
 and 15 Center Street, New Haven:
 Bid. Asked Adams Express Co .......- 15R 1Rn