The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-12-25

FRIDAY. Dec. %.
1t 10 now practically certain that there will DO
no abnormal activity in the money market with.
in the remainder of tho year. When this fact
became patent to-day commission houses began
to buy stocks. and operators who favor the long
side Of the market became moro aggressive than
they have been for some time past. In conse-
quence the stock market was active and strong
throughout, and many stocks scored substantial
net gains. Tho weekly statement of averages
Of the Associated Banks, which was published
to-day because tomorrow was q holiday.
shows that the loans have been materially
increased and the holdings of lawful
money reduced incidental to the pay
ments to tho Government on account Of the
Union Pacific purchase. The surplus reserve
10 reduced to about $11, 500. 600. This showing
did not affect either the money market or that
for securities. because the Government dis
bursed to-day over &11, 900. 600 for the redemp-
ton of Pacific Railroad Aid bonds, and the
somewhat unexpected announcement was made
Of the shipment of 100000 gold from London
to this centre. Local traction stocks were
the feature of tho market. Manhattan
Railway. though dealt in less extensively
than yesterday. surpassed even Sugar
Refining In respect to activity. 1t closed
q little more than n point higher than
yesterday. Metropolitan street Railway was
oACoptlOuhliy uCLiF0 ~ u net ADVANCE OF
nearly 8 points. and closed at tho highest price
yet recorded for 1t. This movement was accom-.
panied by reports of the acquisition of now lines
above the Harlem River. The greatest net ad.
vance was that Of 7 points in Third Avenue
Railroad, which was traded in to the extent of
over 1000 shares. The benefits that tho com.
pany is expected to derive from a settlement of
It's fight with the Metropolitan Street Railway
Company are reflected in an advance of its
stock for the week OF % points.
Tho speculation in local traction securities
extended to Brooklyn Rapid Transit, which
received more attention than for some time
past. 1t Is now pretty well understood that all
OF the transportation companies doing business
in the Greater New York will receive favorable
consideration from the incoming municipal
| government. Other features of to-day's spec
ulation were sharp advances In Sugar Re-
filming, in National Load common. Colorado
Fuel and Iron. and Western Union. In
the Granger group c.. Is. and Quincy was
tho leader. The transactions were not only
| larger than for some days past. but they were
also much better distributed. and 1t is to be
noted that many of the usually inactive stocks
received noteworthy attention at advancing
prices. among them Brooklyn Union Gas. iii.
| nois Steel. Lake Erie and Western, Michigan
Central, and United States Leather preferred.
The trade reports for tho week are of an unusu.
ally largo holiday business. and they also toll OF
transactions In wholesale lines that arc even
more remarkable at this season. The foreign
trade situation continues satisfactory. with OK
ports OF merchandise largely in excess OF i'm
ports. An improvement in the iron industry
is to be noted, and that 1t is tangible Is shown
by higher prices for finished products. Within
the week both tho anthracite and bituminout
coal trades havo boen placed upon a better basis
| NkaG kauakn4oua and Nhana tu anunn t,u
in the trunk.line rate situation. The markets
for cotton and for manufactured products OF
that staple continue unsatisfactory, and are
about the only exception to the rule. The clos
ing Of the stock market was strong. at about tn,
best prices.
AZ compared with the final prices of last Sat
udAy, the majority Of stocks are higher, The