The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-24
RISE IN SpEcIALTIES
SEVERAL CAUSES COMBINED TO
GIVE THE STOCK MARKET
A LIFT.
GENERAL MOVEMENT LIGHT.
MOST OF THE GAINS AND THE AC-
TIvITY FOR SPECIAL
SHARES.
FALL IN DEMAND STERLING RATE.
Now Mt the Lowest Point Touched
Since the Gold Import Movement
in September.
FALL IN DEMAND STERLING RATE.

NEW YORK, Dec. 23.-Several factors COM
btned in the last hour Of trading on the stock
exchange today to lift the market out Of the
dullness which had been it's character all
day, and to raise prices quite sharply above
last nights Closing level. One Of these fac
tors was the subsistence Of apprehension
earlier In the day, caused by the closing OF
the Chestnut street bank in Philadelphia. An
other was that the new Joint Traffic asso-
citation had succeeded in securing measures
going to assure the best rates and main
tenance OF established tariffs livestock,
provisions and grain from Western to Eastern
ports. Another was the announcement from
the treasury department at Washington that
sufficient amounts Of the current skies were
being offered for redemption on Dec. q, In
accordance with the governments proffer, to
assure relief to the money market from the
scarcity threatened by the withdrawal for the
Union Pacific payment to the government.
Still another factor was the news from Albany
that the railroad commission had extended
by two years the period for equipping freight
cars with automatic coup.ers in New York
state. number Of specialties. which had
showed marked strength all day, took
newed buoyancy at the close and helped on
the RISE
The movement in the general list was not
important. the trading being in small volume.
The Vanderbilt roads failed to make any sub
stantial recoveries from yesterdays depres-
sion on account Of the quarterly statements
Canada Southern Is IL lower and Michigan
Central IL lower on the day. Lake Shore
was bid down points, but without any
transactions. The days business, however,
was largely absorbed by the spec,alt:es un-
der the influence OF special causes Metro
polltan Street Railway rose additional 2
points and Manhattan as much. Brooklyn
Transit, Sugar, Peoples Gas and New Jersey
Central over point higher. These Sc
curites not only show the largest gains. but
absorbed the greater part Of the days bust
ness
Call money loaned as high as per cent
again and did not yield below per cent.
There was further fall of Il in the actual
rate for demand sterling and b for cables and
long sterling. Demand sterling Is at the
lowest point touched since the gold import
movement in September namely, 81 SiA. The
rates for money in London and Berlin are
stifiy held and some apprehension of
squeeze before Jan. l Is reported from Lon
don. This serves to Offset the weakness in
the exchange rates.
The bond market was heavy. Total sales
were ST. 340, O00 United States As and old 4s
registered are Il lower and the 5s coupon IS
lower bid.
Total sales Of stock today were 212,9Oo
shares including: 5.4S9 Baltimore Ohio; H.
2S9 Burlington; SO, $50. Manhattan; $500 Met
ropoltan; 6,114, New Jersey Central; 5,528.
Northern Pacific; 1880. Reading; 3,27O, Rock
Island 9190 st. Paul: 5,4e5, Union Pacific;
7 610, Chicago Great Western; $500, Peoples
Gas; 10000, Sugar.
The following were the fluctuations of the
leading railway and industrial shares fur
nished by C. II. f. Smith & Co.. members
New York stock exchange and Chicago board
of trade: