The daily morning journal and courier., 1897-12-21
EtManctaI.
Spasmodic Efforts of Market to Continue
 Rise of Saturday and TTeir Failure.

Spasmodic Efforts of Market to Continue
 Rise of Saturday and TTeir Failure.
 New York Dec. 20.-After few spas modic efforts to continue the rise of Saturday, to-day's stock market fell back into decline and failed to recu- perate. The aggressive strength of some of the specialties at the opening served to sustain the market for time and to give 1t an appearance of strength, but realizing sales in the gen. eral list went hand in hand with the manipulation for q rise in the special ties and even the stocks which had shown wide gains lost practically all after the large operators had taken their profits in the general list. The coalers were strong as a group on ac- count of the growing belief in an agree ment to restrict production and to keep up prices They were also helped by the cold weather and the consequent increased demand for the product. New Jersey Central was at one time two points higher and Reading first prefer red rose to near 51. Sugar crossed 140 during the day. Manipulation of the Pittsburg, Columbus Cincinnati and St. Louis stocks advanced the common 31a and the preferred 21s Consolidated Gas was also points higher at one time ...
 None of these gains were entirely held and some of them were practical ly wiped out. Union Pacific was an other stock that enjoyed a period of strength in the late dealings, but it also reacted. Kansas City, Pittsburg and Gulf, which is not usually very conspicuous, attracted attention by 8 sudden break of something over 1 points and as suddenly recovering of almost all the decline. The first mort gage bonds of the company reflected the weakness of the stock, though not to as marked degree. There was no news to account for the action of the stock -s'
 The contradiction of Saturdays re- port of withdrawal of gold from the Bank of England for shipment to New
 York had a large part to do with the termination of the rally which set in Saturday. The conditions in the mon- ey market continued to dominate the situation if the stock market, and the stiffening of the rates for call loans to 4695 per cent in the late trading to-day checked the hopes of those speculators | who thought they saw an assurance of continued ease in money by imports of specie. No doubt is felt that the large trade balance in our favor is a suffi- cient security against any real stFin- eency in money at New York. But il | is not believed that four per cent. rate | for call money will result in 8 move | ment of specie in view of the existing high rate for money in London and 1T 1 the European centers. There is moi much prospect of easier money unti after the first of the year and until tha | time a halt in speculative activity 1T securities is felt to be probable. II | what is known as the outside market l Standard Oil liduidating certificates ! were active and strong to-day and solt | as high as 34818.
 | The bond market was not as activ4 | as of late, but prices held firm with tn
 exception of some of the speculative
 bonds. The total sales aggregated $1, | 50O0o0.
 United States As, both of 1925 and O | 1907, were A lower bid to-day.
 l Following are the closing prices re-
 ported by Prince & Whitely, bankers l and brokers, 46 Broadway, New York
 and 15 Center Street, New Haven: