The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-12-29
. The Most t' Potent Factor In Their Favor Was
the Continued Flrmness Of Money.
THE TONE OF THE MARKET WAS EASIER
coaicrs We're Notably Weak ana Jcr-
scs ccntrnl nj Ono limo Fell Two
Points = --fIetropo,itnn street RniI,
road Showed somo Fcvcrlshnc.s,
Bns Ended with n small Net an,u.

4 new York. Dec. 2S-The bears In the
STOCK market showed somewhat more
confidence to-day and had some success
IN reducing prices. The most potent fuc-
Tor In their favor was the continued firm
ness OF tho money market, but much was
renoets aS one time during the day of the
the Treasury to resign his office, This re-
tXS oet was exaggerated into story that
inc resignation had actually been made
ana the effect was TO precipltate a sell
ing movement, which was, however. CON
nned to the professional traders and
M Mtnlch reached only moderate proportions
Inc market showed no change from its
recent holiday. character and Its sem,
m 1,anee OF waiting for conditions in the
and settled. Had II not been for the sus
.aininE influence of one or more of the
Union and Brooklyn Trlnsit, the scale
would have declined much more sharply
to the side of depression. Third Avenue
the dhe recent market, reacted five points to-
1ay, and Pittshury. Charleston, Cincin-
eonspicuously * in the late d deaIin asi.
The eoalers were notably weak and Jer-
M Sey Central at 4. one time fell 2 points.
dealt In ex-d.vidend of ~ per cent, show
led some feverishness, but ended with n
sa1 net gain, Burlington also fell near
~ a point below par in face of Il Novem-
Der statement showing an increase in net
earn, Is, over last year of s829,7ss even
a sdna , thG operating expenses of. the
COO above last year To-day's clear
Ing house statement showed the
Treasury Department n debtor on balance
to the extent of si,l77,23l Yestcrdny's
Union Pacific payment by the rc-organi-
z Sa committee found place in to-
days clearing house operations. II in
vowed the payment into the Sub-Trcl-
sury OF about S!.50000O in cash. Ii fol-
lows thnt the SubTrcasury paid out to-
day over, $500, L0o for redemption OF Pa
ellie bonds. BY yesterdays and to-day's
operations tho government has supplied
the money market with over 5000, 60J on
balance. The tone OF the maket was not
however, markedly easier loans being
31s to iIs with exceptions at the close, Mt
q pei, cent Sterling exchange also con-
i iinuea STEADY; There are stiil several mil
Mons OF tho Pacific bonds which mature
on January st. and which are now AVA
able Tor redemption under the Cover
ment oiier. but it is difficult TO cstimat
avail themselves of the governments Of
fer. The firmness of time money for Tie
shorter periods. the rate being -. per
cent: from 30 to 20 days indicates a he
lief that the rates may continue stiff ar
ter the first of the year. The demand for
money In London and Berlin has its efI,cc,
IS believed to be not improbable that the
T! Bank of England will advance it's mini
mum rate this week. There is perfect
confidence felt however. that this would
not avail TO prevent II movement of gold
IN this direction II any real strinEency
WAS Threatened at this centre.
The bond market showed scmc irreg-
shown in some issues, while others were
conspicuously heavy. Total sales,
United State old is registered declined
n, the new As registered Il bid the old
IS registered sold later ut ll22l, the price
asked.
The total sales OF stocks to-day were
2q4,700 shares.