Worcester morning daily spy., 1898-01-08
THE SAME MARIE
Fridays Did Not Differ Materi-
ally From Thursdays.
Bull Movement Continued -susqushanna
and Western Movement Conspicuous
Talk Of Surrender of U. P.
Deposits.

New York, Jan THE market for
stocks today did not differ materially
from that of yesterday.
The aggressive bull movement of the
speculative world continued in full force
and all the large professional operators
were buyers of stocks. That they were
re-enforced by a marked addition of
outside interest in the market was
shown by the large number Of orders in
speculative stocks placed through COM
mission houses. There was also a con-
tinued absorption of bonds of all des-
criptions; very heavy orders being
placed in the high grade issues. as well
as in the speculative issues and middle
grade bonds.
The pressure of funds for reinvest-
ment which had been released by the
January dividend and interest pay
ments, was very obvious
There was also a marked weakening
OF rates for money, Notwithstanding the
lively awakening of speculation.
Efforts were made by the banks and
money-lenders to keep the rate for
money as high as 8 per cent.
Loans were in fact placed at 312 per
cent; but the rate sagged off to per
cent, and the last loan of the
day only commanded 2ls per
cent. Owners of money We're also lively
bidders for commercial paper. This
served to stimulate the speculative
furore. which seems TO have broken out.
London was quite a large buyer in
this market OF several of the interna-
tional stocks, notably Union Pacific and
L. & ~ The Nanderbilts continued TO
hold the leading place on the reported
determination Of the controlling interest
in these properties TO see traffic rates
maintained.
There was also a renewal of old re-
ports of a combination. involving these
lines, and looking to through trans-con-
rinental traffic. The most conspicuous
movement in the market was that in
Susquehanna and Western securities
due to the reported passing of the con-
troll of the property to the Erie inter-
ests.
The fears of minority stockholders led
to an unloading of their holdings and
slump of points in the common stock
and of points in the preferred, with a
gally over point in the latter The
break caused sympathetic weakness
in all the coalers, and the mild weather
worked to the same end.
The bituminous coal roads were. or
the other hand, notably strong. Cleye-
land, Louisville and Wheeling being the
most conspicuous. with further gain OF
nearly a point There was evidence OF
realizing in parts of the list, on the
strength impaired TO the market by gen
eral buying. Some of the leading rail
road stocks show small net losses; but
this tendency was not pronounced in the
recently active stocks of local corpora
lions.
Manhattan became strong, later. or
reports Of supposed change of electric
motive power. and General Electric en-
<oSed a corresponding benefit. Consol1-
dated Gas advanced at one time points
and Third Avenue :. The realizing OF the
half-hour, invited by the days notable
rise. affected the specialties most but
its effect was quite marked throughout
the list. reducing the days net gains
quite sharply in some cases. Net gains
outside the coalers and few specialtes
extended all the way from fraction te
over a point The abundant replenish.
ment of the local money market has !ee
to talk of the surrender by New 1ori
banks of the government deposits now
in their vaults, on account of the UneT
Pacific payment.
The bond market continued very not
ably active today. and a large number
of issues show gains of over ] per cent
Total sales $4.550,000. United States ole
As reg. were Is higher bid and the new
AZ X higher.
Money on call easier 2631a per cent
Prime mercantile paper S12@4 per cent
Sterling exchange firm, with actua
business in bankers bills at 4.S51s fol
demand and at 4.S27k for so days; posted
rates 1891 and 4.S6: commercial bills
4S2; silver certificates 5714@5S; bar sill
yer 81; Mexican dollars 45S4 government
bonds strong; state bonds dull; railroad
bonds strong.
NEW YORK CLOSING QUOTATIONS