The daily morning journal and courier., 1898-01-08
EtmaMclal.
Aggressive Mood of Bulls Continues in
 Full Force in Speculative World.

Aggressive Mood of Bulls Continues in
 Full Force in Speculative World.
 New York, Jan. 1.-The market for stocks to-day did not differ materially from that of yesterday. The aggres- sive bull mood of the speculative world continued in full force, and all the large professional operators were buyers of stock. That they were reinforced by masked addition of outside interest in the market was shown by the large number of orders in speculative stocks placed through commission houses. There was also a continued absorption of bonds of all descriptions, very heavy orders being placed ir the high grade issues as well as in the speculative is- sues and middle grade bonds. The pressure of funds for reinvestment, which had been released by the January dividend and interest payments, was very obvious.
 There was also marked weakening of the 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 per cent. Loans were, in fact, placed at 31s per cent,
 but the rate sagged off to 2 per cent.
 and the last loan of the day only com- manded 21s per cent. Owners of money were also lively bidders for commercial paper This served to stimulate the speculative furor which seems to have broken out.
 London was quite large buyer in I this market of several of the interna- 1 tional stocks, notably Union Pacific and | Louisville The Vanderbilts continued l to hold the leading place on the report | ed determination of the controlling in l terest in these properties to see traffic 1 rates maintained. There was also re- i newal of old reports of combination | involving these lines and looking to 1 through transcontinental traffic. The most conspicuous movement in the
 market was In Susquehanna and Vest | ern securities, due to the reported pass l ing of the control of the property to the l Erie interests. The fears of minority ] stockholders led to an unloading of 1 their holdings and slump of points l in the common stock and of 6 points in l the preferred, with rally of over g l point in the latter. This break caused l sympathetic weakness in all the coal I CTS, and the mild weather worked to l the same end The bituminous coal l roads were on the other hand, notably
 strong Cleveland, Lorain and Wheel 1 ing was most conspicuous, with a fur l ther gain of, nearly a point. aj 1 There was evidence of realizing in l parts of the list on the strength impart- ! ed to the market by the general buying. < Some of the leading railroad stocks l show small net losses, but this tenden- l cy was not pronounced in the recently
 active stocks of local corporations.
 Manhattan became strong later on re- 1 ports of a proposed change to electric i motive power, and General Electric en- l joyed corresponding benefit Consol-
 dated Gas advanced at one time four points and Third Avenue nearly 5. The
 realizing of the last half hour, invited 1 by the days notable rise, affected the < specialties most, but it's effect was quite
 marked throughout the list, reducing l the days net gains quite sharply in
 some cases. siaE
 Net gains, outside of the coalers and | few specialties, extend all the way 1 from fraction to over point. The I abundant replenishrnent of the local
 money market has led to talk of the
 surrender by New York banks of the 1 government deposits now in their vaults
 on account of the Union Pacific pay l ment
 The bond market continued very not ably active to-day, and a large number i of issl,es show gains of over Der cent
 The total sales were $4,550,000.
 United States old As registered were
 K higher bid and the new As were 4
 higher.
 Following are the closing prices re-
 ported by Prince &s Whitely, bankers
 and brokers, 48 Broadway, New York
 and Is Center street, New Haven: l Bid Asked.