Worcester morning daily spy., 1898-01-07
LIVELY MARKET.
Buying Was Aggressive and on a
Big Scale All Day.
Money for the First Time Since the
Tightness Began Showed An Easier
Tendency Bonds Active.

New York, Jan. 6-Today's stock mar
ket was animated and strong throusSl-
out, and gains were maintained with
only insignificant reactions at a few in
tervals. The buying was on very
large scale and was aggressive and con-
fident. A number of prominent operat-
ors were in the movement, and their
combined takings made up a. large share
of the total transactions of the day. But
there was manifest an outside interest
in the market, which was awakened by
yesterdays strength, and the commits
sion house business was on fairly large
scale
The Investment demand for safe divi
dend-paying stocks, and the heavy buy
ing of bonds were also evidences OF an
infusion of new life into the market. 1t
is likely that these dealings were due
10 the large amounts made available
for investment by the January dividend
and interest disbursements. Most of the
dealings We're professional, nevertheless,
and they seemed to have been melted
by the very confident expressions of one
of the largest and most dashing operat-
ors in the,marllet, who was in large part
the leader of last summers rise. Some
Of the most notable gains were achieved
held throughout. even in the face of
very large transactions.
There was a suggestion of realizing,
but all offerings were we'll ABSORBED,
and the closing was only slightly below
the best and showed net gains of be-
tween l and points for nearly all ac-
tive stocks. Prices for American Sc
curities We're good in London and in
Europe today, and gave an impetus to
ha OF inter-
national stocks being the first to ad-
vance. The next to feel the movement
were the Nanderbilts, New York Cen
trail being conspicuous for the large BUY
ing and an extreme advance of ? points
There was a report circulated that the
active managers of these properties mad
been sharply admonished by the control
ling interests that their hold on their
positions would be made dependent on
rates for traffic being maintained on
their lines.
Reports of the settlement of differ
ences on the rates from the west also
helped on the rise. The coalers all en-
ioyed marked gains on reports OF IN
creased business and better prices.
Continued strength in Sugar also
helped to sustain the market
The recently prevailing tightness IN
money showed the first decisive tenden-
cy towards easier rates today, and Whlle
most loans. We're made at S12 per cent,
the rate yielded to per cent and closed
at that There was a better demand re-
ported also for commercial paper though
not sufficient to cause a yielding of the
rate, which continued at SR to per
cent for choice grades. There was some
outstanding short interest in the mar
ket, and the covering of this helped on
the rise.
The bond market was active and
stronger than stocks and some notable
gains We're scored. There were TWO
transactions of 100000 par value, one
in Brooklyn Transit SIS, and the other
in Wabash lists Commercial Gable As
gained S1z, Susquehanna & Western gen.
eraI SIS "a, Missouri Pacific collateral
trust SIS ., and Mobile & Ohio As Ia
Total sales s5,09O000. Government
bonds were Il higher all around,
New York, Jan. 6.-Money on call arIn
Prime mercantile paper, S1gq4 p: G., Ster'
ling exchange strong. with actual pusl-
ness In bankers bills at 4.S50A for de-
mand and 4 S2s4G4.S3 for 60 days. Posteo
rates, 4S31zGi4. Sc. Commercial bills, Az
Bar silver, 557s Mexican dollars, 4012
Government bonds strong. State bondS
dun, Railroad bonds strong.
NEW YORK CLOSING QUOTATIONS