The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1898-01-08
The The MARKET for Stocks Old Not Differ Ma.
tsrlalIy from Thursday.
BULLS CONTINUE VERY AGGRESSIVE
That They wero Reinforced by q
MARKED Addition OF outside Inter-
est. he Mnrkct was shown by
tho Lnrge Numbers OF oasicrs I'm
Speculative stocks.

New York, Jan. 1.-The market for
STOCKS o-day did not differ materially
4 from that Of yesterday. The agrees
siVe bull mood of the speculative world
continued IN full force and all the large
professional operators were buyers Of
STOCKS. That they were REINFORCED by
o marked addition Of outside interest
an the market was shown by the large
NUMBER OF orders in speculative stocks
paced through commission houses
inere was also q continued. absorption
OF bonds OF all description, very heavy
orders being placed in the high grade
issues, as we'll as in the speculative
ISSUES and moderate grade bonds. The
pressure for funds for relnvestmcnt,
which has been released by the jan
uary dividend and interest payments,
was very obvious. There was also a
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. Leans were, in fact,
placed at as per cent. but the rate
Sagged off to per cent. and the last
aoan OF the day only commanded PIX
per cent.
Owners of money were also lively
bidders for commercial paper. This
served to stimulate the speculative
out London was quite large buyer
IN this market of several OF the inter
national stocks, notably Union Pacific
and Louisville and Nashville
The most conspicuous movement in
the market was that on Susquehanna
and Western securities due to the re-
ported passing OF the control OF the
property to Erie interests. The fears
OF minority stockholders led to an un-
loading of their holdings and a slump
OF points In the common stock with
out recovery and of points In the
preferred with a rally of over a point
In the latter. The bonds of the COM
pany were very strong on the belief.
that they would be guaranteed by the
new controlling company. This break
caused sympathetic weakness in all
the coalers and mild weather worked
TO the same end. The bituminous coal
rCads were, on the other hand, nota-
'piy, strong. Some of the leading rail-
road Stocks show smpll net losses, but
TINS tendency was most pronounced
In the recently active stocks of local
corporations
Inc realizing of the last hour invit-
ed by the days notable rise affected
the. specialties most, but It's effect was
quite marked throughout the LIST. re-
duclng the days net gains quite Snarp-
ny In some cases. Net gains outside
the coalers and a few spec!alties extend
all the way from fraction TO over n
point. The abundant replenishment Of
the local money market had led to talk
OF the surrender by New York banks
OF the Governments deposits now In
dhe1r vaults on account Of the Union
Pacific payments
The bond market continued very
notably active to-day and n large num-
Der of issues show gains of over l per
cent. Total sales. A,550,O0o.
United States old As Registered vert
&c. higher bid and the new rs were
&c. higher.
The total sales of stocks were 49,
900 shares.