The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-12-28
I1xANcrA1 Avp coMNrrorAn.
TUESDAY. Dec. "a.

~ WShNh WV W eN0h bh aAN ANl
this yenr. and though the number OF issues
dealt In has been exceeded and the total sales
have been larger on two or three oc
casions In years past. the distribution o
business was never broader than It was to.
day. Tho unusual total transactions within
the last decade we're made M largely by abnor
nal dealings In one or more stocks. az was the
case in the Reading corner In February, 1892
and even when the maximum distribution o
business took place n few weeks agc
the dealings were not az we'll distributed
as thoy were to-day. when the heaviest trading
in any one stock did not exceed ~. 900 shares
The statistics OF the market indicate u
minimum OF manipulation. In fact. II
is no longer necessary for those who are
Interested in certain securities to eN-
ert themselves 20 attract attention to them
The public is In the market 10 an extent that
has not been edualled for nearly twenty years,
and Is not discouraged nor even restrained by
the constant taking OF profits by those who
wero fortunate and far-seeinR enough TO buy
stocks below the present level.
Tho leaders in the upward movement were
Issues that are generally described as tho
Flower stocks. namely. Federal steel common.
Brooklyn Rapid Transit and Rock Island. The
FIRST was the leader Of the list I'm respect to nc
tivity at n net advance OF 2 points, while
ItOCh lNlulus WulC WuS MI III ipSpSNb
TO activity. scored the greatest net gain.
nearly 3 points. The list OF stocks that made
noteworthy contributions to the total trans
actions is a long one. and al OF them.
with the exception OF Sugar Refining, closed
q point or moro higher than last Friday.
United States Leather preferred was In
urgent demand at the opening, and at
a reaction Of nearly . points from the
highest point retained n net gain OF 81 Y cent.
For the first time In q number OF weeks tho
Northern Pacific stocks showed a decided ten
dency to advance. This movement was based
partly upon the success OF the company
in winning its suit against the Rail-
road Commissioners OF North Dakota, who
undertook to enforce a schedule OF maximum
rates in violation of the principles established
by the Supreme Court OF the United
States. that such rates cannot be fixed
at figures that do not allow the rail-
roads to make a fair profit upon the
capital invested in creating the property.
The speculation In the Northern Pacific stocks
was also affected by the publication Of an off,
cial statement setting forth the unsub-
stantial character OF the attack upon
the Liant grant OF the company by the
lower house OF the Legislature Of the
State Of Washington. 1t appears from that
statement that the title OF the company to tho
lands referred to has been passed upon by the
Attorney General of the United States In an
opinion to the Secretary OF the Interior. and
that the opinion was unqualifedly in favor Of
the railroad company.
The market for the Granger stocks was in
favorably not only by the advance in
Rock Island, but by the excellent showing Of
earnings by the st. Paul Company for
and of gross earnings for the
third week in the current month. More
over. the advance in tho price OF wheat
10 calculated to stimulate the movement OF that
cereal to market. and according to all accounts
n large proportion of that product is still in the
hands OF producers. The Granger roads. how-
ever. are not as dependent as formerly upon
the immediate transportation OF staple crops.
for the great agricultural districts Of the
West and. Northwest are now consuming
constantly increasing amounts OF Eastern
The revival OF activity In United
Leather preferred was based upon unof-
fetal reports as to the earnings OF the COM
pany. The buying OF Brooklyn Rapid Tran
sit aroused expectations OF the contamination
In the near future OF the deal negotiated some
ago between the company and the Nassau
system.
The usually less active stocks that attained
were American Steel and Wire is
sues. American Mailing common and preferred.
Chicago Great Western common and preferred
General Electric. the Glucose Sugar Re-
stocks. international Paper COM
mon. Lake Erie and Western shares. Mime
apolis and st. Louis second preferred. National
Lead. New York Air Brake. Norfolk and West
srn new preferred and p. c.. @. and st.
Louis Issues. The last named were exception
ally strong because the earnings of the
company encourage expectations that the
management Of the Pennsylvania company
eventually follow the example OF the New
York Central In its treatment Of Its more de-
1irable auxiliary or connecting lines. Indica-
lions of O more satisfactory trunk line situa-
lion may be found in the determination Of the
receivers OF the Baltimore and Ohio Railroad
% report to the Interstate Commerce
commissioners after Jan. / any deviation
rom schedule rates that they MAJ discover.
This action on the part Of the receivers has In
III probability been taken In Difference to the
Wishes of the managers Of the successor COM
pPny. This policy. II pursued by all transporta-
ton companies. would soon put an end to the
abuse OF other peoples property by
irresponsible traffic managers.
London operations were not much OF q fac
In fact 1t Is becoming palmer every day |
hat this country is rich enough in resources
Of all kinds to finance its own enterprises and
its own speculations without /
my assistance from abroad. While Euro
pean powers are watching each others
money markets. because all Of them are ex-
sensitive. and one OF those powers |
has even ventured to sound this market with a |
Eiew OF obtaining q loan. the monetary sit |
nation here continues easy. Notwithstanding |
he enormous amount OF business that is be-
transacted throughout the country as
we'll as In Wall street. The weekly statement
II averages OF the Associated Banks shows
hat the city institutions expanded their loans
,hly moderately last week. and that they are
In cash than on the previous Saturday
~ over $2.500.000. The closing Of tho stock
market was strong at about the best prices.
Sew York Stock Exchangs-saiea Dec. ~. |
STA TIES AND STATE BONDS I'm ST. 000s) |
3D. Usss.o 6Us5s,c
lo7Hal o7hl ll2H0ll3 |
3 U 8 IS. ser B..lo7 ia Tenn Set IS. -. o7h
9 Us 4s.r. 1Vo7..1l2 5vaF deb 2-sa
2 US 4s. C. 1925. l2sA OF 1ys1...... 80
CLOSING PRICES OF UNITED STATES BONDS.
BID, Asked Bid. Asked.
81 ISL. Tn At 4s.c.
stpI of e9h = lo25....lesN leeh