The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-30
IN THE STOCK MARKET.
Yearly Settlement Completed Without Fail.
ures Of importance.
PERIOD OF MONEY PRESSURE IS OVER
Rate for Loans Fiurrjcd nj one rfmc,
but In the Main II Was Normal.
Expectation of Bank Statement.
fspecial To The Post.


New York. December 2a.-s. Mum, Son A
Co say of stocks
Stocks advanced after some irregularity ant
closed strong. though money was as high al
10 per cent, closing at 10 per cent, Sterling
exchange advanced &c and actual cables ~
London, where the monetary situation l.
much easier Railroad bonds were strons
with the features Atchison general AZ, Bal
tiuore and Ohio sks, colorado and Southern
Wabash "B'' debentures. Gold TO the amount
of s3,4O0O0n will go out tomorrow, making
| total in fifteen days OF slo,675OOo. Money
went UP In connection with January disburse-
ments There was renewed talk OF a more
satisfactory arrangement between the Balti-
more and Ohio and the Pennsylvania and
London bought 5000 shares, largely Baltimore
and Ohio and the Pacifics. The London set
Element turned out very favorably. Money
may be a little tight for time, but the
general opinion is believed to be sound and
warrants purchases Of good railroad stocks.
New York. December 2s.-The New York
stock market testified its relief over the
practical completion OF the yearly settlement
by bidding UP prices in a striking manner
today There we're signs of hesitation and
reaction at time when the money raw
hurried to 10 per cent simultaneously with the
appearance OF the statement that tho Novem-
Der earnings of the Chicago, Burlington and
Quincy railroad. This statement showed a
decrease in the surplus earnings after charges
for the month of over s2l5.0O0 and coming
on top of Yesterdays similar exhibit by the
Chicago. Milwaukee and St Paul made a
natural impression on sentiment as going to
show the inevitable effect of the high prices
Of material upon the operating expenses of
railroads The grangers were most affected.
hut prices in the railroad list generally ran
down to about last nights level. Tht ON
pletion of the period of money pressure,
however. overshadowed all other considera-
tions and gave rise to a feeling on the part
OF security holders closely akin to exulta-
ton. About the time the London stock ex-
change closed the most notable movement OF
the dav naugurated. The fact that the |
periodical stock exchange settlement was |
completed with no failure of great Importance |
was a gratifying surprise in the financial |
world, The International stocks in the late |
buying were the favoiteS in anticipation of |
a demand tomorrow from London Although |
the call money rate advanced sharply in |
London discount rates dropped off fully one |
hais per cent with resulting advance in |
the long sterling rate in New York. The
private discount rate in Berlin also showed
a further decline so that the foreign markets |
IN winch crisis had been feared all showed
clear skies. In our own market loans made
TO-DAY VIII carry over until next Tuesday 1t
was this fact which ran the rate up to is
per cent favorable bank statement is
counted for tomorrow in spite of the fact
That some S6,00O000 OF gold exports will
figure in tho statement. On the regular ex-
port movement of money to the interior the
principal banks have gained UPWARDS OF 81
oVpOVo and on subtreasury operations thew
nave gained sl,4SS 600. Besides this there
nave been very large receipts of money by
mail. estimated all the way from 81 Oo0 OO0
TO si'ooo'OOo. so that the net gain in cash
rom all sources is estimated at from So 900
nV upward. In the late strength Of the
market the trunk lines were conspicuous. led
ny the Baltimore and Ohio and Norfolk and
western stocks. rumor was circulated to
ne ne, effect that the plan for harmonizng
trunk line interests was soon to be announced
and that it would include the Norfolk ami
" estern, as well Baltimore and Ohio
iains In specaties were larger than in the
'aliFoads except that Sugar and Metronoi1
an street railway were moro or less under ,
pressure The New York City gas com.
'anies, the coalers General Electric. Pacific 4
wan and the Steel and Iron stocks show I
ONE striking gains and many of the railroads !
ire point or more higher. a notable fea L
ar IRE OF the days trading was the number Of I
'dd lots dealt in. VI
some OF the minor bonds showed declines I
,u h me general tendency was upward 70 /
al safes par value S2,240,00O !
Following arc n,ot,,ta,. |