The age-herald., 1899-01-07
FINANCIAL REVIEW

New York, January 6-Bradstreet's finan- cial review tomorrow will say:
 After the extremely bullish demonstra- tions with which last weeks speculations closed 1t was expected that the opening of the new year would be marked by strength of an equally decided kind This was only partly realized this week, new records as to quotations having been made in many parts of the stock list while the trading, particularly in the last two days, has shown an activity fully up to the recent high average. There was, however some disappointment in Wall street because, when the stock exchange reopened after the three days holiday, a disposition to realize profits took the place of the ex- pected larger public buying demand. A sensitive money market in London, result ing in a rather bearish attitude toward american stocks there. contributed to the hesitation which made itself felt in the general railroad share list here and which apparently caused some of the professional traders to temporarily take the bear side The casing off of quotations on Tuesday ana Wednesday throughout the market was not at all severe. and in the face of 1t the coal stocks displayed considerable strength, while certain spec,a'ties. like federal Steel. Peoples Gas. had effective support, and made rapid advances These D which time the slight hardening of call loan rates due to the heavy January dis bursements and changing of loans, had entirely disappeared
 It may be noted that on last Tuesday New York bank clearings were the largest Tor any day in the history of the clearing house, and that notwithstanding this. the current rates for call money can hardly be said to have advanced above 1 per cent. while the time money was freely offered and was in as little demand as ever. Lon don, after suffering somewhat from an- other cessicS of fears about the relations between Great Britain and France and from the large calls which the season naturally brought on, the Bank of England main- tained its unfavorab'e position toward Americans which was not improved by the fact that on Thursday s1 800 0eO in gold was taken there in the open market for ship ment to this side. The latter circumstance was counted here, however among the bui1sh influences of the moment. Some at tentlon was also paid to the continued good railroad earnings reports and in financial and transportation circles stress is laid on the general and decided tendency of rail- road managers to insist on the collection of full tariff rates for freight. which, it is thought, may result in a permanent resto- ration of charges to a paying basis At the same time the market was more interested Tn the manipulation of various parts of the i9t anu tne position which leading OD- orators and financial interests are taking as well as in various developments and deals now said to be pending which fur nished basis for the continued upward movement of certain stocks.
 Iron and Steel Report
 Chicago January 6.-Iron and Steel to- morrow will say: The opening of the new year begins with activity in steel. which is almost phenomenal Two faotors of importance exist. the advance from 50 cents to "A per ton on many kinds of iron and steel product. The second is a scarcity In many lines so marked that grave doubts exists whether manufacturers can fill prob able demand. The mills have been stormed with orders in all directions. Not in years has there been a week which shows the sharp and general advances as in the pres ent one. Beams and channels are up s2 per ton, ties and angles and plates $1 per ton Standard steel rails have advanced from $1 to $2 per ton; and light rails $4 per ton Individual hoop and band makers are quoting prices 50 cents higher Fero- Mangans has advanced $2.5O per ton and the mills are quoting bars about $1 or g per ton higher It is impossible to obtain plates at any price for deliveries within several months Tin has advanced a cent pound. Copper and lead are both frac- tionally stronger than a week ago. This list is incomplete, but it is longer than any previous period of similar length can show for years.