The Anaconda standard., 1899-12-16
THE WORLDS MARKETS
Daily Record Of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
digest OF Exchange eNews-Mining Stocks.
Metal Quotations-Wool Prices and
Movements : Grain and Pro-
ducs-Review of Trade.

New York, Dec. lo-The strength man.
ifested by the stock market in face of
the engagements of gold for export by
to-morrow's steamers was the feature OF
the day. There was considerable hesita-
tion and some reaction in the early deal
ings on the recurrence of fears over the
effects of gold shipments. Yesterdays
rally in stocks it will be remembered.
was based on the hopes that gold exports
had been avoided for the time being. The
fact that apprehension over this develop
mcnt was still apparent this morning
made the strong advance in prices in the
very face of the news of the gold ex-
ports all the more striking. The ster-
ling exchange rate to-day not only failed
to recover but declined an additional frac-
tion to S4.S7is for demand. The shipment
of gold at this level for exchange demon
strated that considerable advantage is Of
fered by the Bank of England as an in
ducement for the shipment. 1t has also
advanced the buying price of gold, both
for American eagles and for bar gold.
For the former the price has been adVanc-
ed one penny an ounce in two days. The
transaction may therefore be regarded in
certain sense as special one Whether
1t was for this reason that the local stock
market took small account Of the Begin
ming Of the export movement is a sub
1ect for surrnise The reported engage
ment Of 81. .750, 900 in gold for export caused
no stiffening Of the local money rate
which ruled from ) to per cent. all day.
The incidents of the day which served
to offset the gold exports We're several.
In the first place. the conviction that to-
morrows bank statement would make
strong showing, the weekly losses to the
r.-hi f,nf n Vi
been so far offset by the receipts of cur
rency from the interior and of gold from
Canada, that the banks net losses in
cash are figured at less taan $1,500,0oV.
To-morrowS gold shipments, OF course. do
not figure. The weeks extensive liquida-
ton in the stock market, with it's conse-
quent reduction in loans is certain to
have more than offset its comparatively
slight decrease in cash. A rise in the
surplus reserves of the banks is therefore
believed to be well assured. The arrival
from Cuba of a United States transport
brings an addition to the available supply
of specie of s1250,00o, assigned to a trust
company. and of over 100000 Of postofflce
funds. The absence of disturbances in
the local money market by the withdraw
ais of gold and the favorable effect is pro-
duced on the London market aroused hope
that the operation may prove beneficial
to tho financial world at large IN sufficient
degree to offset any local Inconvenience.
A favorable effect was produced on the
stock market here by the buoyant tone in
the bond market arguing satisfactory
settlement of the difficulties threatening
that market. Substantial gains in price
throughout the list are the net results of
the days trading. -a. r
aS A late advance Of 1885 in the price OF
Pittsburg, c.. c. &; ST. Louis was fea-
ture of the day.
priS oh in I,
irregular. and were for the most part mar
row. Total sales, par value, $1,S05000.
U. S. new As declined a. and the 5s ad-
Vanced II in the bid price.