The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-12-28
The Market Elsewhere

New York, Dec. 27-The market for
securities showed the effect of the great
relief felt by the dissipation of several
factors of apprehension and prices
mounted upwards with increasing buoy
ancy as the day progressed. The market
closed with burst of animation and
strength at the top level of the day.
Net gains in q number of important
railroads reached three points with a
long list of advances of point or bet
ter. Among the industrials and special
ties, gains were even more striking,
quite number having advanced from
to 10 points as a result of the days
trading. The demand from an outstand-
ing short interest to cover, accentuated
the strength of the latter group, those
which have recently suffered most
showing the greatest benefit in the
days business. Brooklyn Transit was
almost the only exception and was sub
jected to vigorous attacks all day in an
effort to unsettle the market and check
the advance. But this stock although
1t ranged over more than four points,
closed with net loss of only point
The leading influence in the improve
ment of sentiment was the quiet and
orderly manner in which the periodical
settlement on the London stock ex-
change proceeded. Since the last settle
ment on that exchange, Great Britain
has suffered three notable reverses to
its arms in South Africa, it's three coll
umns of invasion have been paralyzed
and as a result alarm spread through
the financial centres of the whole world
Grave fears were felt that the result
ing shrinkage in values would prevent
many operators on the London ex-
change from meeting their engagements
at the current settlement. The news this
morning that no acute difficulties had
developed, that money conditions were
easier. and prices inclined to advance
rather than to decline brought immense
relief which was promptly reflected at
the opening here in an advance all
along the line. The only notable check
came with the news of the failure of a
Boston stock exchange house, but this
influence was only temporary and
slight
The conditions in the money market
were notably easy and one of the larg-
| est individual money lenders in the
street made large loans to carry over
until next Tuesday at the rate Of per
cent. The current rate ruled from to
5 per cent. The close of the year is uni
versally expected to terminate the per-
iod of severe stringency and to be fol-
lowed by relaxation owing to disburse-
ments of dividends and interest which
will be on an unprecedented scale.
| There was some discussion of the
probable amount Of gold exports on Sat
urday. These are not now expected tc
be large owing to the easier conditions
in the London money market,
|. The trading did not take on any great
animation until near the close and the
| individual transactions were not on q
| large scale. In fact the number of ode
| lots traded in was a feature of the day
and reflected the investment by buyers
| who take stock out Of the market tc
| lock up and keep.
Investment buying was in evidence
also in the bond market wherever the
| fall in price had offered to secure theil
return on the money invested. The bono
market was active and strong through.
out. Sales par value $2,320000. United
States new As declined a in bid price.