The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-12-31
rIs1soIlL AND COMMERCIAL.
AArrnnAY. Dec. 30.


Tho week and the year closed with q salts
factory order OF things In the stock market
There were few stocks which did not show
gains a. the result OF .o-dnys operations. The
dealings were on q liberal scale. considering
the broyity OF the session OF the stock Ex-
change. The feeling IN the financial commu-
nifty seemed to be one OF comparative ease and
confidence while there was only nominal
rate for money. the general notion was that
the new year would be entered upon with no
Particular stringencr In funds. II was thought
that such com pete and careful pre- parations had
Leen made for the heavy January interest
and other payne ITS that they would be
concluded smoothly. The situation abroad
appears to be steadily improving. Dis
count rates at London and at the Con-
ilnontal centres continue 10 decline and the
foreign security markets are gaining IN
strength. The New York market has been
Influenced to a considerable extent By Euro
pean Developments. and any materia change
for the better on the other aide 10 reasonably
certain to be reflected here. The extensive
liquidation in the past thres months has
placed Wall Street. as whole, on q good basis.
md with faith restored. there Ia reason to sx-
pect . larger participation by the public in
stock transactions. with. presumably. an en-
hnncsment in values
The bank statement was. II anything. q moro
favorable exhibit than had been anticipa cd.
The increase OF S7S+.0OO in the surplus re-
serve was rather surprising; a decrease had
been looked for. The increase OF $500. 800 In
cash showed that the gain by tho banks from
the interior movement Of currency and from
the deposit OF internal revenue receipts
was exec eding the loss through exports OF
gold. The changes that have taken place In
leading items OF the bank statement since July
have been important. Tho reduction In
loans has been Sll3.1e480o to s673. $50. 400
The loss In cash has been S44.378. 700
leaving the present holdings at $780,
179.SOO. The surplus reserve has been
cut down S3.2o6.475 TO sll. l6s 376
One year ago the items hero named stood as
follows: Loans. Sis. 3oS. 100: cash. 1874. 94O,-
1905 surplus reserve. SIC. 1so.975 Tho posi-
ton Of the banks Ia secure and ought 10 Inn
prove decidedly In the near future.
The chief activity on the Stock Exchange was
in the last hour. and II was then like wise that
most OF the advances were recorded. The
heaviest dealings were In the common stock OF
the United States Leather Company. A now
demand for the stock sprang up. and II
effected sharp rise In tho price.
Many short contracts were hastily COW
cred. The dealings In the preferred stock
were small. but the preferred rallied
10 sympathy with the common. Tho Federal
steel Issues moved TO higher place In nntici-
patton OF the dividends ncxt month. On light
trnr sactions substantial additions were made
20 the prices OF American Steel Hoop and
American Linseed. Brooklyn Rapid Transit
WAS not dealt 10 a. largely as usual
and sustained fractional loss In price
Manhattan disclosed weakness. There were
liberal dealings In Southern Pacific. which
gained slightly In price. Realizing sales pro-
duced decline in the baltimore and Ohio
issues. The Lake Erie and Western issues and
Pacific Mail were notably strong
As compared with the closing prices Of last
Satur day. the entire list IL higher. Tho more
important net advances are In METROPOLITAN
ktreet Railway 2OS per cent. American To-
bacco 11A. Pacific Mail q. Federal Steel and
feopls's Gas 81 each. American Sugar Refn-
ing ~, Reading LIST preferred ~. Manhat-
Ian Railway 81, National Steel az. AmerI-
ran Steel and Wire and Colorado Fuel
RI each. Tennessee Coal and Iron 6D,
baltimore and Ohio preferred 81. Amerl- |
can Mating preferred 81. Wheeling and |
! AXE Erie second preferred 81. Louisville |
and Nashville 81. Union Pacific 8. O 8.
Gather pre- erred -. Mchlson preferred and |
y, Y. Central &. each. Southern Pacific A. |
Union Pacific preferred ~. Northern Pacific |
T. Rock Island and Missouri Pacific -. each. |
American Steel Hoop and Pennsylvania Rail !
road 81 each. [. 3. Leather 81. Continental |
Tobacco and Southern Railway preferred 81 |
zach. Burlington and Quincy ~. Chesapeake |
and Ohio ~. Brooklyn Rapid Transit ~. Chi
caGo Great Western IL. Atchison ~ and
st. Pau! II per cent.