The age-herald., 1899-12-28
STOCK MARKET
 SHOWED RELIEF Prices Took an Upward Turn as Day Progressed. BROOKLYN TRANSIT LOST It is Almost Universally Expected That With the Coming of New Year
 the Period of 1Stringency
 Will Terminate

New York, December 27.-The market for securities showed the effect of the great relief felt by the dissipation of several fac tors of apprehension, and prices mounted upward with increasing buoyancy as the day progressed.
 The market closed with a burst of anil mation and strength at the top level of the day. Net gains in number of important railroads reached three points, with a long list of advances a point or more better among the industrials and specialties gains were even more striking, quite a number having advanced from four to ten points as result of the days trading. De- mand from an outstanding short interest to cover accentuated the strength of the latter group, those which have recently suffered most showing the greatest benefit from the days business.
 Brooklyn transit was almost a solitary exception, and was subjectsto vigorous at tacks all day in an effort to unsettle the . market and check the advance But this stock, although it ranged over more than four points, closed with net loss of only a point
 The leading influence in the improvement or settlement was lHS Qultl manner in which the periodical settlement on the London exchange proceeded. Since the last settlement on that exchange Great Britain has suffered three notable reverses to it's arms in South Africa, its three col umns of invasion have been parayzed, and as a result alarm spread through the finan- cial centers of the whole world. Grave fears were felt that the resulting shrinkage in values would prevent many operators on the London exchange from meeting their enga geinents at the current settle- ment
 The news this morning that no acute diff faculties had developed, that money condi- tions were easy and prices inclined to ad- vance rather than to decline, brought inn mense relief which was promptly reflected a the opening hour in an advance all along tlle line.
 The only notable check came with the news of the failure of a Boston stock eX- change house, but this influence was only temporary and slight. The situation in the money market was notably easy, and one of the largest individual money lend CTS dn the street made large loans to carry over until next Tuesday at the rate of 6 per cent. The current rate ruled. from 4 to , per cent.
 The close of the year is universally ex- pected to terminate the period of severe stningency and be followed by relaxation owing to disbursements 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 to be large, owing to the easier conditions in the Iondon money market. The buying to cover short contracts, although it was considerable element in the advance, was itself induced by the very substantial char acter of the buying for long account and the manifesty small supply of floating stocks. The trading did not take on any great animation until near the close and the individual transactions were on a large scale
 The bond market was active and strong throughout. Total sales par value, $2 32O,- 0cO. United States new As declined + in the bid price.
 New York, December 27.-Money on call steady at 4Q5 per cent; last loan at AZ per cent.
 Prime mercantile paper, per cent
 Sterling exchange firm with actual bus- iness in bankers bills at $4S7h04. .S71s for demand, and $4.S1@4S1A for 60 days. Posted rates, $4.S2@4.S21A and $4sS1k. Commercial bills, A.8094.S1.
 Silver certificates, 5S1sQ591a
 Bar silver, 5S5s
 Mexican dollars, 47A
 Government bonds weak
 State bonds inactive.
 Railroad bonds strong.
 (By Private Wire h Talhott D,i..>