The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-11-24
FINANCIAL AND COMMERCIAL
THuRapAY. Nov. q.

".
The favorable circumstances that infiu-
enced the tone OF the stock market yesterday
we're again potent to-day and were more
widely recognized as likely to continue for
some time to come. Tho money market was
distinctly easier. Comparatively few call loans
were made at higher rates than @ per cent
and In the late dealings transactions we're
reported at half that figure. Time money
was not quotaby easier. being q per cent for
all periods. but lenders showed a disposltion to
make contracts at tn at rate for short periods
that Is. sixty to ninety days. Heretofore they
have been willing to lend only for longer Pc
RODS or have exacted a comm ssion for short
loans.
The foreign share market was heavy. except
for a little rally at the close Of business on
evening up for the day. Further purchases OF
stocks for European account was the
principal depressing factor. The supply
OF cotton and other commercial bills
continues fairly large. Easier money here
and Hrmer discount market In London
had no perez ptible effect upon exchange. The
local monetary situation was further improved
by the disbursement OF Sl.S7S,O4O by the Sub
Treasury for bonds redeemed making the total
payments S1O.i2U,105 The receipt Of this
money by the banks. together with the virtual
cessation OF heavy shipments to the interior.
OF very good showing by the Clearing House
institutions on Saturday.
A fresh development that IL full OF signihc-
ance Is the action OF the New Amste rdam Gas
Company IN restoring the price OF it, product
to 81 10 per 1000 feet. The increase In the
consumption OF gas caused by the abnormally
low prices at which II has been sold during
the last few months has finally reached the
limits OF the manufacturing caracity Of all the
companies This Ia one reason for the advance.
Another is the near approach to the converting
OF the State Legislature. and still a
third is that the managers OF the several
concerns have at last recovered their senses. II
will be surprising II the Consolidated Company
does not follow the example OF its aggressive
connection tomorrow. In spite OF denials
that such is the case. there is reason for he
lieving that general advance has been agreed
upon. The impairment OF investments result
ing from the gas war. together with the shock
to confidence In corporation managers. have
been serious cloud upon the market ever
since the gas war became acute: hence a
settlement OF the differences between the var
ious companies has bearing upon the gen
eral situation as we'll as upon the market for
gas securities.
The volume OF trading In stocks was some
what larger than yesterday. The heaviest
dealings were In Sugar Refining. Baltimore 4
Ohio preferred. Z. :. Leather common. South
ern Pacific and Consolidated Gas. The last
named closed Ave points higher than yester-
day. while the others. excepting Southern Pa
cinc. scored net gains Of point or more. The
list Of less active shares that made progress
toward higher level was large one
There was effective sollng Of the anthracite
coal stocks on rerorts that some OF the smaller
individual miners are about to build atranspor-
taton line OF their own to tidewater. The
more this project is investigated the less sub
stantial IL will appear I. s. Leather PREFER cd
was exceptionally weak and some OF the stocks
that advanced sharply Yesterday suffered nat
ural reaction. The market as a whole must be
described as very steady. a condition that 10 the
more noteworthy considering the compare.
lively small amount OF outside support.