The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-12-28
TURN FOR The BETTER
Taken by Wall Street, Much
Aided From London
IN A BURST OF ANIMATION
Closes the Market, at the
Days Top Level.

New York. Dec. 27-The market for Sc
curities showed the effect OF the great
relief felt by the dissipation of several
factors of apprehension, and prices
mounted upward with increasing buoy
ancy as the day progressed. The market
closed with a burst OF animation and
strength at the top level Of the day. Net
gains IN number of important railroads
reached points, with long list of ad-
vances a point or better Among the in
dustrials and specialties gains were even
more striking, quite a number having ad-
vanced from to 10 points as a result
pf the days trading. Demand from an
outstanding shore interest to cover &C
centuated 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
subject TO vigorous attacks all day in an
effort 10 unsettle the market and check
the advance. But this stock although il
ranged over more than four points, closed
with a net loss OF only a point. The
leading influence in the Improvement OF
sentiment was the quiet and orderly man.
the London stock exchange proceeded.
Since the last settlement on that exchange
Great Britain has suffered three notable
rsFerses to its arms in South Africa, its
three columns of invasion have been par
slyZed and as a result alarm spread
through the financial centers of the whole
world. Grave fears were felt that the re-
suitinG shrinkage in values would pre-
vent 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
easy and prices inclined to advance rather
than TO decline brought immense relief
which was promptly reflected at the open
ing here in an advance all along the 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 conditions IN
the money market were notable easy and
one of the largest individual money lend
ers in the street made large loans to
carry over until next Tuesday at the
rate Of per cent. The current rate ruled
from 20 Der cent. The close OF the
year is universally expected ITO terminate
the period Of severe stringency and be
followed 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 Saturday
These are not now expected TO be large,
owing to the easier conditions In the
London money market The buying 10
cover short contracts, although II was a
considerable element in the advance. was
itself induced BY the very substantial
character of the buying for long account
and the manifestly small supply of float
ing stocks. The trading did not take on
any great animation until near the close,
and the individual transactions were not
on a large scale. In fact. the number OF
odd lots traded in was a feature OF the
day and reflected the investment demand
by buyers who take stocks out Of the
market TO lock up and keep. Closing
rrices of stocks We're rs follows: