The times. [volume] (Richmond, Va.) 1890-1903, 1899-12-28
STOCK PRICES
MOUNTED UPWARD
With Increasing Buoyancy as the Day
Progressed
TIE CLOSING WAS ANIMATED.
Period of Severe Stringcncy is Ex-
pectcd to Terminate With the End
of the Year Money Market
Was Notably Easy.

NEW YORK. Dec. 27.-The market fer
securities showed the eucct or the great
relief fcit by the dissipation or several
factors OF apprehension. and prices mouF L.
ed upward with increasing buoyancy as
the DAY progressed The market closed
with burst of animation aud strength
az the top level Of the day Net gains IN
a number of important railroads reached
3 points. with long list oil advances
point OF better.
Among the industrials and specialtics
gains were even more striking, quite a
number having advanced from 10 10
points as "a result Of the Gay iLadlng
The demand from an outstanding snort
interest TO cover acccuiuated the strength
OF the latter group. those which have re-
Gently suffered most showing the greatest
benefit from the day s business. Brooklyn
Transit was almost a solitary exception
and was subject 90 vigorous attacks all
day in an effort 90 unsettle the market
and check the advance. But this stock
although no ranged over more than 4
points, closed with net loss OF only
point. Tho leading influence IN the i'm
prOycment in sentiment was the quiet and
orderly manner in which the periodical
settlement on the London Stock EX-
change proceeded. Since the last settle
mcnt ON the London Stock Exchange
Great Britain has suffered three notable
reverses TO its arms I'm South Africa It's
three columns of invasion have been
paralyzcd. and as a result alarm spread
through the financial centres of the whole
world.
Grave fears were felt that the resulting
Shrinkage iu values would prevent many
operators on the London Exchange from
meeting their engagements at the current
settlement The news this morning that
no acute difficulties had developed, that
money conditions were easy ana prices
inclined 10 advance rather thdn 10 de-
cline. brought Immediate relief, Which was
promptly reflected at the opening here
an along the line.
The first check came with the news
~ the failure of a Boston Stock Exchange
house. but It's effect was only temporary
and slight The conditions i'm the money
market were notably easy, and one OF the
largest individual money lenders IN the
street made large loans to carry over until
next Tuesday al q per cent Tho current
rate ruled from 4 10 . per cent.
The close OF the year is universally OK
pectcd TO terminate tho period of severe
stringenoy. 10 be followed by relaxation.
OWNS 90 disbursements Of dividends and
Interest. which viii DE on an unprecedent-
Cd scale. There was some discussion or
tine probable amount of gold exports on
Saturday. These are not now expected
90 be large on account OF the easier cOndl-
lions In the London money market Inc
buying 10 cover short contracts although
20 was q considerable element IN the ad-
vance was itself Induced by the very
substantial character OF the buying for
long account. and the manifestly small
supply Of floating stocks. The trading
did not take ON any great animation unu
near the close. and the individual trans
actions were not on a large scale. In fact.
the number of odd lots traded IN was
feature Of the day. and reflected the i'm
vestment demand by buyers who take
stocks out of the market TO lock up and
keep.
Investment buying was I'm evidence also
in tho bond market, wherever the fan IN
prices had offered opportunity 10 secure
fair return on money invested. The bond
market was active ana strong throughout
Total sales par value $4,000. United
States new As declined q, Ina the bid price.
Total sales OF stocks. G6i,300 shares, in-
Guiding Atchison. $50, do. preferred, "a
100. Chesapeake and Ohio, 1875, Chicago,
Burlington and quincy, 20,16S; Rock
Island. $3.50. Louisville and Nashville,
1900 Manhattan. 1880. Metropoli'an,
Central. $3.50. Norfolk and Western
o. 275: Northern Pacific 10 40; Pennsyl-
vania s. s67 Reading first preferred, TO-
500. Southern Paclfc, $50, Union Pa
cIdc. IS 4g2. do. preferred, 10 2S4. Ameri-
can Stee ard Wire 1850; American To-
mental Tobacco, l112O. Pacific Mail 6,0sO;
Gas. 1876. Sugar. 60 40. Tennessee Coal
and Iron 5000; Leather, u,7ej.
MONEY AND ENCHANGE.-Mo on
call steady at 40j per cent, last loan at
"A per cent. prime mercantile paper q
per cent. Sterling exchange firm, with
actual business iu bankers bills az St.S1lt
04STis for demand and at SiSlI4Slh for
sixty days posted rates, SlS2H4. S2l2 and
S. sSir. commercial bllis' S4SOa i.el. ST.
yer certificates. JSls0J3@; bar silver, 5S's;
Mexican dollars. 47it. Government bonds
weak. state bonds inactive. railroad bonds
strong.