Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-12-28
REVIEW OF MARKETS.
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange. Bonds, Grain,
Cotton, Provisions. Etc.

s- New DIX, Lee. Si.-INc n1arheC LOF
securities 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 mar
ket closed with IL burst Of animation
and strength at the top level OF the
day. Net gains in Il number of import
ant railroads reached three points, with
long list of advances u point or better.
Among the Industrials and specialties
gains were even more striking, quite
number having advanced from 4 to
10 points as Il result of the days trad
ing.
The demand 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 soli-
tary exception and was subject to Wig
orous attacks all day in an effort to
unsettle the market and check the adj
vance, But this stock. although it
ranged over more than four points,
closed with Il net loss of only II point.
The leading influence in the improve
ment of sentiment was the quiet and
orderly manner in which the periodical
settlement on the London Stock EX-
change proceeded. Since the last set
Element on thatcxchange Great Britain
has suffered three notable reverses TO
It's arms in South Africa. it's three
columns Of invasion have been para
lyzed, and as Il result alarm spread
through the financial centers OF the
whole world.
ing shrinkage in values would prevent
many operators on the London eX-
change from meeting their engage
ments al the current settlement. The
news this morning that no acute diff
culties had developed. that money con-
ditions We're easy and prices inclined TO
advance rather than 10 decline. brought
Immense relief. which was promptly re-
Elected at the opening here in an ad-
vance all along the line. The only no.
table check came with the news of the
failure of BOSTON stock exchange
house; but this influence was only tenn
porary and slight. The conditions in
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 at the
rate OF six per cent. The current rate
ruled from ! to 5 per cent. The close
or the year is universally expected to
terminate the period of severe strin-
gency, to be followed by relaxation.
owing TO disbursements of dividends
and interest which will be on an I'M
Dreccdented scale. There was some
q discussion Of the probabl 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 to cover
short contracts. although il was con-
siderable clement In the advance, was
itself induced by the very substantial
character Of the buying for long ac-
count and the manifcstly small supply
OF floating stocks. The trading did not
take on any great animation until near
: the close. and the individual transac-
tons were not on large scale In fact
the number Of odd lots traded in was n
feature Of the day, and reflected the
investment demand by buyers who take
stocks out of the market TO lock up
and keep.
Investment buying was in evidence
also in the bond market. wherever the
fall in prices had offered opportunity TO
secure fair return on money invested.
The bond market was active and
strong throughout. Total sales, par
value, s2,S20,O0o.
U. S. new As declined &c. in the bid
price.
The total sales OF stocks were 6G4, 300
shares.
New York, Dec. 27.-standard Oil
4.50@4,59