The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-12-30
THE MARKETS.
Wall Street Review.

New York, Dec. 29.-The New York
stock market testified its relief over
the practical completion of the year.
ly settlement by bidding up prices in
Il striking manner today There were
signs of hesitation and reaction at one
time when the money rate furried 90
10 per cent simultaneously Win the
appearance of the statement Of Mo-
vember earnings of the Cni,tgo, Bur
lington and Quircv railroad. This
statement showed Il decrease in the
surplus earnings after charges for the
month of over S2l5,O0G; and cCming on
top OF yesterday. similar exhibit by
the Chicago, Milwaukee ana st. Paul,
made a natural impression ON senti-
ment as going to Snow the inevitable
effect OF the high prices Of material
upon the operating expenses of rail-
roads. The granCcrs we're most affect
ed but prices in the railroad list gem
orally ran down TO about last nights
level The completion of the period of
money pressure. however over
shadowed all other considerations and
gave rise to a feeling ON the part OF
security holders closely akin to eXul-
tation. About the time the London
stock exchange closed the most not
able movement of the day was inau-
gurated. The fact that tine periodical
stock exchange settlement was COM
plcted with no failure of grea. import
ance was a gratifying surprise in the
financial world. The international
stocks in the late buying Were the fa-
vorites in anticipation of a demand to-
morrow from LondCr. Although the
call money rate advanced sharply in
London. discount rates dropped off
fully !, per cent. with Il resulting ad-
vance in the London sterling rate in
New York. The private discount rate
in Berlin also showed n further de-
cline, 50 that the foreign market in
which a crisis had been feared all
showed clear skies.
In our own market loans made today
will carry over until next Tuesday. II
was this fact which ran the rate up
to IS per cent. \ fayora bic bank state
ment is counted on for tomorrow. in
spite of tha fact that some $6,O000OO Of
gold exports will figure in the state
mant. on the regular express move
ment Of money 90 the interior the prin-
cipal banks have gained upwards of
So 100000 and on sub treasury opera
tions they have gained s1,4SS,O00. Be
sides this there have been very large
receipts of money by mail, estimated
all the way from $iOO0.G00 to $1,000, 900,
so that the net gain in cash from all
sources is estimated at from S2,000,00O
upwards. In the late strength of the
market the trunk lines were very con-
SpiCuOuS led bV the Baltimore and
Ohio and Norfolk and Western stocks.
a rumor was circulated to the effect
that the plan for harlnonizing trunk
l.ne interests was soon to be announced
and that it would include Norfolk and
Western as well as Baltimore and
Ohio. Gains in the specialties We're
larger than in the railroads except
that sugar and Metropolitan Street
railway were more or less under pres
sure. The New York city gas compan-
les, the coalers, general electric, Paci-
fic mail and the steel and iron stocks
show some striking gains and many Of
the railroads are point or more
higher 4 notable feature of the days
trading was the number of odd lots
dealt in.
Some Of the minor bonds showed but
the general tendency, but was up
wards. Total sales par value s., ,2iO 900.
United States old Is and IS declined
4, and the Sc a in tho bid price. To-
tai stock sales SOL 800 shares.
The following quotations are furnished
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