The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-12-28

NEW YORK, Dec 27.-The market for
securities showed the effect of the great
relief felt by the dissipation of several
factors Of apprehension and prices mount
ed upward with increasing buoyancy as
the day progressed. The market closed
with burst Of animation and strength at
the top level of the day. Net gains in q
number of important railroads reached
points with long list of advances a.
point or better. Among the industrlals
and specialties gains were even more
striking, quite a number having advanced
from to 10 points as result Of the days
trading. 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 q solitary
exception and was subject to vigorous
attacks all day in an effort to unsettle the
market and check the advance. But this
stock, although it ranged over more than
four points, closed with net loss of only
| a 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 exchange
proceeded. Since the last settlement on
that exchange, Great Britain has suffered
three notable reYerses to its arms in
| South Africa, its three columns of in
vasion have been paralyzed, and as a re-
suit alarm spread through the financial
| centers of the whole world. Grave fears
were felt that the resulting shr nkage in
| values would prevent many operators on
! the London exchange from meeting their
| enga gements at the current settlement.
Tie news this morning that no acute diff
| fculties had developed that money con-
| ditions were easy and prices inclined to
advance rather than to decline, brought
| immense relief which was promptly re-
| Elected al the opening here in an advance
all along the line. The only notable
check came with the news of the failure
| of Boston stock exchange house, but
this influence was only temporary and
slight.
The conditions in the money market
were notably easy and one of the largest
individual money lenders in the streets
made large loans to carry over until next
Tuesday, at the rate of 6 per cent. The
current rate ruled from 4 to per cent
The close of the year is universally eX-
pected to terminate the period of severe
stringency and to be followed by relax
alton, owing to disburs ements Of divi-
dends and interest, which will be on an
unprecedented scale.
There was some discussion of the prob
able amount of gold exports on Saturday
owing to the easier conditions in the Lon
don money market. The buying to cover
short contracts, although it was con-
siderable 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
ANNA ton until near the close, and the
individual transactions were not on
large scale In fact the number Of odd
lots traded in was feature of the day,
and reflected the investment demand by
buyers who take stocks out of the mar
ket to lock up end 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, $z,32O-
! Coo L. s. new As declined &c in the bid
price.
STOCK QUOTATIONS.
Furnished by Charles H. F. Smith &
Co., members of the New York stock eX-'
change, Pioneer Press building, VINO nave
direct wires to Chicago and New YORK.
Closing prices are BID: -