The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-12-28
MARKET IMPROVES
Fair Gains Were the Rule in Wall
Street-BusinesS Was More
Active and Prices Improve
HODGES HIT COP
PERS AND CLOSE OUT
Good Undertone in Boston Trad
ing, But Few Changes of I'M
portance-NeWs and Notes

The resumption of business in London
tended by no further trouble; on the
contrary, prices advanced and the feel
ing of confidence that the crisis is past
grew decidedly
This encouraged continued improve
ment in Wall street and the market was
almost buoyant in its brisk rally.
Transactions were large, nearly 100000
shares changing hands in the first hour,
and gains in prices were substantial and
well maintained. The Atchison made its
November earnings report, showing net
increases by $44S000 over the cores
ponding month of last year. This fresh
evidence that in all of the speculative
and monetary troubles of late the genu-
inc business of the country maintains
its great volume was received with
great satisfaction on the street. In truth
it has been financial and not a mer-
camille panic. General business abates
not whit of its great volume and now
that stocks have suffered SO severely
from Misrepresentation in some direc-
tons and low level of values has been
a great investment demand for good
securities when the January payments
are released.
The fundamental basis for a great
January market is here; granted i'm
munity from further monetary pinches,
with clearing of the London situation,
and there is good reason to expect COM
paratively rapid recovery in good
stocks. Gains yesterday were diStribut-
ed well throughout the list, all depart
ments sharing in the improved tone.
Even the failure of a Boston brokerage
house produced no more than moment
airy effect. This failure. is one of the
chain of unpleasant developments con-
sequent on the Globe Bank-United
States Mining difficulties and is recog
nized as having no other bearing on the
situation. 1t represents past, rather
than present conditions, in other words.
Boston had a good volume of business
in c. B. & O., Sugar and some other
specialties and most of the mining
shares were steady at least, although
none of them were active.
The New York stock market opened
strong. American Steel & Wire 4434
Atchison preferred SSH, Burlington
1898, Continental Tobacco 3014, Federal
Steel 471h, Leather 143s, Louisville G.
Nashville 773s, Manhattan 921a. Missouri
Pacific 3S, Brooklyn Transit 69% Nor
thern Pacific 52h, Peoples Gas 9SA,
Rock Island 10412, Sugar 125, st. Paul
116A, Southern preferred 52%, Tennes-
see Coal & Iron so, Tobacco SO, Union
Pacific 45A Union Pacific preferred
72N. The departments for Americans on
the London exchange showed gains
throughout this morning, and the stock
market at New York opened higher in
sympathy Gains in a number of the in
ternationals and leading industrials
approximated a point. The market was
active and strong in the opening deal
ings.
Some effort was made to induce weak
ness in the general market by raiding
Sugar and Brooklyn Transit. These
stocks yielded point, and Tobacco,
which was run up AZ, to 95, reacted 213.
Other issues meantime held firmly and
a subsequent demand for the Western
and International properties lifted them
materially. Covering began in the In
dustrials, the gains being most note
worthy in the local traction stocks. The
announcement of the failure of a brok-
er's firm in Boston caused sharp re-
action and dull market by the end of
the first hour The lower level of prices
attracted some outside demand which
was most manifest in the grangers and
trunk lines. Their exhibition of strength