The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-12-21

downward movement. Slight rallies
occurred several times during the fore
noon. but the continued selling pres
sure swept them away. The lowest
prices extending to 1914 per cent IN
lead, preferred dropped 17A per cent.
Other of the extreme declines were IN
consolidated gas 13; Louisville and
Nashville and st. Paul 1914; Rock Is
land. Kansas and Texas preferred 9Ha
Incidental to the failures of 5. ).
Sands and Company; Nichols, Froth-
ingham and Company, and De NeuYllle
and Company, which were announced,
sales of securities under the rule were
made.
The volume of business was on
tremendous scale. The dealings in the
first half hour registered al, 4S4 shares
and in the first hour 243, 1875. Trading
in bonds was also an almost cores
pondingly large scale and the losses
ranged up to Is per cent III Wisconsin
Central first trust receipts.
The unfavorable general conditions
affecting the speculation were aggre-
waited by sensational advances in the
call money market. The first figure
quoted was 6 per cent and at l2:4o
o'clock the price was bid up to % per
cent. Large sums were loaned at and
between these figures. The sterling eX-
change market also ruled firm and
higher. actual rates for demand rising
I'D over yesterdays rates, while sew
eral leading firms advanced posted
quotations for sight bills to 1901 To-
ward / o'clock. the selling pressure
abated and a sharp rally in prices oc-
ltJ
which a large part Of the improvement
was lost, on jump in call money TO
| so per cent, the highest figure OF the
day. 4 break to 6 per cent stimulated
liberal buying in the last hour, caus-
| ING recoyeries from the extreme low
points ranging up to IL per cent III
lead preferred and in the more active
shares up to per cent IN Manhattan.
Near the close money again stiffened
TO so per cent. closing at TINS hSufe.
This caused recessions from the mn
proyements noted and contributed TO
an irregular closing. The market ieft
off unsettled at net declines extending
10 81 per cent in St. Paul. The a2gre-
gate sales were 743,276 shares, includ-
ing lis. 700 in sugar and 100,5o IN ~,
Paul.
The railway and miscellaneous bond
market was in as demoralized a con-
dition as the share market and heavy
blocks of bonds were thrown over on
liquidating orders. The foreign sell
ing was very large and the internation-
al issues sustained material losses. In
sympathy with the stock market there
was sharp rally in the late afternoon
trading, the recoveries in prices reach
ing six per cent! Dealings were on
heavy scale, aggregating $3,24s,0O0 or
about three times the recent daily
average.
Governments sagged sharply on sales
of $4,000. State bonds were heavy,
particularly for Virginia centuries The
dealings footed up $4,000.
NEW YORK. D,e 20. Money CD csil
easy at 5QS pef cent. last oan al 20 per
cent, closed offered at 80 per cnt M
Prime mercantile pare 4kM5lS per cen
| Sterling exchange firm, with actnal bnsi-
ness In bankers b lis or n al s91I for
demand, and 4.s7a4ta4.o8 Il 81 DAYS +osr..
| ed rates SS15tla 80 nd 1872 N4 9HH
| Commercial bills 4s7 silver certificates
| 661z@67 Bar silver "a. Mexican dollars
- Government bonds weak AID lower:
With new tours down N per ent each.
Sta:e b nds dull. Railroad bonds fir1 er.