Birmingham state herald., 1895-12-21

for business, and the movement continued well into the afternoon. LoHden, which has been selling our securities ever since Presl- dent Cleveland's message on Venezuelan boundary matters sent in to congress, turned up again at the start with llquidat- ing orders, and it is estimated sold about 50,000 shares of various American stocks. Local operations who have become weak ened financially by the recent Dreak In the industrials were forced to sell and thus add to the depression. No discrimination was used, the gilt-edged issues as we'll as the rat-traps all being thrown on the market apparently regardless of price. Rumors of heavy withdrawals of gold for export to Eu- rope next week also had a demoralizing in- 1uence. Some of the estimates were that $10,000, 900 will be forwarded, but at the end of the day no one could be found to confirm this or anything like 1t. Again money, when has been ruling at per cent and under to stock exchange borrowers, suddenly rose to 80 per cent, and a number of banks began to call in loans. This helped to swell the amount of offerings of long stock and three stock exchange firms were forced to the wall. The firms in question (Messrs. 5. 5. Sands & Co.,; Nichols, Frothingham X Co, and Deneufille & Co.,, in announcing their suspensions stated their insolvency was due to the failure of their customers to respond to calls for margins. At the consolidated exchange there were also two small failures. The outpouring of stock and the lack of sup port from any quarter led to break of any where from to 1512 per cent. National Lead preferred declined 1512, Consolidated Gas common S. Pacific Mail 6l5, Pullman ', Omaha s, Southern railway preferred 6A4, Tennessee Goal Manhattan S' e;,eGssl Jersey hannah preferred 9, Canada Southern 5 Michigan Central 7&, Illinois Steel 1, Lotus vile and Nashville 10A, Laclede, Gas Sla, Lake Erie and Western preferred S. l7ake Shore s, General Electric 9l4, Denver pre- ferred 6lR Lackawanna }, Colorado Fuel e52' St. Paul 10 Burlington and quincy 67s, Northwest 79s, Chicago Gas 7&. Kansas and Texas preferred 912 and Missouri Pacihe
 The Canadian banks were among the first to call in their loans and in answer to in quiries some of the foreign capitalists sad that they were compelled to use the money to purchase exchange. Borrowers were compelled to seek elsewhere, and near the close the Central Trust company came into the market and offered 5 900, ,00O, which broke the money rate from 80 to per cent. In the final dealings the rate worked back to oo per cent. The decline in money started up a little better demand for stocks generally; and on purchases by bargain hunters ana others recovery of 1G17 per cent LOOK place in the standard issues and Il per cent Tn Lead preferred. A rumor which had some influence was to the effect that the head or the Belmont-Morgan syndicate had ,pied pHea 3 per cent to 2i, Consolidated Gas o12, -ao 10 145h; Sugar "A, to 96A Tobacco SA, to 12; Nashville 3g, to 42ai Manhattan 5 to l00 New York Central 6A to 9S12; Canada Southern 2A, to 46; Jersey Central 2s, to to Hudson 2A. to l2OA; Lake Shore 4, to l46; Susquehanna and Western preferred SIS, to 23; Southern Railway preferred A., 10 zo2t; 6i%, and Western Union 25s. to S59s. The gain was not fully maintained, however and in the final trading the market was feVerish and unsettled. Net changes Tor the day show losses of TOT per cent.
 The total sales were TAB, 279 shares odd ne5ud- I ing 119,500 Sugar, 101 coo St Paul, 4oo oo9 B Bup o Iington and Quincy, 37 300 Tobacco and S4,SOO Chicago Gas.
 New York, Dec. 20.-Money on call was active at 80, per cent, last loan at 30 per cent; prime mercantile paper, 4lAa51s per cent.
 Bar silver, 66Ac m actual business in bankers bills at $4.SlAW ASS for sixty days and $4.S9Q4.S9A for de- cial bills, S4.S7@4S7la.
 Government bonds were weak.
 State bonds were lower.
 Railroad bonds were heavy:
 Silver at the board was dull
 Closing bids