The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-12-22
THE MARKETS BY TELEGRAPH
Money, Stock, Bond and Produce
Quotations
WALL STREET SPECULATION
An Opening Emphasizing the Democrat
ization of Friday
Sales For Foreign Account Break All Records
OF Amount OF Dealings-All the Stocks
Show Heavy Declines -
WALL STREET SPECULATION


Associated Press Special Wire
NEW YORK, Dec. 21.-Thc trading at the
opening of the stock exchange session TO.
day was even more demoralized than in
the initial dealings of yesterday. London
cables showed lower prices, but reported a
better tone prevalent at that center. Never
theless, the foreign houses continued to I'M
load American securities and the decline of
values IN the first quarter of an hour was
very severe and extended to 8 per cent in
lead preferred. The decline in the leading
railways was headed by Lake Shore with a
break of per cent. The ilurries then SUBJ
sided and prices took a turn upward. Lead
improved per cent. In the final dealings
there was considerable pressure against
the graugers and coalers, which resulted in
heavy losses. The tota. sales were 1884,
$50 shares, including $4,000 in sugar. A
week OF intense excitement in financial
cir cles has just been brought to a close.
Seldom, il ever, has the stock exchange
been convulsed to such degree and for SO
long period as in the present instance.
Heretofore the panics have quickly SUBJ
sided and the bottom has been reached by
rapid stages, but upon the delivery on
Tuesday last of the presidents message on
the Venezuela imbroglio the stock board
has steadily increased.
Associated Press advices on Saturday
declared the Rothschilds' story to be a
canard, and announced that the London
bankers had resolved to make no with
drawals of American credits for the pres
ent. AS a result, declines made in the
n o,,I
steadier tone temporarily governed the
share speculation. The improved feeling
was of brief duration, and the gains made
were in many instances almost entirely
wiped out, and the market closed decid-
eddy heavy in tone. The sales for foreign
account are estimated at about 100000
shares, which breaks all previous records
At the extreme low point on Saturday,
among the more important declines COM
pared with the high prices prevailing
earlier in the week were: Consolidated Gas,
24E per cent; New Jersey Central, 177s
per cent; Lead, preferred, 1917; Sugar,
1919; Pacific Mail, 11M; Northwestern,
114; Denver & Rio Grande, preferred,
1O94; Colorado Fuel, 1OA, and Atchson-
preferred, 9S per cent. The dealings for
the week reached the extremely large total
of 2,253 900 shares. The decentralization
of prices of railway and miscellaneous
mortgages which occurred during the we elk
was attributable to the same influences that
dominated the stock market. The deal
ings were unusually heavy, and the depres
sion in prices was very severe in
the issues having a foreign mar
ket. The trading for the European
account was very heavy. The aggregate
sales were $13, 542 900. Among the great
est declines were: Atchison adjustment
tours, 81: do tours trust receipts, 81; dc
seconds trust receipts, IN; Chicago and
Northern Pacific firsts trust receipts, N :;
Colorado Midland first trust receipts and
Texas & Pacific firsts, per cent; Union
Pacific, Denver & Gulf flrsts and Oregon
Short Lines, skies trust receipts, 81; do
consol fves trust receipts, ~; Rio Grande
fives 81; do seconds, 6; do collateral
trust skies, 5s4; Northwest debenture ftves
of 1909, q per cent. Government bonds
ruled firm during the greater part of the
week and some issues scored slight gains.
Toward the close, however, there was a
decided slump in values, in sympathy with
the general weakness of securities owing
to the scare. New tours are down per
cent; do tlves, ~; old tours registered
and do coupon, "a. The total sales wer
only $5S 200, which goes to show that the
panic did extend to the government bonds.
Trading in silver certificates was in fair
volume and purchases were made at an
advance of per cent over the final sale
of the preceding week. Subsequently u
per cent of the rise was lost. The trans
actions footed up $4,000. On today's
bond market the sales reached So ,O97 200.
The trend of prices was sharply down.
ward. Toward the close there was a stiff
fleming in values of the speculative issues.
Final prices, however, were considerably
below yesterdays close.