Worcester morning daily spy. (Worcester, Mass.) 1888-1898, 1898-01-19
A WEAK CLOSE.
A Fairly Strong Opening Yields
to a Bear Raid.
Prices Fall in Response to Liquidations-
Rumor Mongers Were Rusy-
Bonds Held Firm,

New York. Jan. 1S.-Prices were
slaughtered in the afternoons trading
on the stock exchange today, especially
in those properties including local trac-
ton lines, which were most benefited
by the markets buoyancy yesterday.
Prices opened with fractional appreci-
alton in values in sympathy with Lon
don, which traded moderately both ways
but buying slightly more than they sold.
Large operators were not very active
in the local market until the late trad
ing. There appeared to be general
undertone of strength in the early
transactions, but the temper of the mar
ket gradually changed, and rumor-
mongers were not idle Among other
efforts to depress the market there was
in circulation an unfounded story that
the United States minister to Spain had
sought the protection of the BRUSH en-
bassy at Madrid. Realizations OF pronts
by larger interests aided the bear raid,
uncoverng stop loss orders. The mar
ket closed at, or near, the lowest, ana
very weak.
Manhattan, Elevated, and Metropoll-
ton Street Railway, advanced early on
manipulations but the interest that en-
gineered the advance in these securities
later seemd to hav changed their posi-
ton Sales under the rule today 1or the
account of brokers who suspended yes
terday depressed Brooklyn Rapid Tran
sit. Cleveland and Wheeling. and Ten
nessee Coal and Iron, and some Grang-
ers. The senate finance committee APP
prevail of the Teller resolution declaring
for the payment of government ponds IN
either gold or silver, was used by trad
ers as a bear card. The resolution pre-
scented in the house in the form OF ar
amendment for the recognition or CUBAN
belligerency was not known until near
the closing hour. In the general INST the
decline from the high point ranged from
/ to 2 points, but the losses IN most
cases were fractional
The net losses of over point were IN
Burlington u.s. Manhattan Us, Michigan
Central IL, Mobile and Ohio IL, New
Jersey Central IL, New York, chicago
and ST. Louis Cd preferred 2, Plttspurg'
Cincinnati, Chicago and st. Louis pre-
ferred 1ss, and Tennessee Coal and !roa
III. Along the gains were American
Spirits preferred /, Denver and Rio
Grande preferred /, and National Starch
1st preferred 8. Easy money and FAVOR
able statements of railway earnings hao
no influence on prices
The bond market was well held des-
pite the heavy liquidations in the STOCK
market. Issues which nave peen con-
spicuous in the dealings of late contin--
ned to vibrate very violently. Total
sales $S.840, 600. Government bonds
showed some hesitancy with quotations
for the SIS shaded.
New York, Jan. 1S.-Money on call
easy. at 2@21a. Last loan at az per
cent. Prime mercantile paper BOA per
cent. Sterling exchange steady, with
actual business in bankers bills at
$4,000 S44 for demand and at Asa
IA. S2sz for 60 days. Posted rates 4.S3
IA. S31z and 4S51a@4.S6. Commercial
bills .S1% Silver certificates 56S Obs.
Bar silver 567s. Mexican dollars 451s.
Government bonds irregular State
bonds quiet. Railroad bonds firm.
NEW YORK CLOSING QUOTATIONS.