The times. [volume] (Richmond, Va.) 1890-1903, 1898-12-17
THE UNDERGONE
WAS VERY STRONG
Although Trading Was Less Active
Than 1t Has Been Lately
A CONCERTED RAID OF BEARS
Its Strength Before. the Delivery
Dealings In II. & q. We're
Features of Bond Market.

NEW YORK. Dec. 1G-Trading to-day
resulted Ia only trifiing changes In promi-
neut stocks. The speculative purpose OF
England was evident on poth Sues OF me
market with purchases ON balance snsht-
~ in excess oil sales. trading localA was
less active than OF late but very strong
undcrtOno was iu evidence. The traders
seemed largely on the short side. where
there was buying by commission, houses SCI
and pool SUPPORT Speculation during me
afternoon was very light. The market
became dull with thc cancellation OF or
ders In commission-houses. In the after
noon a number oi hitherto neglected.
stocks were taken up ana advanced sharp.
~ PiffSburC Cincinnati, Chicago ana
81 Louis leading with a jump Of "a. but
Improvement was almost eradicated In the
late slump. The revamIdng or the olu
story Of Chicago and Alton passing into
new hands was to-day connected with
Union Pacific instead OF Missouri Pacihc
or Michigan Central. as the former ru-
mors had H. To this tale. perhaps, was
due "A rise I'm Union Pacific In the late
hours the bears. by concerted action,
reached stop--lOSs orders and carried
prices % from 20 , per cent. generally;
By delivery hour the movement petered
out. and after a period Of dizziness, prices
picked up 20 around. Newspaper articles
treating the sugar trade as farcical re-
suited in "a sharp rise In that STOCK AT
the opening. which was soon lost tne
closing being at last nights figures Rub-
her continued It's weakness 81 lf~h'i'N' s
losing 2 points Brooklyn Traction was
very strong. crossing "A on intimations
that "a long-eNpected deal IN that pInp-
ertv might be looked for soon. Inc
VranCcrs were very strong most OF the
aay but reacted with the rest Of the
list on the bear rise.
The feature Of the bond market to-
DAY was the enormous transactions IN
Baltimore and Ohio 3ia's. The transac-
ttons that attracted considerable atten-
ton were OF SIl3 900 and SJ69.ep al ~.
intermediate transactions Included many
blocks OF 10000 and over me genera
tone was very unsettled. with the semi,
speculative issues tending lower. Iolal
sales SS.355ooO. United states new
and the IS coupon advanced "a, ana the
IS and old as and IS registered = IN the
me total sales OF stocks were 1000
shares. including 1OG0l Atchison. 32.34O
do preferred. 1876 Canada southern 20
$50 Central Pacific 2J.UO chicago, Sur.
nngton and quincy; h9lO Denver ano
Rio Grande preferred. 123o Louisvlle
and Nashville: 1850 Manhattan; 1850
Minnesota and st. Louis, IL. 40 missouri,
Kansas and Texas preferred; 1880 New
York Central. 9.455 Rock Island l2.1Zb
Union Pacific: 2o.4O3 ST. Paul; o,Go 81.
PAM and Omoha: 1919 Federal steel;
p $50 do. preferred; 2@9iO Feople Has,
sis0 standard Rope and Irvine: 1872
Sugar. $50 Tennessee Coal ana IRON
~ 266 United states Rubber.
MONEY AND EXCHANGE. Money on
call steady 81 2An2i2 per cent, last loan
at 9ql per cent Sterling exchange steady
witt actual business In bankers DIS
AT Stis for demand and at 81 Sll2HfNlA
for sixty days posted rates, Sl.Sz12h
ash: commercial bills. S4NlA SlNef
certificates 5ginfNis. bar silver. JH's
Mexican dollars. -. Government bonds
-.r8ng. state bonds firm, railroad bonds
Irregular.
Rank CLEARINGS.-Th total bank
rfaarines i'm the United States for the
veok were 81 .6gi. 10. 2DS. per cent. IN
crease ga Exclusive of New YORK, S0l"'-
.... no.. ,.,r conf increase 14.N