Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-12-11
BEARS RAISED
A HULLABALOO.
Decline in Wall Street Heavier
Than for a Long Time.
DEALERS HAD A BOT TINE.
Heaviest stump In the Trust stocks
slight Rally Live st.ck steady
Wheat Low.r

New York. Dec, ii.--An exciting time
was count a upon on the st1c', exchange
this morning. ana the expectations Of
outsiders who gathered IN the gale.
rlcs TO wiincss the fcrincnt were not
disappointed. Saturdays fall IN prices
had hroueht In large volume Of SELL
ing orders from holders Of long stock
who have been clinglng 10 their hold
ings Ia the expectation thai tho market
would weather the money difficulties
unul the cnd u the year aud prices
would resist any serious decline. The
propontl,y which prompts humanity to
follow the leader" was ftflkingly cx-
cmpllhsd In the morning stock market,
when people who would not think "
selling stocks last week whom they were
8 10 u points higher. tumhlcd over each
cthcr TO sell this morning. Many u
them were forced TO do 10 by the calllng
81 loans with which they were holding
their utncka. Last week. shrlnklfc
% value OF stocks placed ns collateral
Tor loans served 10 cut down lhe credit
facilities on operators. Tho news % a
serious rcvcrg 10 Brltiah aums in south
Afflca awakened lively npIr0heuHlnn In
aid 10 the bears In the huI.ahalo0 lhgy
ralfod TO encourage the decline. The
ro-cailcd trust stocks wee the center
of attack, and Tennessee coal brooklyn
transit, American tobacco, sugar TN.
plate and Colorado fuel. were an severe
Is handled. After the frst violent dip,
the bears Wtfe scAali o. take the
very inviting proiits offefci. and cont
mcncod 10 buy. causing some violent
rccoVcrlca. hut the lack VI any large
demand encouraged them 10 renewed
efforts Cor the decline which carried
prices Of many stocks bcl0w the pre-
yious low point. Up TO noon extreme
losses had been made as follows; Ten
nesrce coal ~ points. Brooklyn transit
q" American tobacco :. sugar. cx-div..
~; Colorado fuel :. tlnpletc ih Metro
polltnn 81 Manhattan -. and many
other industrlnls or oytr. only q
few OF the railroads rrvlvod over 2
points, including New York Central.
burlington. Pcnnsylvnnia. Kansas,
Texas preferred. Dclaware a Hudson.
New Jercey Central ani Louisville.
ny noon another rally wac IN progress
on bear covering.
The liquidation had spent H. force by
noon and the bears becans heavy buy
era In thu latter part OF the day. Evil
prop 10 the whole market and bargain
hunters were inclined 10 come In "a
| buyers. Net losses were reduced a.
| moderate proportions all around nni q
sprlnkllnE OF net gains was cstab'
llahei.
SUGAR,
surnr-Rnw. steady: fair refining
ai2-iC. centrifugal. % test ~; mo
| inaseH sugar. 3g-iG, rln'd, quiet
crush, I. 5l.i6; powdered, 81; granu'
lated. 9-iG.
MONEY AND BONDS
Money on call easier % per cent
prime mercantile paper. ttnG prr cent
sterling exchange irregular with act
ual business In bankers bills az ASIA
u Tor demand aud iSiut Tor 90 days
posted rates. l.S21is and ash. com
mcrclnl bills, iS0uh,
silver certificates. 5?htt0
Hnr silver l9h.
Mexican dollars. i7A.
Government bonds STEADY: p reg
i.02. IS reg. iO9a. do coupon, i.0sa.
new Is rcG.. i.agii. do coupon, L3jA
old n reg, lis; do coupon, Ia Is reg
| liz. do coupon, LIZ.