The San Francisco call., 1899-12-21
EASTERN MARKETS
Ne5U York Stock Market.

NEW YORK. Dec 20.-The stock market
gave a demonstration of improved tone and
nerve Ia the spirit with which II accepted
slump of l3a points In Brooklyn Transit ac-
companled boy sympathetic weakness in other
Stocks allied 20 H. II cannot be said that
this violent decline WAS viewed with indif-
ference for II effectually checked the advanc-
ing tendency In the general market and worked
a reaction extending over points In a num-
ber of standard railroad stocks and from, 4 10
points In some of the industrials Thanks
20 the earlier rise in the market. however. and
the rally following the slump net losses are
IN nearly all cases small and some substantial
net gains are shown By important stocks The
break IN brooklyn Transit was attributed TO
count concerning which many unfavorahle
rumors of Monday were revived in fun force
ana exaggerated by the bears with view 10
breaking the market. Al this time last year
after notable advance, the stock sold at
about y. and by April Of this year II touched
the hlgh level az l51 without ever having paid
a dividend. IN the Generalization which fol-
lowed the sudden death of Ex-Governor Flower
the organized Efforts 10 support and save the
market conyerged upon the stock and kent IN
above par. There was that 10 be accomplfshed
to-day and u pursued its course but was nor
allowed 10 unscttle and demoralize the whole
market as Was the case Monday. The tone
oi the market during the early hours was
nearly normal except that trading was active
and fluctuations rather wide. Prices had ad-
Nnnoed and received an additional impulse up
in New York Centrals dividend rate that
rtock rising 20 1901. Extreme declines from
Alf hAhl lfAfl IN Ntfer fnnn BROOKLYN Transit
were; Sugar. N; Federal Steel. 6: Peoples
Cas- Manhattan and Tennessee Coal about
and Tobacco and Metropolitan 4. The weak
ness In railroad stocks which showed the larg-
est declines could be traced in part 10 the
same sources az those which were responsible
for the break In Brooklyn Transit The de-
clines extended 20 points only IN Rock Island
Atchison preferred. Burlington St Paul and
Louisville. In Brooklyn Transit, sugar. Fed
eral Steel. Tennessee Coal and Peoples Gas
the recovery reached 20 ca points and Al
amounted from 70 points all through the
many and various. and transactions in II alone
have gone 90 make mp the bulk OF trading
have been single weeks when the total trans
actions IN this stock exceeded several fold its
total capital issue and Il has been the favorite
of the highly speculative class who delight
IN manipulation and mystery. Previous 20 this
week its low price for this year had been 7biS
On Monday II touched 65ia IN the general
decentralization. To-day Il touched 81 and re-
bounded 81. This review Of the course OF a
single stock Is fertile in suggestion OF ex-
weeks market. During the day when Brook
lyn Transit was showing most acute weakness
was in plentiful supply. The rate AT no time
rose above per cent and in the late Dealings
fell 20 per cent. or yesterdays low level
During the day an engagement OF gold FOR
shipment 20 London was announced and rpl-
mors were current of further heavy engage
ments 20 80 out on Saturday. The announce
ment and the prospect seemed 10 have no
effect on the local money market. The anomoiy
OF per cent money rate and gold being
allowed 20 20 out while stocks are forced 10
LIQUIDATION az heavy sacrifices warrants no
other corciusion than that the security offered
FOR loans 20 carry stocks I'm some instances IS
unsatisfactory. Such iE known 20 be the case
Yesterdays measures Of protection and relief
were sfiil IN force to-day. The market closed
strong at the rally at mixed net changes.
The bond market was active and showed later
reactions from the early strength. making the
tone irregular. Total sales. par value. 50, $780,.
600
United States 2s. IS, old Is and IS advanced
y IN the hid price
NEW YORK STOCK LIST.