Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-12-18
High-Priced Stocks Thrown Over
Regardless Of Price.
MONEY UP TO 1875 PER CENT
Pnnichy Indications Conditions In
London-Livc stock aud rrod-
nee steady TO Weak.

New YORK Dec iS'-inei" was
ncwal OF saturdays liquidation on the
rcrumption Of business In the stock
rna,i,,, mia mornlnv Trading was ON
''',' ~ 10 -. =,
large fcaie ana ueeiihes Oh "
points were effected In the prominent
snecinitica Rnilwnya were better sup.
.., -, -. A., -, ,,..,, ti,,t,,,i
priv" ""' 'Vns'' ~ ''''' -,
to fractions except southern faelhe'
which reccded a point. Heavy buying
In .u,,r ,at,,.d a, 9tL IN 4 n and atead-
:" 'us"' ,.',,. -.
led inc keherh hh1 Speeu'"'''" was
very fcvcrirh for II time, many shares
vibrating n point or no either way fro
,,,,,,,,. Il, ~, ,,.,orc,. industrial
auoh''S' ~ h''ie h'''"'ee'
stocks advanced above Saturdays
close, cases In point being sugar.
p.,o,,tyn ,ro,.t, poonie's pna md
s.s -.
Metropohthh hrec' runway "ea"
while the railways moved sluggishly
and determined drive against the
grangers dropped Rock Island nve ana
forced the Paoiiics. Southwesterns ana
trunk lines on lag points. Metropoll-
tan fell .. Tennessee coal .. sugar ana
Peoples gas I. md Federal steel
points New YORK air brake fell 10.
support developed In the market after
II o'clock. ana substantial rallies &c.
| CURED In numerous cases. The upward
movement, however, was soon arrested
by the announcement OF the suspension
OF trust company, and the selling
! pressure on this news was further In
icnsiiled by the failure OF board mcm-
Der. Liquidation wns In tremendous
volume high priced stocks being
thrown over regardless OF price. The
principal sufferers were the high priced
/ speclnltica. Metropolitan losing ~.
American tobacco ~, Third avenue
! 1 49, a al Nl... al IN
/ OF spccinltieH Q to points. The rail
/ way group, the New York Central, the
\ grnngers, Atcnison preferred and the
| paclncs were on from to points with
the maximum In Rock Island. Toward
/ midday there were allght recoycrles In
spots. but the list remained exceedingly
/ foverish and unsettled There was not
| much activity In bonds owing to the
/ sensational stock operations, but the
prices were lower. Wabash debentures
losing points.
The bears made seemingly reckless
lncurslons into prices and dislodged u
perfect avalanche OF the stocks. prices
| dropping "A point or more between Hlics
The market fell Into utter demornl-
lzation which continued until after $3.50
o'clock. when tho bears began covering
| bidding for stocks In the same reckless
way In which they had sold and bring
ing prices back u point or upward At n
/ Jump
The rush OF bears TO cover carried the
| prices Of stocks which have suffered
more severely up again from to 10
| points The excitement was extreme
and continued with furious activity up
TO the close OF the market
Ton minutes before the close money
was loaned at 1875 por cent
The relief caused by the declaration
OF the banks TO do what they could to
keen the money rate down, kept the
market quiet for a while. and some raj
lies were made. As the day progressed
the urgent needs for money caused a
violent advance In the call loan rate on
the board Thirty per cent was paid
and at times 90 per cent was bid. fol-
lowed by n demand for money AZ 20
per cent. Stocks gave way again all
around, and were thrown over In great
volume. Some OF the more violent de-
clines We're In Metropolitan 10 points:
uron,.,yn irspsi, 7. Nanhnttan d.
No,v ynrE cantrnI 4, c,rent Northern
nrererred az. Federal ateei Z. unriinr,
! ,nn 4, 4 o,,ls,,iiIc A. Continental toharco
4. ana n large humber of railroad
stocks a points ar over
,rha s,,dda,, t,,,n,, IL tho ,,,,.,, r,,,
IN 70 20 ieo a1d iss n.r conf rci,ectcd
,he irncrn,i,,a ne,Ja n, l,rs,, ,n,creS,s
,o m'o, a,say.m.nts nm niarn,
snread In Tho stocls make, ana vIoIen,
inronds we're nnde an vni,,es pron,
| of IA mint nnd inward were mn IA
throu,h ,narv s,,ccassiv. a,n,,.s Snn,,
~ INC o~trane doci,nes yyarc tohnc",
an Na,,oraiI,,n sau ,ronrasss,, s,,
"a, psonio's ans N. nraoi'ivn trnnsi,
ana Fedcrai steel ieia, Mnnhnttnn q
Con,inentaI ,ohncco iaih, sh,sar ma
nnd n inns III, ~ a,ncts ,rnm 4 10
noInts nv. vinisncs ~, Tho decIinc nm,
Inc large nrodt offcrei M hcor npcra,
,ors invIteh h,,vln,, "a cnv.,. shnrt COZ.
tracts nnd nrtcos ,acovcred he succes
sive tumna ~ n noin, me roIIv 4,
Metronolita, rcncbcd 10 roints nnd i,
Federal steel tobacco prnnlsivn IRAN
sIt sugar Tennessee coal 4 10 Z noints
Tho marl,et closed I'm n highly excite,
stntn and renewed decline in some nor
lions Of the iist while other atochs eon
timed their recoverv mo TONE wa
utterly unsettled and Irregular
,,,ptsv,r NEUTRALITY-SUSPICIOUS.
"N"NHi b~""i'Nl'~i-''
The air on the stock exchange at tn
opening today was one OF apprehen
sion and uncertainty. The comparntlv
steadlness OF the London market be
fore the opening here showed tina
! some power OF resistance to the dcprcs
3 sing effect OF the military disasters h
South Africa had developed thor,