The times. [volume] (Richmond, Va.) 1890-1903, 1899-02-04
ALMOST A PANIC
IN STOCK VALUES
The Early Hours Showed a General
Decline Which Was Checked Later.
BONDS YIELDED IN SYMPATHY,
But Failed to Iiccupcratc With the
Stocks-Kumor From Washington
of Jeopardy of Peace Treaty
Caused the Heavy Selling.

NEW YORK. Fob stock values re-
CeIttI severe test to-day, the market
q ono time bordering ON the paMchy
q. age through the enormous outppuiinB
Of stocks from pIoleslo"4l anu 'o.'i''' '.ss
siou-hou~c sources. but tnt Gay icl or
with irrcgulur changes OF traction
either way. with the tone strong. BEFORE
fuc opening DO was arsucd tndt yestcr-
Gay market showed that q reaction WAS
under way. lut % Was onlcnHeu lnat 'llse
forces resisting decline IN the absence or
decided tone t0 the carly market was D"
part due t0 the explanation OF "a pfohl-
mont buU leader that the market had
irod look but the people do not kh9"
what 10 do with their money, ahdi the
market resisted week or Two RlI
CONT money would uc prond oie Ihe
market opened rather irregular, ana sucn
strength as there was iu 20 disappeared
uuaor professional pressure. lheie Wa7
an absence of support from Iarst mtv
tefs. and realizing set in, when gave tue
bears announcement FOR vigorous
demonstration. which. after leeDle iHils,
t.-ulfnd lu many slpp-loas oIu,I7 ",iie
caught 10 was said on the moor lhut
heavy selling came from aenlnstoh.
and The rum0r gained currency thal ine
ratification OF the peace treaty Wa lit
IcluHrdy Tho market felt the tuects or
The heavy realizing that took place last
week and This The lowest prices lOf lhe
oil y were shortly after noon ne si"n5e,s
were down FROM 1N in 81 Paul 10 -.s IN
Eurliucfou. the COalers from 49, lh NtW
Jersey Central 90 ID, DOB Reading first
preferred. ln the Paciucs the range WAS
from ia t0 2ia. maximum loss in Southern
Pacific lu thc speciaiiies the aeclhe was
even more pronounced. ranging from
about % points u Sugar and Tobacco 10
5 In New York Air Brake. The declines
were very general. and emnraceo almost
everything of consequence. Large orders
auneared when the bear movement ape
foarrd t0 have lost us force ana llQuloa-
ton quickly ceased The bun leaders TOOK
hold of their various spccialues and help
cd fho recovery which continued pract-
cally 10 the close. with only mOmenta-
rily SLIGHT recession iu prOht-tahlns.
I'd turn ON the idea that much Of the weak
ncid stocks had been transferred TO
stronger Interests. Standard OH dropped
from 4J0 The bid last night. 90 offered
40 412 ON curb to-day. with transactions
ar as. and then rose 90 40. ana closed
af ASA 1855.
The bond market yielded sympatheti-
ctlIv with stocks but did not display
much rccuperative power when the stocks
rallied. Total sales 4.4GoUo. United
States new SIS coupon declined IS ana
q s. advanced
Total sales Of stock were 10000 shares.
including 15.g20 Atchis0n. SO so do. pre-
fcrrod. 1920 central Pacific. 4.l9O Ches-
apeakc and Ohio, 1880 Denver and no
Grande. $40 do preferred. 3lGD Illinois
Ccutral. 1900 Nashville, $500 Manhat-
tan. 1880 Metropolitan street railway,
l3 $50 Reading first preferred, f. Mis-
souri, Pacific $50 missouri Kansas ana
trail. 5000 Northern Pacific. 1880 do.
preferred. 9T1O Ontario and Western. TO-
600 Reading 1920 Rock Island. 1870 /
Union Pacific. $500 ST. Paul. 81 30 /
Southern Pacific. 1920 Southern railway.
1900 do. preferred. 1000 Texas and Pa-
Cifc I'D g3O Union Pacific preferred. 10000 /
Tobacco. N O-o Bay State Gas. 4l12D /
Federal Steel 1900 do. preferred, l6H-l /
People. Gas n. I21 Consolidated Gas. % !
40 Brooklyn Transit. $500 Sugar. 2-GtJ /
Te1nessee Coal and Iron. 6.'so Leather |
preferred. 5g21 United States Rubber /
300 Western Union
MONEY AND ENCHANGE-N Money on /
cali hrmer a. 4isH3 per cent. last loan |
az 2ia per cent. prime mercantile paper |
lir03i4 per cent SteI ing exchange easy. |
with actual business il bankers bills at /
- S5it 04 SOLO for demand and 81 S}a U /
4 Sn5 for sixty days posted rates 50 Sfi. /
f4 sflr. commercial bills 81 SOL. Silver /
certificates Iqi 0GOis. bar silver Iqlt. /
Mexican dollars A. Government bonds /
Irregular. state bonds irregular. railroad /