The times. [volume] (Richmond, Va.) 1890-1903, 1899-01-17
THE MARKET
WAS WEAKER.
Transactions Were Heavy But Prices
Broke Sharply at Close,
BONDS SUFFERED IN SYMPATHY
Although the Tone was Good Until
Near the CloSc-LOndOn q Heavy
Seller. Which Helped to Bring
About the Final Reaction.

NEW YORK. Jan. i6.--The week opened
with transactions again reaching the mil
lion marx. resulting IN irregular net
changes. losses prevailing. London. IL
was estimated. sold altogether 1880
shares here. nearly half OF that amount
in tho first quarter or an hour fhere
WAS no news market-wiSe or any inpor-
tancc. Standard stocks were IN heavy de-
mand I'm the forenoon. all the grangers
making new records for high prices. The
evidence Of support 10 leading stocks was
followed by bursts OF strength elsewhere
after a peIiod OF hesitancy in the early
dealings. There was a rise IN Federal
Steel on the continued good demand FOR
iron products but the advantage gained
was not fully retained. Among other spe-
cialties, were renewed interest was ois-
PLAYED were Metropolitan, Consolidated
Gas Leather preferred. and American
Steel. while Air Brake made sensational
advance Of II points The Pacific stocks
were weak all day The heavy London
selling was Of assistance 10 many board
room traders in bringing about reac-
ton IN the final dealings, although early
81 the day, when prices were offered
down. there was an increase Of buying
instead Of selling orders brought into the
market. II was IN the last hall hour
that practically all Of the earlier gains
IN the market were lost. and I'm a number
OF shares the prices were carried sharply
below Saturdays close, especially Union
Pacific Northern Pacific Louisville and
Nashville. Manhattan, Southern preferred,
Omaha and Kansas and Texas preferred.
Previously the market has been rather
quiet on declines, hut the greatest activity
to-day was toward the close. when prices
ran or. Among the cOalers Reading first
and second preferred suffered about
point Heavy liouidationi Lake Erie
and Western preferred dropped the price !
OF that stock points
The bond market maintained a very
good tone during the greater part Of the |
With the stock speculation in the l1te |
selling Total sales. 81 $4,000. United |
states new Is registered advanced Is, ana I
do. coupon. the 3.s. As registered and the
Be coupon . iR the bid price.
The total sales Of stocks were 100000 /
shares. including - 925 Atchison. 81 so !
do preferred l2.265 Central Pacific. ' 80
chesapeake and Ohio; 1920 Chicago, Bur
lington quincy. 1920 Chicago and East
Illinois: 77O5 Erie first preferred. 1920
louisville and Nashville. 22O2O Manhat-
tan; 1890 Metropolitan; 1920 Reading
first preferred 1880 Missouri Pacihc'
7 $40 New York Central. 1920 Northern
Pacific: 10, 500 do. preferred. $50 Read
ing: ~. 90 Rock Island; $50 Union Pa
cfnc: a. so ST. Paul: 1870 Southern "a /
clfc: 65 800 Southern railway; 80" 40
preferred; tf.220 Union Pacific preferred
4 40 American Tobacco: 26 100 Bay State
gas. ITO zoe Federal Steel. 1920 do pre-
ferred: 1920 Peoples Gas, G,736 colorado
Fuel and rroD: 1880 Brooklyn Transit
- 20 Lead. ITO 1Hcluc Mail. HtV oldlu- |
lrd Rome and Irvine. 2S62O Sugar, $500
Tennessee Coal and Iron; 1890 Leather
preferred.
MONEY AND EXCHANGE Money on
,aU steadier az 2fhG3 per cent. last loan /
al on per cent: prime mercantile paper, !
.69I1 per cent. Sterling exchange steady.
WITH actual business in bankers bills az
d sfa.6iS5 FOR demand and al 81 $40 |
sou FOR sixty days; posted rates, 81 S5i2
~ So. commercial bills S4Sli2. silver
gevlcan dollars. Az. Government bonds
trong: state bonds inactive; railroad