The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-12-23
THE MARKETS.
Wall Street Reviaw.

New York, Dec. 22-.The stock market
had to undergo further liquidation today.
Prices yielded without any very active re-
sistance, but there were no signs of panic
and the liquidation was conducted in an
orderly manner. The principal causes Of
weakness were evidently not local and
seemed to be largely due to the condition
of affairs In Boston. The closing Of the
Globe National bank there was the cause
OF widespread uneasiness and brought
large offerings on the most conspicuous
example, as shown by its extreme de-
cline of seven points. This stock was
under very heavy pressure all day on
rumors of a continuation of the trade
war, as well as on the forced selling TOR
Boston account. Burlington. FEDERAL
Steel and AtChison preferred were also
sofa from Boston. Lordon was q large
seller of stocks in this market and the
depression there exercised large senti-
mental influence. The rise In the private
discount rate and the fears of trouble
at the settlement now imminent are
causes Of apprehension. Some of the
favorite international stocks were acutey
depressed from time to time notably New
York Central. st. Paul, Baltimore and
Ohio preferred, Missouri Pacific, Reading
first preferred and Denver and Rio
Grandc preferred. The bears were encr-
getic operators all day and supplemented
their efforts by the circulation of some
oxtravagant rumors regarding the finan-
cial condition of various houses and
properties. The effect on some of the
trust companies was to induce large call
ing OF loans as measure of precaution
against any extraordinary demands that
might be made upon them. The rumor
mongering of the bears was so fagrant
IN some cases as to cause the discus
sion by some of those who were the
greatest sufferers of legal measures dl
rccted against the offenders During the
last hour the bears were very large buy
ers to cover short contracts and the
ehect on prices was seen In recovertes
running all the way from / to points
in the principal railroads and industrials.
AS result net losses were reduced with
in range of 3 points, except in a few
inconspicuous stocks, which had not
moved previously during the week. A
number OF stocks, including those which
have suffered most severely during the
week rose slightly above last nights $
level. The rate for money flurried at one
time to per cent, but ruled for the
most part at 6 per cent. or below ESti-
mates of tomorrow's bank statement are
ut sea owing to the extraordinary condi-
tions that have prevailed The banks
have gained on the regular interior move
mont, but the extraordinary demand from
Boston has offset that so that the net
loss on the interior movement is about
$l3O0,0OO. On sub-treasuTy operations
they have gained about $4,000 The
amount of gold exports which will figure
in the statement, including last Satur-
days shipments. Is about $4,000 600. This
would Indicate net loss i'm cash on all
accounts of about S1OO0,OOO No one ven
lures an estimate of what the loan
changes may be. Total sales 100. 700
shares.
Bonds were weak in sympathy with
stocks, the speculative issues showing
some sharp declines. Total sales par
value, S2,590,OO IT, s. new As advanced
p, the old As and IS a in the bid price.
The following quotations are furnished
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