Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-12-22

the bottom
The bank bought $1,000 pounds Of
gold in bars and e122.o0O in French
coin.
NEW YORK, December 21.-Money
on cali steady at S@7 per cent; last
loan 4; ruling rate 6.
Prime mercantile 51a@6 per cent
Sterling exchange easier with actu-
al business in bankers bills at 81 S71s
@A for demand and at 81 S0A@B for
go days; posted rates 81 812@4 so and
81 SS@1a; commercial bills 81 S0A0
n.
Silver certificates 5SA@59hc.
Bar silver SOC.
Mexican dollars 4775c.
Government bonds strong.
State bonds weak.
Railroad bonds weak
Stocks-The stock market had to
carry another heavy load of liquida-
ton. Trading was on a smaller scale
than on any previous day this week,
but the tone was feverish and unsettled
throughout and fluctuations were con-
slant. The principal selling pressure
came from London, where the money
difficulty was aggravated by renewed
apprehensions over the safety Of the
D,;f ;cI, IN friOo ond
the advance in the official discount rate
of the Bank OF France. Much import
ance seemed to be attached to the lat
ter action as an obstacle to the re-
quirement of gold by the Bank of Eng
land. London's pressure upon Paris
was reflected in jump of four CEN
times in the sterling exchange rate at
Paris. Forced liquidation on the Lon
don exchange was on a large scale and
overlooked to the New York market.
The internationally listed stocks were
acutely depressed at the opening and
were not able to make any substantial
Roadway all day. In the last hour
there was renewed selling of this group
which forced down prices all through
the railroad list from " to points, the
extreme decline being in Northwestern.
The leading specialties were also at the
low point of the day in the last hour.
The bears were active in the late drive
and circulated stories of panic in
South Africa. Buying to cover short
contracts caused some sharp rallies
but they were not well held, and the
closing was exceedingly unsettled at
substantial losses compared with last
nights close. A notable feature of the
weakness, as was the case yesterday,
was the easy rate ruling at the time for
call money. After landing at per
cent. in the morning. loans were being
made at to 8 per cent. at the time
when prices were dropping most rapid
ly. The weakness was not so much
confined to the speculative industrials
as was the case yesterday, and if liqui-
dation was being forced by discrimina-
ton as to collaterals. the standard
railroad stocks were thrown over to
obtain funds for the protection of hold
ings of industrials.
Prices in number of important
stocks approached or fell below the low
point of Monday, and this fact seemed
to incline holders to renewed selling.
Brooklyn Transit was by no means so
conspicuous IS yesterday. but the deal
ings were very large and the fuctua-
tons very wide. 1t was vigorously
supported in the early dealings, but ap-
parently only for the purpose of max
ing a market for further liquidation.
Support was forthcoming from time to
time during the day, which checked the
downward tendency. Sugar was very
cratic at a level below last night and
fell to within Il Of Mondays low level.
Metropolitan and Manhattan were
acutely depressed, the former falling s
points. The New York gas stocks were
strong during the early dealings on
rumors of settlement of the gas war,
but they weakened before the close.
Except for the continued strict dis
elimination against some classes of
stocks as collateral, easy conditions
were maintained in the money market
A slight decline in the sterling ex-
change rate might be due to engage
ments of gold for shipment on Satur-
day, which it is now taken for granted
will be large. Interest begins to CEN
tire on what the effect of the weeks
events in Wall street will be on the
Saturday bank statement.
Bonds weakened in sympathy with
stocks. Total sales par value $780,
900.
United States IS and the old 4 adj
vanced u in the bid price.
A1cnison ......... .-...-.................... Z