The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-12-21
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News-Mining Stocks.
Metal Quotations-Wool Prices and
Movements - Grain and Pro-
duce-Review of Trade.

New York, Dec. .e0.-The stock market
gave demonstration of improved tone
and nerve in the spirit with which it ac-
repted slump of 1874 points in Brooklyn
Transit, accompanied by sympathetic
. weakness in other stocks allied to it. 1t
g cannot be said that this violent decline
Was viewed with Indifference, for it ef-
,ectually checked the advancing tendency
sf the general market and worked a re-
action extending to over points in
number of standard railroad stocks and
from 4 to points in some of the indus
trials. Thanks to the earlier rise in the
market, however. and the rally following
the slump, net losses are in nearly al,
eases small and some substantial gains
are shown by important stocks. The
break in Brooklyn Transit was attributed
to the forced liquidation of a large Inside
account, concerning which many unfa-
rorab1e rumors OF Monday were received
In full force and exaggerated by the
bears with view to breaking the mar
ket At this time last year after a nota-
BILE advance. the stock sold al about 70
and by April of this year it touched the
high level at ISL without ever having paid
a dividend. In the decentralization which
followed since the death of Ex-Governor
Flower. the organized efforts to support
and save the market converged upon this
stock and kept it above par. There was
liquidation yet to be accomplished to-day
and it pursued its course but was not
allowed to unsettle and demoraize the
whole market as was the case on Monday.
The tone of the market during the early
hours was fairly normal, except that
trading was active and fluctuations rather
wide. Prices had advanced and received
Il wi wit thc
announcement of the increase in New
York CentraFs dividend rate, that stock
rising to 1907. Extreme declines from the
high level in other than Brooklyn Transit
were Sugar, ~; Federal Steel, 6; Peo-
pies Gas, Manhattan and Tennessee Coal,
about 5. and Tobacco and Metropolitan. 4.
The weakness in railroad stocks, which
showed the largest declines, could be
traced in part to the same sources as
those which were responsible for the
break in Brooklyn Transit. The declines
extended to points only in Rock Island.
Atchison preferred. Burlington, St. Paul
and Louisville. In Brooklyn Transit,
Sugar. Federal Steel. Tennessee Coal and
Peoples Gas the recovery was A to
points and it amounted to from l to
points all through the list. There have
been single weeks when the total trans
actions in these stocks exceeded several
fold their total capital issue. During the
day when Brooklyn Transit was showing
most acute weakness the rate for call
money was per cent and there was a
plentiful supply. The rate at no time
rose above per cent and in the late
dealings fell to 2 per cent, or yesterdays
level. During the day an engagement of
gold for shipment to London was an
nounced and rumors were current OF fur
ther heavy engagements to go out on
Saturday. The announcement and the
prospec. seemed to have no effect on thu
local money market. The anomaly of Il
pSr cent money rate and gold being al
lowed TO go out while stocks are forced
to liquidation at heavy sacrifices war
rants no other conclusion than that the
security offered for loans TO carry stocks
in some instances is unsatisfactory Such
Is known to be the case. Yesterday
measures Of protection and relief were
still in force to-day. The market closed
strong It the rally at mixed net changes
The bond market was active and show
ed later reactions from the early
strength. making the tone Irregular.
Total sales. par value, s., 100, 900 T. S.
Ss. old As and SIS advanced y in the bid