The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-12-22
DROP IN COPPER
A Sharp Fall in London-StoCk
Market Less ACtive-PriCes
FIuCtuate lrreguiarIy
GAS WAR CENTRE OF
STOCK MARKET FIGHT
Boston Trading Quiet With Few
FeatureS-VanderbiIt and
Other Railway Earnings

The. was Iessened activity in the
stock market trading yesterday.
London continued unsettled, with
further decline in consols, but the Bank
of England rate of discount was not
advanced as had been expected, re-
manning at 6 per cent. The Bank of
France, however. raised it's rate from
to AZ per cent, and this exerted a
bad influence on the London market
Among the features of the day over
there was further break in spot cop
per of 81 and over, and the metal now
rules Ell under the highest of the year,
back in May, but e12 higher than a
year ago. Prices of SHARES fluctuated
irregularly in the New York market
The industrials were depressed sharply
and the general list responded with nu-
merous signs of weakness.
The decline was confined mainly to
the industrial shares, including many
not usually prominent in the trading
standard stocks showed good rallying
power. Money did not rule above s
per cent, and as low as per cent was
quoted-practically per cent mar
ket.
Volume of Boston trading was small
er than Wednesday, and price changes
Tu1lOlS
further trouble persist in circulation;
but no basis of fact has appeared, and
1t is believed the crisis is passed. and
safely 1t has been a bad shock and
a severe strain, the effects of which
are bound to remain for a long time,
and the remembrancewill make against
any more great booms. at least for a
time.
As. a rule, Thursdays fluctuations
were narrow. There was a somewhat
firmer tone in the higher priced home
specialties and not only in these, but
in iower-priced stocks. a great deal of
investment buying of small lots is seen.
Bell Telephone was up 5, at 345. and
Mergenthaler 5, at 1876. United States
Oil lost 1a, to 2512, and Parrot q, to
35A. Amalgamated ran up 2A to 81,
while Centennial lost x, to 1515, and
Parrot p, to 35A. Amalgamated ran
up "a, to 81, while Centennial lost -,
to 1512, rallying to 1914. Montana
gained 4, to IS; Gold Dredging was off
1. at 2. Chicago and West Michigan
IS were l lower, at 81; North Michigan
5s selling at 49, Boston Elevated
yielded l. to 49,
The New York stock market opened
weak: American Steel and Wire Al,
Atchison preferred 57A, Burlington
11SA, Continental Tobacco 27%, Fed
eral Steel 4419, Leather 1915, Leather
preferred SO, Louisville and Nashville
7512, Manhattan 901@, Missouri Pacific
3S7s, New York Central 1873, Brooklyn
Transit 65 Northern Pacific 81, Peo-
pies Gas 931a, Rock Island 1O3sz, Su-
gar 1241s, st. Paul 115s4, Southern pre-
feFfed 511a, Tennessee Coal and Iron
n, Tobacco S93s, Union Pacific 421s
Union Pacific preferred H. The de-
preston on the London stock exchange
was reflected in Boston at the open
ing, in some sharp declines. The losses
in the internationals were not fully
down to the London parity, but in the
Pacifics and in a number of leading
specialties the losses extended from
to III. Peoples Gas was down 2
Brooklyn Transit after declining q
point, rallied and Sugar fell IL and
rallied point. Pittsburg, c
G. & st. Louis preferred was buoyant
in opposition to the current of prices
with rise of 314 The market imme-
diately hardened after the opening
Considerable progress upward was
made by the principal stocks and New
York Air Brake gained and Pullman
points. Large blocks Of Brooklyn
TRANSIT We're unloaded when 81 IL wa.
reached, eventually breaking it to g. 1-2
Improvements elsewhere ceased. anC
declines from ! to 2 points followed
but the pressure to large extent was
concentrated against Brooklyn Tran.
sit and Sugar. International stocks and
the grangers were foremost in the re.
action in the railroads. Purchases tC