The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-12-12
BEAR CAMPAIGN ON
A Big Break Monday in Industrial
Stocks in the Wall Street
Market.
OVER 10000 SUGAR
SOLD IN 10 MINUTES
Rally in Later DeaIings-Brisk
Fall in Boston SpeCiaIties-
News and Notes

The British defeat in the Transvaal
added the necessary stimulus to bear
lsh energy in the Wall street market
yesterday, and for a time prices
fell so rapidly as to indicate not
only a sharp decline, but a genuine
break
However, the excessive losses were
continued to industrial and other spec
ialties Of recent speculative promi-
nence, Tie declines in the railroad group
being moderate in comparison. Tennes-
see Coal & Iron was the leader with an
extreme drop of 90 to SO IL, from which
it rallied to 80. Sugar lost 4 1-2, but it
recovered 5 IA, or net gain over
Saturdays close allowing for the SO
dividend which is off the stock today.
A l ga drop in c., B. & Q. was fol-
lowed " ga rally, and after the first
hours sharp losses, upbuilding went on
quite steadily. The market, of course,
was feverish after so sharp a drop,
but tho violence of the recessions in
vited proft-taking by shorts and con-
sequent rallies. Money ruled up to IL
per cent at one time, but was not spe-
cially active, this high rate applying
to industrials.
The Iirmness of money, foreign com
plications in the funds market and war
news, with natural anxiety respecting
our own monetary position in view of
the heavy disbursements of next month
and the pause in investment buying,
have unsettled the speculative struc-
ture ana enforced liquidation again has
done its work, as it did last spring,
when the banks shut down on unlimited
loaning on industrial and similar col
lateral.
Boston had decidedly active mar
ket. OF course mining stocks led, and
they were thrown out freely, Parrot
leading in volume of sales. Over 1000
shares of this stock came out in the
morning, price falling to 81 1-2, rail-
lying to "a. Osceola was off 1-2 to 81;
Quincy 3 to 142; Tamarack to 1874;
United States actually rose 1 to 81, fell
back to 81 is, and settled at 80 1-2 in
the afternoon. Utah lost IL to 90 "a;
Wolverine ga to 81; Mohawk held at
16; Michigan lost 1-2 to 1-2; Dominion
Coal fell to 45, rallying ga; United
States oil to SO, rallying in full and ]
better, or to SO; Central Oil lost / to
19 Ia; Centennial / to 10; Cochiti l rs
to II; Bingham IL to II 1-2; Calumet
IS to 40; Butte 10 to so, rallying to
"a IL; Amalgamated ga to 70; Old
11SAtiliiASiA 10 W ISlG my dlB z u
%, rallylng /; Arcadian 4 IA to % "a.
rallying to %, and Montana 10 to 2S5.
New York. Opening professionalism
Steel & Wire IS 1-2; Atchison preferred
63 ga; c., B. & O., 129 IL; Continental
Tobacco 80; Federal Steel, So 1-2; Lea
ther II; Louisville & Nashville 50; Man
haitian 101 Is; Missouri Pacific A ga;
Brooklyn Transit 70 to rs ga; Northern
Pacific "a; Peoples Gas 107 "a: Rock
Island 10 ga; Sugar, ex-dividend, 132
to 1874; st. Paul 121 1-2; Southern pre-
ferred Sc; Tennessee Coal & Iron 100 1-2;
Tobacco 100; Union Pacific As SIS: Union
Pacific preferred rs Ia Sharp liquida-
ton was in evidence in all the prom
tnent industrial stocks at the opening
of the market. Twenty thousand shares
OF Sugar sold at 1873 and then back to
184, ex-dividend of per cent, against
1SS IL at the close Saturday Tobacco
broke seven points and Brooklyn Tran
sit SIS on very heavy offerings The
iron and steel stocks all showed VIC
lent declines, Colorado Fuel leading
with a drop of 6 IL, Tennessee Coal A.
and Steel & Wire 3-S Many of the
prominent railroad stocks and other
specialties showed losses of one to two
points. Further declines were made af-
ter the opening and the market had an
appearance of semi decentralization
Business was in tremendous volume
and prices moved rapidly downwards.
Fluctuations in the specialties were of