Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-12-23
MORE LIQUIDATION.
STOCK MARKET WEAK, BUT WITH
NO SIGN or PANIC.
BOSTON SITUATION TIE CAUSE
Large offerings of Hub Fayorites-
London Also n Large Selfer-Wbent
Weak Early. hut Sfeadied Later
Provisions Higher.

NEW YORK. December . THE stock
market had 70 undergo further liquida-
ton to-day. Prices yielded without any
very active resistance. but there were no
signs Of panic. and the liquidation was
conducted I'm an orderly manner. The
principal causes Of weakness were evil
IDENTIFY not local. and seemed 10 be largely
due to the condition Of affairs in Boston
The closing Of the Globe National Bank
there was the cause Of widespread un-
easiness. and brought large offerings on
the New York market OF the favorite Bos-
ton stocks. Sugar was the most cOnspicu-
ous example. as Is shown by its extreme
decline of points. This stock was under
very heavy pressure all day. on rumOfs
Of a continuance Of the trade war, as
well as on the forced selling for boston
account Burlington. Federal Steel ana
Atchis0n. preferred, were also sold from
Boston
this market and the depression there ok
ercised large sentimental influence. The
rise I'm the private discount rate, and the
fears Of trouble az the settlement now
imminent are cause< Of apprehension.
Some of the favOrite international stocks
were acutoly depressed from time 20 time.
notably New York Central. ST. Paul, Bal
timore and Ohio. Missouri Pacific. Read
Ing. list preferred and Denver and Rio
Grande preferred.
Tine bears were energetic operators OH
day During the last hour they were
very large buyers 10 cover short con-
tracts, aud the effect ON prices was seen
in recOVpries running all The way from J
TO points I'm the principal Railroads and
Industrials. As result net losses were
reduced within % range OF points. except
n few inconspicuous stocks. which had
not moved previously during the week.
..Na.. ..H NHa... 0..H af..NI
have suffered most severely during the
week rose slightly above last nights
level.
MONEY RATE OR BELOW
The rate for money furried al one time
to per cent. bnt ruled for the most part
az per cent or below.
Estimates Of to-morrow's bank state
ment ere at sea owing 10 the eXtraordi-
nary conditions that have prevailed. The
banks have banned on the regular interior
movement. but the extraordinary demand
from Boston has Offset that. so that the
net loss ON the interior movement is about
3l3000l0 on ~ub-Treasury operations
they have gained about 81 0e0t0p. The
amount Of gold exports which Will figure
I'm the statement including last Satur-
/ days shipments g. about 80o00. This
would indicate net loss I'm cash on all
accounts OF about 81 900 NO. No one ven
lures 20 estimate what the loan changes
| may be-
Bonds were weak in sympathy with
stocks. the speculative issues showing
some sharp declines. Total sales. par
value 81 $1,000 United states new as
advanced II, the old as and SIS II, I'm the
The total sales Of stocks to-day were
| 7'O10 shares. including AtchisOu. u $50:
Atchison. preferred 1880; Baltimore and
/ Ohio. 1000, Chesapeake and Ohio. 9.5l5;
Chicago Great Western $500 Chicago.
Burlington and quincy. fip350; Chicago,
Rock Island and Pacific - N5; Louisville
and Nashville, ll.3jl. Manhattan l. $50;
Metropolitan Street Railway. l2.i15. Mis-
souri, Pacific. $40: New York Central
/ 900. Norfolk and Western GOO. North
ferred. $3.50: Ontario and Western. $500;
| PENNSYLVANIA. 900: Reading. let prefer
| red 1850. ST. Paul. 1850; Southern Pa
| cifc. $3.50: Union Pacific 3il5: Union
| Lake Erie $500 American Steel and
| Wire % IOJ: American Tobacco A. 40:
Anaconda. 705, Brooklyn Rapid Transit.
/ 1O.SS5. Continental Tobacco. S.30l: do. pre-
ferred. 5037; Federal Steel. 2).9iO: Leather.
| 1850. do. preferred. 300: Western Union.
| J.i57; North American, $500: Sugar. $3.50.
MONEY AND EXCHANGE.
Money on call steady at f08 per cent. {:
| last loan az per cent: ruling rate 8 per
cent; prime mercantile paper 5l406 per
! cent.
Sterling exchange hrmer. with actual
business I'm bankers bills at SlSA for
demand and AZ SLSOAasiS07s for sixty
days; posted rates. SLSli40SlS2 and SlSSD
| $isNa. commercial bills. HWu4S0is.
Silver certificates. 5sikN59ia. Bar silver
| 5Sia Mexican dollars. IA
Government bonds strong. State bonds
weak. Railroad bonds weak
BANK CLEARINGS.
The total bank clearings I'm the United
States Tor the week Were 81 222. 1924. am
! increase Of % per cent; exclusive of New
York. 1914 G0,2l2 am increase Of II per
cent.
Now York siocls Qnotntions.