The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-12-19
sTOCKs Am poNDs


New York. Dec. 1S-The stock market
yielded TO panic to-day under the severe
strhgency OF money and the distrust en-
schdered concerning all classes of secure
ties on the exchange. The industrials were
the seVerest sufferers, and were the real
cehtefs OF the disturbance. but the efforts
To project holdings in them precipitated
violent liquidation In other classes Of Sc
euritles The Intervening Sunday afford
ed some monetary check to Saturdays IL
quotation, as was expected, so that the
opening declines in sympathy with London
were IN large part recovered and the mar
ket seemed comparatively quiet and with
out sensation,
The announcement of the failure of
trust company and firm OF brokers prom
incut on the exchange caused renewed
weakness and there were calls for addi-
tlonal margins by commission houses A
decision by The clearing house banks 10
renew old loans at per cent. and to avoid
as far as possible excessive rates for new
loans quoted the market again and caus-
ed some recovery.
In the afternoon severe stringency de-
veloped again In the money market. rates
Tor call loans bounding up rapidly TO 125
per cent, which was the maxim officlally
recorded. Unofficial reports were made or
loans at lS6 per cent
The market quickly took on panic con-
ditions and stocks were thrown over en-
tirely without regard to prices. Metropoll-
tan and Tobacco led with losses over %
points. and large number of industriais
followed with to 10 points break High
grade railroad stock declines at the ex-
treme low level ranged from 10 points.
including the grangers trunk lines, inter-
nationals, Southerns and transcontinentale
In the last half hour, by concerted agree
ment OF the clearing house banks $40 OO0,-
900 was offered on the exchange, which
FFl 10 he q
lent recoveries of from / to 10 points In
the prices of stocks. All outside influences
We're swallowed up in the acuteness of the
local situation.
seml-speculative bonds were or from
TO points Dealings we're not on an ex-
traordinary scale.
Total sales par value $3350.O00
The sales OF stocks were ,6SO5O0 shares.
including Atchlson preferred 70,640: Atch-
inson common, 16450; Baltimore and Ohio.
$3.50; Chesapeake and Ohio, 1870; Chi
cago Great Western. l0635; Burlington,
1880; Rock Island. 2l,15O: Delaware and
Hudson, 800; Louisville and Nashville.
2472O; Manhattan, S9,470; Metropolitan,
$3.50, Missouri Pacific, $3.50; New Jersey
Central, 7,0l0 New York Central 1O125;
Norfolk and Western, 1855; Northern Pa
clnc $3.50; Northern Pacific preferred
1880; Ontario and Western 10,100; Penn
sylvania 1890; Reading, $500; Reading
htot pitieiItuf lcJoOvf fNedulHR SECOND pre-
ferred, 1000: 81. Louis and Southwestern
preferred 1850; ST. Paul, A. $50; Southern
Pacific, ,667; Southern Railway prefer
red. 1880; Texas Pacific, 5000; Union Pa
cihc, $3.50; Union Pacific preferred, "a $50;
Wabash preferred, 5000; Steel Hoop, 6,2l0;
Steel and Wire, %, $50; American Tobacco,
81, $50; Anaconda. 6,d30: Brooklyn Rapid
Transit, 124,625; Colorado Fuel and Iron.
$780, Continental Tobacco; 1850; Cont
mental Tobacco preferred 12,770; Federal
Steel, 53675; Federal Steel preferred, 0,73s;
General Electric, $3.50; Glucose Sugar,
$685. North American, 1880; Pacific Mail,
$780, Gas. $3.50; Pressed Steel Car 5000:
Sugar l01, 225; Tennessee Coal and Iron,
1920; Leather 22,276; Leather preferred,
10 400