The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-12-20
Further Provision For Relief in
the Money Market-Good
Rally in Wall Street
MARKET EXCITED
AND FEVERISH
Boston Prices Hold Well in Face
of a FaiIure-GeneraI Hard
ening in Money Shares

Tbs stock market continued highly
nervous yesterday, and movements of
prices. in New York were wide, but as
a whole, there was considerable i'm
proyement in the temper and under
tone and the disposition of prices clear
ly was to harden.
The governments action for the re-
lief of the money market, in making
its deposits in banks available, coupled
with the New York clearing house
committees provision against trouble,
gave more evidence of the strong in
fuenees at work to prevent panic. The
clearing house provided $10000,000 more
yesterday morning for loaning on the
stock exchange in case of necessity.
Rates f1uctuated nervously, at one
time 80 per cent, and a few minutes
later. 6 per cent. The stock exchange
clearing house settlement was accom-
plished without trouble, there were nc
more. failures, and the firm which sus-
pended yesterday, expects to pay in full
and to resume business shortly. The
range of fluctuations in leading stocks
were wide, but no such sharp declines
as We're common yesterday were seen
today, and there was considerable cash
investment buying however. RalliesEere
substantial and as the day progressed
the better feeling grew steadily. The
average of prices of 20 leading stocks
was So higher than at the close yester-
day.. a decidedly substantial rally.
Boston showed sustained steadiness
on.ia smaller volume of business and
in the face of the suspension of a
brokerage firm some of the stocks
of Which were sold under the rule"
This firm is supposed to have carried
a large line of United States Mining
stock for officials of the company, and
the difficulty of obtaining accommoda-
tons under the circumstances forced
the suspension. The banks continue
to do all in their power to tide over
the unpleasant situation and the
course of our market is in evidence of
the praiseworthy manner in which
banks and brokers are working to-
gether.
There was a general hardening of
prices in the mining group, with some
fair buying for investment in other di-
rections. Parrot was up 2, to "a; Mon
tana fell 8, to $50 thence rising to 2631a
Utah was off 2 to q, but rallied in full;
Santa Fe strengthened Il, to 5; Cen
tennial II, to 16; Wolverine /, 80; Bing-
ham lost x, to 8; Cochiti was Il bet
ter, at 10A; United States Oil fell 2,
TO %, thence rallying to 241h; Central
Oil lost "A more, to liz; New England
Gas and Coke lost III more, to 1872,
rallying to 1715; SIS were / lower, at II;
Arnold rallied II, to Az; Butte held at
49, Calumet was 10 lower at 10; Do
minion Coal lost IL, to 4015, recovering
to 413s; Osceola was up u, at 65; and
Tamarack lower, at IT'S. West End
Street Railway was up 2, at 80; New
Haven l, at POS; Bell Telephone lost
5, to $50, rallying to 1886.
The New York stock market opened
irregular. American Steel and Wire
"a, Atchison preferred 5S55, Burlington
11S. Continental Tobacco 27, Federal
Steel Az, Leather u, Leather pre-
ferred So, Louisville and Nashville 76A.
Manhattan 92@74, Missouri Pacific 800
391a,a-New York Central 125h@126,
Brooklyn Transit 73@7419, Northern Pa
cific sou, Peoples Gas 941a, Rock ISL
and 104, Sugar 1873 St Paul 117se.
Southern preferred 511A, Tennessee
Coal and Iron ", Tobacco 81, Union
Pacific 691a. The first quotations on the
stock exchange today showed violent
speculative conflict. The activity of
the market was at furiously boiling
point, and immense buying orders were
distributed with view to the support
of prices. The opening showed some
very wide gains in consequence ex-
tending from j to points in a num-
Der of important specialties, including
Tennessee Coal Sugar, Leather pre-
ferred; Continental Tobacco, and Met