Daily press. [volume] (Newport News, Va.) 1896-current, 1899-12-05
MARKET
REPORTS
NEW YORK STOCK NJ >T:KEr.

NEW YORK, Dee. 4-The weakness
Of stocks today WIS 4 response 10 the
world wide Ightness in money. A
marked effect was a:so pro lrreG by the
Supreme Court decision in The. Aldy-
stone Pipe case. INVOLVING On lnfringa-
fnent OF the antitrust law ~ an M
dustrial combinati III. Strenuous eff
efforts We're made by Professional oD-
orators TO belrttle lie force OF tl;s de-
tHslon on the glount. INA; lh- party TO
the case was a c1rJiculArly fragrant il
Illustration of Il trust formation ana that
the points in the case could apply to
the general run If industrial ccrr.bina-
lions, but the acute effect produced on
he securities of these combinat ionS
argued an apprehension on lie part Of
holders that their v.t'Ia hvAu.'i be i'm
paired by the decision. Stocks of the
indust1ialS fell :tnyWher,. from, or. to
over three points and showed put q
feeble rallSlng pow II. In fact there
seemed to be no raSii.enG| NJ any ;1on;
IN the market There VAS some early
strength in Eurling. ~. some If the irun
and steel stocks. .'acii. Mail Grnllt
Northern and Lins..i preferred but
with the downward course begun rhc:c
was practically no INTERRUPTION ant. tht,
closing was the lowest, tn. majority Of
active stocks showing net losses of Z
point or over. Sugar was c1nspi"uousy
weak and is over three points lower On
The day.
NDllSIItlA1-S AFFECTED.
There Was som. short selling among
the inuustl1ials on ,ha strength Of tn.
supreme Court ,leclSl on. but that profit
taking was large Tor h. account vas
very manifest Com thu marked weak
ness in stocks which nave recently adj
vanced. notably the trunk lines, The
trunk lines. the p.c;t,-s anil sugar
Inc apprehension oyer money affairs
turned principal u foreign ccnta:s,
especially 70 Berlin alG I;.lIs. The adj
vance In the sterling rate at those
points 70 Very near the COLA export lev
81 marked the influence Of the Bank o.
Englands measures to attract funds.
ne sterling exchange rat: in Ne"
York also advanced. out the money
rate in Paris ana Berlin remained
quiet. contrary to the fears OF the spec
ulative world The sta sl:lt',,a Of spec
ulation at those cent arS probably had
I" do with this result IN New York.
on the contrary. tbs. money rate stiff
fenced as the day progre ssc1 and fur
RED 70 II per cent. at which point il
closed. No loans were ma,la below six
Irr cent. Some OF the borrow >rs
counting upon an easy money market
following Saturdays strong bank
statement. delayed Supplying he i
needs until late in the DAY and 50 I'd
-: the rate. The strength of S;,tu.-
Gay ; bank statement IS sacn 70 b.
i;iceahle to Il single Institution rs vas
re case last week. Moreover, sub
treasury operations. from which the
whole Of last weeks c:l sh rec operation
Was derived, show Il gam by The sub
treasury at the expense OK The banks
since last Friday OF :;19:4 OO) G Ger
i1gs OF bonds for REDEEM .,tl1a a 7he
nh-treasury have falitn to SO low a
point as to afford only 4 slight offse,
10 the absorption Of funds in n. taking
VI. OF the surplus revenues. TN the
Other hand, interior nxchunu 5 1.,t>t 4
slightly in favor Of Me- York The
sLc2u.e'tive public, howey II. has aban-
toned hope of any easier money conc: Y
lions until after the end Of the y-ar
Iotai sales OF stocks coda. We're $751;.
7CJ.