The age-herald., 1899-09-13
LIQUIDATION IN
 THE STOCK MARKET Sentimental Effect Produced by
 Death of Vanderbilt. CALL MONEY MARKED UP Bonds Were Weak in Sympathy With T
Bonds Were Weak in Sympathy With Considerable Selling, and Total
 Sales at Par Value Amount aI# ing to $1,915,ooo

New York, September 12-yalues of se- curities suffered today from a further drastic liquidation of speculative accounts, induced by the contraction of loans by the banks for the purpose of replenishing their depleted reserves.
 Some sentimental effect was produced by the sudden death of Cornelius Vanderbilt but this event, though sudden, was not wholly unexpected, and those properties with which the name is most closely asso- ciated gave evidence of support. Late in the day after loans had either been read justed paid off there were some notable reeoveries in prices. not a few of the rail- road stocks rising above yesterdays level. In the final hour there was a rather urgent demand from the shorts to cover which helped the rally. Some stocks gave the ap- pearance also of a demand from bargain hunters.
 All grades of stocks were thrown upon the market during the day as the rate for call money was marked up by successive stages or loans were called outright. The standard Railroad stocks suffered in equal degree with the industrials as evidenced by the weakness of the Changers and d two-point decline in Pennsylvania on large offerings The bears were watchful for op- portunities all day and were quick to take the market away from sellers. They had their greatest success in Brooklyn Transit which broke to par on the opening tranSac- ton. The most strenuous efforts at support failed to held this stock and 1t fell to 95
 The Flower group showed keen sympathy with the weakness in this stock. People, Gas, Federal Steel and International Pa per dropped from to points below last nights level. with Rock Island leading the van of the Changers. Tennessee Coal open ed 91s points up and fuctuated very fever ishly over a range of points. Colorado Fuel moved i'll sympathy, but otherwise the iron and steel stocks were relatively firm and came up in the final dealings to a level above yesterdays close in several in- stances.
 Sugar was one of the heavy sufferers on the active list Some of the less active stocks to show notable losses were Chioa- go and Eastern Illinois; Consolidated Gas f; Mobile and Ohio; Cleveland, Lorraine and Wheeling, preferred; Minneapolis, St. Paul and Sault Ste. Marie Omaha and Lacka- wanna, in which the declines ranged from to 5l2 Manhattan was weak at one time but rallied strongly on the declaration of the regular quarterly dividend of 1 per cent. The newly listed milling stocks gain ed 1A and 1 respectively.
 Railroads in the southern group, the Pa cifics and Atchison, preferred, showed more resistance to the weakness than the general list and in some cases established net gains before the close. The heavy liquidation of the last two days has un- doubtedy resulted in generally strengthen ing some of the stocks.
 The call loan rate after raising to g per cent. again fell to 6. Reports from Wash ington indicated that the treasury depart- mert was indisposed to offer measures of relief so long as liquidation was not forced beyond purely speculative limits. The for eign exchange rates on London, Berlin and Paris all fell a fraction. but the discounts at the close did not respond with an ad- vance as they are almost certain to do in usual cases.
 New York banks generally marked up the time loan rate today to 6 per cent. though the deffand in that department is not heavy.
 Bonds weak in sympathy with stocks and there was considerable liquida- ton manifested in the speculative issues. Total sales. par value, 4,915, ,000 United States old 4s, coupon declined A in the bid price.
 New York. September 12-Money on call firm at 51a@9 per cent; last loan at 6 per cent.
 Prime mercantile paper, 4A@5 per cent.
 Sterling exchange weak with actual bust ness in bankers bills at $4.S6@4S6A for de- mand, and & .S213@s4 SPA for sixty days.
 Posted rates. $484 and $4. STE.
 Commercial bills, s4S2
 Silver certificates, 59G059Ac.
 Bar silver, 591se.
 Mexican dollars. 47kc.
 Government bonds easy