Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-12-15
REVIEW OF MARKETS 4! Il
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange. Bonds, Grain.
Cotton, Provisions, Etc.

New York, Dec. Interpretation of
a further stress of liquidation In the
stock market were not disappointing
this morning. Heavy offerings were
thrown upon the market form the out
set and the bears were very bold and
determined IN orrering prices down.
But IL was obvious that there was not
SO acute pressure of necessity upon
the market to realize as was the case
yesterday, and several deyelopments
over night helped to encourage a sup
port of prices. The market, therefore
did not at any time take on the ex-
treme generalization OF yesterday, as
was feared, and about midway of the
session the bears had relinQuished their
position. The conflict OF speculative
interests was fierce one before the
issue was decided, and prices moved
potn ways at once in the opening
ton.
Inc determined support in Sugar was
notice to the bears from the outset
that they were not to have things all
their own way, and though they wiped
out Sugars opening rise in short order
ana made "a. heavy inroads at other
points in the Industrial llst, and even
forced ST. Paul a half point below yes
,terdny's low level for the year. the
nbsorptfve power of the steady buying
demand proved too much for the re-
actionists. subsequent attacks were
made upon the Iron and Steel stocks
The New York City specialists, and
In fact. upon every stock where any
Information could be had OF n heavy
account ON the long side, with the
hope OF wipinE out margins and
forcing foundations. The success
achieved must have been very mod
crate, Judging from the almost COM
plctG rccoveries. which were caused in
nearly all cases when the shorts began
TO cover. 1t was noticeable, on the
other hand, that the buying demand
died away at the higher level Of prices
achieved This encouraged renewed
efforts by the bears up to the period
of the lost reaction. when they re-
Trained from attacking the market,
and the closing was firm, near the top
level. at substantial net gains all
through the list.
The outlook in the London money
market continued to offer the keynote
to the speculative situation.
The Treasury Departments offer TO
forcgo the rebate hitherto demanded
before anticipating the payment Of
Jonurry first interest, had sentl-
MGR, effect In strengthening The
mas
Tfea came the buoyant outburst In
tho English market, on the widely dis
scm'nated rumor of the relief of
Ladysmith and an alleged capture OF
the Beers. This served to brighten
the feeling In London, and accustomed
heavy demand for Americans
Orders were cabled to New York long
after The usual hours. and London's
total purchases for the day were run
up To 5000 shares
Sterling exchange responded with a
drop CT over half cent in the pound.
Additional gold was received here
1,xy tl,n 1,,., ,nI~o - -
banks The relief thus afforded to
fears of gold shipments was the dom
tnnnt factor In the late strength of the
market.
Bonds rallied from early weakness
In sympathy With stocks. Total sales
par value, s2,0i5.0 900.
IT, S. bonds unchanged in bid quota
lions.
The total sales of stocks to-day
were 1.033.O0 shares.
New York, Dec. 1l.-standard Oil.
5.55G5.Go.