The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-12-22
PAGES 9 TO 10.

sterling exchange rate at Paris. Forced
liquidation on the London Exchange was
on a large scale, and overlooked to the
New York market.
The International stocks were acutely
depressed at the opening. and we're not
able to make any substantial Roadway All
gay. In the last hour there was renew
ed selling of this group, which forced down
prices all through the railroad list. from 4
TO points, the extreme decline being in
Northwestern.
The leading speciatles were also az the
low point OF the day in the last hour. The
pears We're active in the late drive and
circulated stories OF a panic in London on
account of fresh disaster 10 the British
arms In South Africa.
Buying TO cover short contracts caused
some sharp rallies, but they we're not well
held, and the closing was exceedingly IN
settled at substantial losses compared
with last nights close notable fea-
ture OF the weakness as was the case yes
terday, was the easy rate ruling at the
time for call money. After leading at Z
per cent in the morning loans we're be-
ing made at to 3 per cent, at the time
when prices We're dropping most rapidly.
The weakness was not SO much confined
to the speculative industrlais as was the
case yesterday, and II liquidation was be-
ing forced by discrimination as 90 collat-
erals, the standard railroad stocks were
thrown over to obtain funds for the pro-
lection or holdings OF lndustrials. Prices
IN number of important stocks approach
ed or fell below the low point of Monday.
ana this fact seemed to incline holders
TO renewed selling. Brooklyn TRANSIT was
by no means so conspicuous as yesterday.
but the dealings were very large. and the
fluctuations were very wide. 1t was Wig
orousiy supported IN the early dealings
but apparently only for the purpose of
making a market for further liquidation.
support was forthcoming from time
90 time during the day, which checked the
downward tendency Sugar was very err
ratio at level below last night and fell
to within u OF Mondays low level.
Metropolitan and Manhattan were acute-
~ depressed, the former falling s points.
The New York Cos stocks were strong
during the early dealings on rumors of a
settlement OF the gas war. but they weak
oned before the close. Except for the con-
unued strict discrimination against some
classes of stocks as collateral, easy con-
diuons we're maintained In the money
market A slight decline in the sterling
exchange rate might be due to engage
ments OF gold for shipment on Saturday,
which It Is now taken for granted will be-
large. Interest begins to center on what
the effect of the weeks events on Wall
street win be on the Saturday bank states
ment II
Bonds weakened IN sympathy with
stocks. Total sales. par value, $500 900.
United States 3's and the old As advance
ed u In the BID price.
The total sales of stocks were 72llOc
shares, including Atchison. 10,7OO do pre-
ferred, 33,i55; Baltimore and Ohio 7.7sT:
Chesapeake and Ohio. 10,s4s; Burlington,
$3.50; Rock Island. 1885, Louisville and
Nashville, l0,4S5; Manhattan, 1772f; Met
ropolitan, 1S775; Norfolk and Western g.
500 Pennsylvania, II ,2S0 Northern Pacific,
4.150; Ontario and Western, 5.7i9; 81. Paul,
26,725 Southern Pacific, 36.650; Southern
Railway preferred. 1881; Union Pacific,
O,a5Oi do preferred, i3.77O: American Steel
and Wire, 26.650; American Tobacco a.
g50 Federal Steel, 1866: Peoples Gas, 49,
s75 Sugar, otO50; Brooklyn Transit, 1Os,-
g2I