The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-12-13
FEYERISH TONE In
STOCK EXCHANGE
A Consequence of the Big
Shake Down.
DECLINE IN RAILROADS
Traders Generally Turned to the Bull
Side and Marked Up Stocks
Very Close to the Pre-
vious Nights Level

New York December 12.-The stock mar
ket displayed a feverish tone as eonse-
ouence of the shakedown of yesterday.
Although there was some belated Mquida-
ton. prices were not without support at
any time, and where breaches were made in
the character of the buying at the decline
made it look as though the manipulation
for a fall was for the purpose of taking
on stocks.
There was a notable volume OF commits
sion house buying, but outsiders kept clear
There were points in the industrials which
displayed notable resistance adj day, and
during the latter part of the trading some
positive strength.
some OF the sharp declines in the rail-
roads, notably in the grangers, were at
trfbuted to a shifting of holdings from that
group into some of the industrials. The
grangers touched lower prices than in the
decentralization of yesterday and they were
practically the only stocks in the list to
dc so. That there is still a large and ag-
gressve bear party in the market was evil
dent. Their tactics were moderately sue
cessful in the morning and practically an
the case of Tennessee Coal and Metro
politan Street Railway, which were forced
down 512 and 5Ti respectively.
Money at no time ruled over per cent,
and in the afternoon was offered down to
4 per cent The impression was abroad
tnat some of the very large individual OPP
orators mad become possessed of a liberal
supply of funds and We're taking on stocks.
Traders generally turned to the bull side
and marked up stocks ITO the neiSh'borhood
of last nights level, and in some instances
materially above it.
Prominent Specialties showed recovery,
and from the low point ranging from
to over 5 points Sugar, Brooklyn Rapid
Transit and the Tobacco stocks were espe
cially notable in the rally. In the railroad
list the trunk lines, the Pacifes and one
or two of The coalers rose from 11s to 2,
and Southern Railway preferred rallied
Oh. After touching 1891 Sugar suddenly
broke points to near the lowest and very
much unsettled the whole list Reactions
were confined to fractions outside of To-
bacco and Brooklyn Rapid Transit and "a
few other industrals. The closing was
thus made irregular and with mixed net
changes.
The action of the directors of the Federal
Steel company in declaring the dividend of
per cent. on preferred stock, thus max
Ing the full per cent. for the year, was
not announced until the close of business,
hut it explained The relative frmness of
the Iron and Steel stocks. Sentiment as
to the future of the stock market is still
continuance of the factors which have re-
stircted the money supply and led to tine
forced liquidation.
The bond market was less active than
stocks and prices were comparatively
steady. Total sales par value, 81, 225, 900.
United States new As advanced "; old As,
u, and the SIS Is in the bid price,
New York, December 12.-Money on call
steady at 4qS per cent. last loan, 4; ruling
rte, 6.
Prime mercantile paper, 51a@6 per cent.
Sterling exchange, firm, with actual bust
ness in bankers bills at $4.S6S9$4.S7 for de-
mand and $4S1q$4.S1B for sixty days
Posted rates, $4S2a$4S2h and $tS7h.
Commercial bills, $iS0@S4 SO1a.
Silver certificates, 5000.
Bar silver, 59B.
Mexican dollars, Az.
Government bonds strong.
State bonds inactive.
Railroad bonds steady.
(By Private Wire to Talbot & Palmer.)