The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-12-12

New York, Dec ia perusal Of the net
changes in prices of stocks as result OF
the DAYS trading will give out q lam i
conception or the Yioisne sIad d,,rino
The five hours session. During the morn
ing hours the drastic lquidation WIloii
was forced upon The market caused sr -
CARS in the values OF securities anu lne
market took on an appearance OF oetiior-
alization The wide variations IN pIices
between sales, running as high as poliits
were evidence OF the urgent character
Of the selling. At the low point the ScaiS
of prices presented decidedly raSSsu
appearance. the declines III the LONG iisc
of sDecialties ranging as compared Win
Saturdays close, all the way from 70 Il
points the latter in tennessee Soat-
Notwithstanding the days violent Iluc-
tuations. the market closed. with few net
losses exceeding points. The liquidation
seemed to have been very tnorouSh anu
the great improvement in the tone OF the
market during the latter part OF the DAY
reflected the benefit TO the health OF the
speculative situation.
The influences at work were so broad
and well defined that they are soon stat
ed. One leading cause of the weakness
was the large decline made last Week;
which wiped out or nearly exhausted
calling for additional margins forced large
blocks of stocks on the market. Many
were forced TO liquidate. and there was
large contingent whose hopes Oh an Up
ward turn in prices hao become eS-
hausted, and who threw over their mold
incs i'm disgust determined TO, wait more
favorable opportunity
The news of the heavy reverse to the
British arms in South Africa helped 70
unsettle this market. LONDON Dought
stocks here in the first hour but this. was
simply to cover, sales made earsser IN
London at a better figure. The very NO
lence of the selling movement worked ITS
own remedy and the day was not hair
over when evidences began to appear
that urgent speculative accounts had
been thoroughly shaken out and the loan
contraction pushed TO a sufficient extent
IL afford material relief. The bears were
steady buyers for the rest of the day and
there was a sufficient contingent of bar
gain hunters on hand to afford assist
ance toward the recovery in prices.
The character Of the interests winch
were most acutely distressed was shown
by conspicuous weakness In the hIgnly
speculative industrials. Besides the de-
We're losses of TO points in members
of the metal group. Sugar. Tobacco and
the New York specialties. The net loss of
Tennessee Coal < Iron for the day was
Is points. In the railroads only few
cases occurred where declines reached
over 2 points, New York Central, Penn
sylvania. a number of the coalers, Louis
vile & Nashville and Southern Pacific
being conspicuous examples. Kansas &
Texas was down nearly points
The vigorous and determined support in
Sugar was the turning point in the day s
market. This specially was run UP in this
late dealings "a points above the. low
point luil HOl OillN
the early decline but of the quarterly
dividend which was deducted from the
price today. There was a subsequent de-
cline of ~ points and the stock closed
list closed for the most part firm at the
recovery. Except for thu belief afforded
by the days liquidation the signs of tight
ness in the money markets of the world
were unabated.
The weakness in bonds was much less
general and acute than in stocks. Total
sol z-nt1 cd a "a.
old Is and IS advanced I. in the bid price.