The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-12-15
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW. YORK STOCK REPORT
Digest OF Exchange News-Mining Stocks.
Metal Quotations-Wool Prices and
Movements - Grain and Pro-
duce-Review OF Trade.

New York, Dec. 14.-Expeetatlons of
further stress of liquidation in the stock
market were not disappointing this morn
ing. Heavy offerings were thrown upon
the market from the outside. and the
brokers were very bold and determined in
offering prices down. But 1t was obvious
that there was not SO acute a pressure of
necessity upon the market to realize as
was the case yesterday, and several de-
yelopments overnight helped to encour-
age support Of prices. The, market
therefore did not at any time take on
the extreme decentralization Of yesterday
as was feared, and about midway at the
session the bears had relinquished their
position, and were willing to roar you
as gently as sucking dove"
The conflict of speculative interests was
fierce one before the issue was decided.
and prices moved both ways at once in
the opening mark.
1t was never long in one direction. The
determined support in sugar was a notice
to the bears from the outset thai they
were not to- have things all their own
way, and, though they wiped out
sugars opening rise in short Or
der and made heavy inroads at
other given points in the industrial list,
and even forced st. Paul half point be-
low Yesterdays low level for the year,
the absorption power of the steady buy
ing demand proved too much for the re-
actionists.
Subsequent attacks were made upon the
iron and steel stocks, the New York city
specialties and in fact upon every stock
where any information could be had of
heavy account on the long side, with this
hope of wiping out margins and forcing
liquidations. The success achieved must
have been very moderate, judging from
the almost complete recoveries which We're
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 ef-
forts by the bears up to the period of last
reaction, when proceeding from attack
ing the market, and the closing was firm
near the top level at substantial net
gains all through the list. The outlook
in the London market continued to offer
the keynote to the speculative situation.
The failure to advance the official rate
of discount by the Bank of England in
itself offered a suggestion of relief from
yesterdays apprehension of gold exports
from here through the belief continued
during the morning that gold would go
out by Saturdays steamers.
The treasury departments offer to fore
go the object hitherto demanded by an
ticlpating the payment of January l in
terest had a sentimental effect in
Strengthening the market. The total
amount Of interest involved is $500, 900
and its availability. 1t is believed would
make the Withdrawal of any gold for ex-
port less felt Orders were cabled to New
York long after the usual hours, and
Itondon's total purchases for the day were
run up to 10000 shares. Sterling exchange
responded with drop of over half cent
Additional gold was received here to-day
by the branches of Canadian banks The
relief thus afforded to fears of gold ship
ments was the dominant factor in the
late strength of the market Bonds ral,
lied from early weakness in sympathy
with stocks. Total sales par value ST.
600. -
United States bonds were unchanged in
bid quotations.