The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-12-23
STOCKS AND BONDS.

New York. Dec 22-The stock market
had to undergo further liquidation 10
day. Prices yielded without any very ac-
tive resistance. but there were no signs
OF panic and the liquidation was conduct
cd 80 an orderly manner.
The principal causes OF weakness were
evidently not local and seemed 20 be large
~ due 70 the condition Of affairs IN Bos-
son. The closing OF the Globe Nauorfsl
Bank there was the cause Of widespread
uneaE ness and brought large offerings on
the New York market OF the favorite Bos-
ton stocks. Sugar was the most conspir>
uous example, es is shown by It's extreme
decline OF 7 points. This stock was I'M
der very heavy pressure all day on rum
ors 81 a continue ton OF the trade war, az
well as on the forced selling for Boston
account. Burlington Federal Steel and
Atchiaon preferred were also sold from
Boston. London was a large seller OF
stocks IN tslis market and the depression
there exercised "a large sentimental infiu-
ence. The rise in the private discount
rate and the fears Of trouble at the set
tlemeHt now imminent are causes Of APP
prehension. Some Of the favorite inter.
national stocks were acutely depressed
from time TO time notably New York
Central, ST. Paul. Baltimore and Ohio pre-
ferred, Missouri Pacific Reading first pre-
ferred and Denver and Rio Grande pre-
ferred.
The bears were energetic operators OIL
day. During the last hour the bears
were very large buyers TO cover short con-
tracts and the effect on prices was seen
In recoveries running all the way from \
to points In the principal railroads ana
Industrials. As a result net losses were
reduced within range of points, ex-
cept IN a few inconspicuous stocks, which
had not moved previously during the
week. A number of stocks, including
those which have suffered most severely
during the week rose slightly above last
nights level The rate for money fur
ried at one time to s per cent, but ruled
for the most part at per cent or below.
Estimates Of to-morrow's bank statement
are all at sea, owing to the extraordinary
conditions that have prevailed. The banks
have gained on the regular interior moVe~
ment but the extraordinary demand from
Boston has Offset that, so that the net
loss on the interior movement Is about
100000 On sub-treasury operations they
have gained about SO 100000 The amount
of gold exports which will figure in the
statement; including last Saturdays ship
ments, Is. about $3009,000 This would in
dictate a net loss in cash on all accounts
of about 1000. 900. No one ventures to es-
innate OF what the loan changes may be.
Bonds were weak. In sympathy with
stocks, the speculative issues showing
some sharp declines. Total sales par
value, 81. $4,000.
United States new As advanced Y. the
old rs and 5s 4 In the bid price. The TO-
tai sales OF stocks to-day were 10000. in
Guiding Atchison, II. $3.50; DO preferred A,
$780, Baltimore a. Ohio, 1000; Chesapeake
and Ohio. 9,515; Chicago Great Western.
6.530; Chicago. Burlington and Quincy 40,
800; Rock Island 1885; Louisville and
Nashville, 1885, Manhattan, $3.50; Metro
politan. 12,775; Missouri Pacific $40; New
York Central. $780, Norfolk and West
ern, 600: Northern Pacific, II go; do pre-
ferred, $3.50: Ontario and Western, $500;
Pennsylvania. $3.50; Reading first prefer
red. 1850; ST. Paul. 30.560: Southern Pa.
cific, Al, 5s2; Union Pacific. S4155; do pre-
ferred, 1895; Wheeling end Lake Erie,
$3.50; American Steel and Wire. 22.sO;
American Tobacco. 43.4iO; Anaconda, 7.075;
Brooklyn Rapid Transit. 70,SS5; Continent
tai Tobacco, 1901; do preferred. 5,037; Fed
erai Steel. 2O.940; Tennessee Coal and
Iron $500; Leather, 1850; do preferred,
$50; Western Union, 5457; North Ameri-
can. J05y. Sugar. ~ SO