The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-12-15
STORMY WALL STREET DAY
OK PRICES FAIL AND RISE,
norm VIOLESTLr.

Bad Weather for Cntboats-Keene Credited
with Having Won Good-sized Fortune
ShrinkREc of st.3.OOO,OOO in Paper
values In s3 Stocks since december q.
Conflicting news influences governed the
stock market yesterday and there was extra
ordinary irreRularity IN prices. The volume Of
business was again enormous and In some in
stances prices touched the lowest points
reached since the market began to break
week ago last Monday. There was q sharp
rally in the afternoon though the improve
nents were not fully maintained at the
close. Among the bulish influences was
the announcement from Washington that
the Secretary OF the Treasury would anticipate
the interest due on Jan. l on Government
bonds. which will release about 5000. 900. OF
which 40 per cent. will probably be disbursed
In this city. Another bullish piece OF news
which, however. was generally expected. WINS
that tho Governors OF the Bank OF Englan did
not advance the banks minimum rate OF dis
count which IL now u per cent. In addition
there were unconnrmed rumors from London
that Gen. Butler had inflicted crushing
blow upon the Beers aud had raised the siege
Of Ladysmith. This rumor helped turn a semi
panicky stock market In London into a booming
market with the so-called kafflr or South Afri-
can mining shares leadng In the advances. Asa
result London entered the New York market
sayy eSysT G fS wiki II R0sg ss
Tor London account were said to DO fully 10000
nm nrss account Sr on WeGne day SOU '0f '"o
Financial trouble reGnorted in Boston and
benrsh ' inSencss case dsspa,ehes s said
that the Bank Of England raised its buying
price for eagles TO 70s, Ord. and was giving
e1sromSly strong with demand bills
4. day on sales o. bills against Inst
hs gur ar London in with shS
eXchsnCe quoted Al the close OF business at
sis7H. ds4.s7,. The. opinion was expressed
that there would be no gold shipped this week
after all. though they would not predict "a to
es sn SS one banker i1 said that gold Shipment
might be arranged for rs late AS tomorrow
morning rs the steamship that would take the
A part Of the demand for sterling. the past
few days has come from, corporations which
ments to remit abroad number Of such cor
porations have been buyers buyer St exchange In
export movement OF gold is concerned New
York has big stores Of the metal on hand. The
Clearing House vaults contain more than
credit OF the Clearing House banks.
The gold has been carefully sorted and is
what il known az clean gold" that is. not
abraded and could be shipped without further
handiing In the United States Sub Treasury
there is about sl65. 900 In gold coin, the
vaults being crowded with the metal which has
been steadily will ny up since prosperous limos
began. So much has been received that the
gold has overfowed into the minor coin vaults.
A. the United States Assay ONCE. which al
Joins the Sub-Treasury there Is between 500
100000 AID s8O.OOOUOO more gold on hand In
the form Of bars.
More gold from Canada was received In this
fax received from it's Montreal Office 100000
IN gold coin. The Bank OF British North
America expects to receive $4,000 A large
Wall Streetbank was reported to have received
100000 in gold certificates from one Of It's
Chicago correspondents Yesterday morning.
That relief to the local money market might
soon come from the banks ~ the interior was
Indicated hy an advance IN Chicago exchange
on this city to 30 cents premium on $1,000.
Money on call ruled Mt " per cent on the
New York Stock Exchange yesterday. with the
exceptional loans at and per cent. closing
at the lowest rate, Time money was quoted ut
8per cent. for all periods. Various rumors
days regarding the gains and losses OF indi-
ydual operators in stocks as result OF the
big smash in prices. IL II admitted
that James L. keene. who has been the leader
Of the bear party. must have made a good sized
fortune. which Is not made up Of paper profits
either. for Mr. keene Is an old hand at the
game OF SPECULATION in Wall Street and Is quite
willing TO take profits when he sees them.
An flea Of the big shrinkage that has taken
pace III the market valuations OF the securities
deals in on the Stock Exchange i. afforded by
the following table. showing the high prices for
. and the low prices yesterday after
ten days ~ n bear market. together with tho
apparent decline in values on the basis OF the
total outstanding shares: