Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-12-13
STOCKS FEVERlSH.
PRICES, HOWEVER, NOT WITHOUT
SUPPORT ANY TINE.
MONEY GOES As LOW As \ PER CENT.
Traders Turn TO Bull Side, and Mark
Up Shares to Neighborhood OF
Monday NIGHTS Leve1-May wheat
Lower-Provisions Higher.

NEW YORK, December 12-The stock
market displayed a feverish tone, as a
consequence of the violent shake-down
of yesterday. There was some belated
liquidation, but prices were not without
support at any time, and where breaches
were made in values the character Of the
buying at the decline made 1t look as
though the manipulation for e. fall were
for the purpose of taking on stocks.
There was n notable volume Of commits
sion-house buying, which Indicated that
outsiders had been attracted by the lower
level OF prices.
There were points In the Industrial list
which displayed notable resistance all
day. and during the latter part Of the
trading some positive strength.
Some Of the sharp declines in the rail-
road list, notably in the Changers, were
attributed to a shifting Of holdings from
that group into some of the Industrials.
The Changers touched lower prices than
IN the Generalization of yesterday, and
they were practically the only stocks In
the list 10 do So That there IL still a
large and aggressive bear party in the
market was evident Their tactics were
moderately successful IN the morning,
especially in the case Of Tennessee Coal
and Metropolitan Street Railway. which
were forced down 81 and 62, respectively
Money at no time ruled over per
cent, and in the afternoon was offered
down 10 per cent Traders generally
turned TO the bull side and marked up
stocks to the neighborhood OF last nights
level. and in some instances materially
above 1t.
Prominent Specialties showed recoveries
from the low point, ranging from 70
over points Sugar. Brooklyn Rapid
Transit. and Tobacco were especially no
table In the rally. In the railway list
the trunk lines, the Paciics. and one or
two of the Coalers rose from ~ TO 2, and
Southern Railway, preferred, rallied H2.
After touching 1882. Sugar suddenly
broke points, 20 near the lowest, and
very much unsettled the whole list Re
actions were confined TO fractions out
side of the Tobacco stocks, Brooklyn
Rapid Transit. and few other Indus
trials. The closing was thus made r.
regular and with mixed changes. the
action OF the directors OF the Federal
Steel Company in regard 10 the dividend
Of per cent on preferred stock, thus
making the full per cent. for the year
and clearing the way for promised OWL
dends on the common next year, was not
announced until the close Of business, but
il explained the relative firmness of the
Iron and Steel stocks
The bond market was less active than
stocks. and prices were comparatively
steady. Total sales, par value, 81 .225,0oo
United States new As advanced Y, old
As Il, and the Us r. In the bid price
The total sales OF stocks to-day were
CSC. 200 shares. including Atchison, 1880;
do, preferred 1870; Chesapeake and
Ohio. 20,575; Chicago. Burlington and
Quincy, 1880; Louisville and Nashville,
1920; Manhattan. 1850; metropolitan
Street Railway, s,92l; New York Central
7051; Northern Pacific. $50; Pennsylva-
MIA, sos; Reading, lst preferred, 100;
st. Paul. 1850; Southern Pacific. has;
Southern Railway preferred, 500; Union
Pacific, 37750: American Steel and Wire,
l40l0; American Tobacco. 1890; Anacon-
da $500; Brooklyn Rapid Transit, G7,7o7:
Colorado Fuel and Iron, 6.500; Continental
Tobacco. 12.SS5; Federal Steel iS25; Peo-
pies Gas. 7,7J0; Sugar. T72O; Tennessee
Coal and Iron. 1850; Leather 1880.
MONEY AND EXCHANGE.
Money on call steady at 4liS per cent. !;
last loan at 4; ruling rate. 6 per cent. (;
prime mercantile paper, l2a6 per cent.
Sterling exchange firm, with actual bust
ness In bankers bills at 1886 7-SQSiS7 for
demand and at SidG$LSl Is for sixty
days: posted rates, SLS2HAS21-2 and
Sl7 10; commercial bills $LS0q$i.so II.
Silver certificates. 59U6O; bar silver,
80 Is; Mexican dollars, II IA.
Government bonds strong; State bonds
inactive; railroad bonds steady.