The San Francisco call., 1899-12-23
EASTERN MARKETS.
NesU York Stock Marker.

NEW YORK. Dec. 22.-The stock market had
20 undergo further liquidation to-day. Prices
yielded without any very active resistance
but there were no signs OF panic and the
liquidation was conducted IN an orderly man
ner. The principal causes Of weakness were
evidently not local and seemed. 20 be largely
due 20 the condition OF affairs IN Boston. The
closing OF the Globe National Bank there was
the cause OF widespread uneasiness and
brought large offerings on the New York mar
ket OF the favorite Boston stocks. Sugar was
the most conspicuous example. as is shown by
SIS extreme decline Of points. This stock was
under very heavy pressure all day on rumors
OF a continuation Of the trade war as well as
on the forced selling for Boston account. Bur
lington. Federal Steel and Atchson preferred
We're also sold from Boston. London was a
large seller of stocks In this market and the
depression there exercised "a large sentimental
influence. The rise in the private discount rate
and the Tears or trouble AT the settlement are
now imminent causes of apprehension. Some
OF the fayorite International stocks We're acute
~ depressed from Tine 10 time, notably New
York Central. 81. Paul. Baltimore and Ohio
preferred Missouri Pacific. Reading first pre-
ferrec and Denver and Rio Grnnde preferred
The bears were energetic. operators all day
and supplemented their efforts by the circu-
lnuon ~ some eKtraNaEant ruuors regarding
The financial condition OF various houses and
properties. The effect on some Of the trust
companies was 70 induce large calling OF loans
traordinary demands that might be made upon
them. The rumor- -mongerinE OF the bears was
cussion by some of those who were the great
efT Fufierers of legal measures directed against
tho offenders. Daring the last hour the bears
were very large buyers 20 cover short con-
tracts and the eject on prices was seen in
reooNeries running all the way from ] 10 8
points 4n the principal railroads and indus
trials As result net losses were reduced
within a range % points except In a few
incOuspicuOus stocks. which had not moved
previously during the week. A number OF
stocks. including those which have suffered
most severely during the week are slightly
above last night level The rate for money
nurried st onc time 20 per ceat. but ruled
for the most part az CT below. Estimates OF
to-morrows hank statement are all at sea
oN ing 80 the extraordinary conditions thar
have prevailed. The banks have gained on the
regular interior movement. but the ertraor-
dinrry demand from Boston has Offset that
% that the net losses ia the interior move
sncl; is about sl.3o0. 000 on sub-treasury oper-
Hticns they have gained about S. 100000. The
amount 81 gold exports which will figure in
the statement including last Saturdey's ship
rrenfs. is about 5000 600. This Would Indicate
p net lors IN cash on all accounts - about
81 oe0. 600. No one vcntured an estimate OF
what the loan changes may be.
Bonds We're weak IN sympathy with stocks
fhc speculative issues showing some sharp de-
cines. Total sales par value. s2.5so. .O00
United States new q advanced a the old
ss and Is = IN the bid price.