Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-12-14
REVIEW OF MARKETS
FINANCIAL AND. COMMERCIAL
Stocks, Ron6y, Exchange, Bonds, Grain,
G Cotton, Provisions, Etc.

New York, Dec. 13.-The market
yielded to Generalization during the
latter part of to-day, and stocks were
thrown over Wholesale on the down
grade. Prices went below the low point
of Monday all around and the market
closed In a highly. excited condition.
The few rallies that were effected were
due to the hasty taking OF profits by
the pears, which were sufficiently at
tractiye on the day to induce the clos
ing out Of short accounts by the profess
sional operators who persistently sold
the market at the higher level. The
market made some Roadway against
the depression during the. early deal
dngs, and at one time had very largely
overcome the opening losses which
were reflections from the foreign ex-
changes. The weakness abroad was
due to the growing seriousness OF the
situation of the British campaign in
South Africa. London was very
heavy seller In the New York market,
but IT'S offerings seemed pretty we'll
apsorped. me Changers rose notably
ABOVE last nights level and Sugar and
Brooklyn Rapid Transit also made con-
spicuous progress towards recovery
from the recent depression. But during
the latter part Of the day the operators
IN stocks shut their eyes to everything
put the gloomy apprehensions over the
future.
The existing condition of the money
market was at no time stringent and
IN the late dealings the rate for call
money ran down to 3M per cent.
Inc announcement of the deternina-
lion or the Pennsylvania railroad to
distribute stock par to the extent OF 10
per cent. or the capital came as a total
surprise, and under ordinary circum-
stances would have been a determining
Inctor In rallying the market It lifted
& fennsylVania 8 points and New York
central 2eA, and caused q Temporary
iuif IN the spasm OF liquidation. But
the pause was only momentary. Equally
without effect was the extra dividend
declared on Northern Pacific common.
bringing the rate for the year up to 3
per cent. The persistent liquidation in
sugar gradually spread throughout the
list.
In the final dealings Sugar went 12
points below the highest. Tennessee
Ierred. sk; Great Northern preferred,
Metropolitan. G; American Tobacco,
bts. and Lackawanna, 6. Although
losses In the railroads are not SO wide,
as q rule, the liquidation in them was
very heavy. The declines reach over 3
points In ST.. Paul. Louisville and
number of Coalers, and exceed points
In nm extended list.
The conditions We're apparently much
easier in the money market. but senti-
ment regarding the outlook was ex-
ceedingly feverish and unsettled. and
the street was full OF contradictory
runnors regarding developments The
violent jump in Sterling Exchange
rates. both here and at other points,
made it sufficiently evident that Lon
don was the real seat of trouble, and
apprehension was expressed Of future
difficulties there.
Bonds went OFF sharply in the late
dealings, but declines were relatively
small compared with those in stocks.
Total sales. par value. $1,795, 600.
United States SIS advanced Nc. In the
bid price. The total sales OF stocks to.
day were 1.071 GOO shares.
4.G5@4.G6