The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-12-13
ANOTHER DECLINE
But the Market Rallies Before
the CIose-Banking Con-
traStS
THE MONETARY
SITUATION AT PRESENT
Big Losses in High Priced Cop
per Stocks in Boston
News and Notes

The New York stock market went
Monday.
There was a sharp decline in early
dealings, followed by a smart rally.
Tennessee Coal & Iron again fell off, 51a
this. time, with rally of 4, and the other
metal and Industrial issues We're promi-
nemt, Tobacco declining 21z and rallying
S1s. In New York money ruled at Sos
per cent, and was easier. The liquida-
ton in the stock market undoubtedly
has eased the loan market considerably
and over on Wall street they already
are talking of a possibly good bank
statement Saturday of this week. Stocks
maintained the rally well, as they did
Monday, and there was more confidence
in the days gossip, with predictions of
upbuilding, it being asserted freely that
the worst is over. There has been strong
buying of stocks on this break by large
interests and a disposition is manifested
to protect and to support many special
ties.
The New York stock market opened
irregular. American Steel & Wire 391a !;
Atchison 63A; c., B. & O., 12SB; Cont
y u
Leather 15A to 10; Leather preferred II;
Louisville & Nashville S1B; Manhattan
101; Missouri Pacific 44%; New York
Central 1S1; Brooklyn Transit so; Nor
thern Pacific 54a; Peoples Gas 1903;
Rock Island HOY; Sugar 1877; st. Paul
1875; Southern preferred 55%; Tennes-
see Coal & Iron 81; Tobacco 102; Union
Pacific 1885; Union Pacific preferred
1855, The market was remarkably quiet
Qf hn 1N.y .g&I.
Mondays excitement. Changes were re-
stricted within point with the excep-
ton of Sugar, which opened off that
much, but Immediately recovered it.
-Four thousand five hundred shares of
Leather sold at 15A to Is, compared
with 14ss last night. There was a fair
sprinkling of gains, but the majority of
stocks were lower fractionaIly under
the influence of depression in foreign
stock markets.
The bear faction renewed the attack
on Tennessee Coal and Metropolitan
Street Railway Long stock came out
in large amounts as stop-loss orders
were reached and Metropolitan broke
81 and Tennessee Coal 51a. Support was
evident in Leather and some of the steel
issues. New York Air brake sold up 4
points, and Hooking Valley and Linseed
preferred 2A points each. Shortly before
eleven o CLOCK Inere was a general raid
on the specialties. Sugar fell off 2h
Brooklyn Transit and other prominent
stocks 1@11s. The grangers sold lower
than in yesterdays Decentralization. Be
fore eleven O'Clock the market rallied
Tennessee Coal, Sugar and Metropoli-
tan recovered to points.
The coppers were soft again in the
local market yesterday, liquidation
being considerably in evidence, though
not so violent, but progressing slowly
and surely. Montana opened up at las
nights close but declined in few mo.
ments below yesterdays low point, OF
comparatively small sales. The cheaper
coppers were also peddled out.
A. r. Flower says to a representative
of the Boston News Bureau: There /.
nothing in the present situation t.
cause any apprehension. Money is tigh
to be sure, but the present liquidation
in the stock market should greatly re
lieve the stringency. have found NJ
difficulty in borrowing money on the bet
ter grade of industrial stocks. In fact
am bull on industrials."
Although domestic buyers are doinl
very little in making new purchases O.
copper, the market is quoted at lie fol
Lake.
Exports of copper from American
ports last week were quite heavy ant
footed up 3577 tons.
Bache & Co.-After the shake up tn,
market has had, we believe that gooC
strong rally will follow as soon as relic