The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-12-12
The WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News-Mining Stocks.
Metal Quotations-Wool Prices and
Novements-Grain and Pro-
duce-R.view of Trade.

New York, Dec. 11.-A perusal of the
net changes in the prices of stocks as a
result of the days trading will give but
a faint conception of the violent vicissi-
tudes through which the market passed
during the five hours session. During
the morning hours the drastic liquidation
which was forced upon the market caused
great gaps in the values of securities and
the market took on an appearance of de-
moraliZation. The wide variations of
prices between sales, running as high as
three points, were evidence of the urgent
character of the selling
AT the low point the scale of prices
presented decidedly ragged appearance,
the declines in the long list of specialties
ranging. as compared with Saturdays
close, all the way from 3 to q points, the
latter in Tennessee Coal. Notwithstand-
ing the days violent fluctuations, the
market closed with few net losses OK
ceeding two points. The liquidation
seemed to have been very thorough and
the great improvement in the tone of the
market during the latter part of the day
reflected the benefit to the health of the
speculative situation
The influences at work We're SO broad
and well defined that they are soon
stated. One leading cause of the weak
ness was the large decline made last
week, which wiped out. or nearly ok
hausted, margins on speculative account,
and the calling for additional margins
forced large blocks of stocks on the mar
ket. Many were forced to liquidate and
there was large contingent whose hopes
of an upward turn in prices had become
exhausted and who threw over their holdA
ings in disgust, determined to wait a more
favorable opportunity.
The news of the heavy reverse to the
;ol, to, A NJ, -,
unsettle this market. London bought
stocks here in the first hour. but this was
simply to cover sales made earlier in
London at better figure. The very vio-
lcnce of the selling movement worked its
own remedy and the day was not half
over when evidences began to appear
that urgent speculative accounts had
been thoroughly shaken out and the loan
contraction pushed to a sufficient extent
to avoid material relief. The bears were
steady buyers for the rest of the day
and there was sufficient contingent of
bargain hunters on hand to afford as
sistance toward the recovery in prices
The character of the interests which
were most acutely distressed was shown
by conspicuous weakness in the highly
speculative industrials. Besides the de-
cline of q points in Tennessee Coal there
were losses of to points in members
of the metal group Sugar Tobacco and
the New York SpeclaltieS. The net loss
of Tennessee Coal and Iron for the day
was 10 points.
In the railroads only a few cases oc-
CURED whore declines reached more than
2 points, New York Central Pennsylva-
mia. number of the coalers. Louisville &
Nashville and Southern Pacific being con-
spicuous examples. Kansas & Texas was
down nearly. 4 points. The vigorous and
determined support in Sugar was the
turning point in the days market This
speciality was run up in the late dealings
"a points above the low point, scoring
full recovery, not only of the early de-
cline but of the quarterly dividend, which
was deducted from the price to-day
There was subsequent decline of Ia,
points and the stock closed IL points
higher than Saturday.
The general list closed for the most
part firm at the recovery.
Except for the relief afforded by the
days liquidation the signs of tightness
in the money markets of the world were
undated.
The weakness in bonds was much less
general and acute than in stocks Total
sales. par value, s1,s90.00O.
U. S. old As and SIS advanced Il per
cent. in the bid price.