Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-12-22
STOCK MARKET WEAK
1T HAS TO CARRY ANOTHER LOAD
OF LIQUIDATION.
TONE PEYERISH AND UNSETTLED.
Close Mt Substantial Losses as Com
pared with Wednesday Might
Wheat Corn. md Oats Higher
Provisions Also I'D.


market had 10 carry another heavy load
Of liquidation to-day. Trading was on a
smaller scale than on any previous day
this week. but the tone was feverish and
unsettled throughout and fluctuations
were constant The principal selling pres
sure came from London. whore the money
difficulty was aggravated by renewed APP
prehensions over the safety of the British
columns in South Africa and the advance
On the official discount rate Of the Bank
Of France Much Importance seemed TO be
attached 10 the latter action as an OBJ
stacle 10 the requirement OF gold by the
Bank Of En- E d. London pressure upon
Paris was = ted in jump OF cen
times ia IN = s.ering exchange rate AT
Paris. Forced liquidation on the Lonuoh
exchange was ON q large scale ana over
flowed 10 the New York market
The international stocks were acutely
depressed at the opening, and We're not
able TO make any substantial ncadWay
all day I'm the last hour there was re-
newed selling OF those groups, Which
forced down prices AN through the fali-
road list from y 20 8 points the extreme
decline being i'm Northwestern. The lead
ing SpeCialtics were also az the loW
point of the day in the last hour. The
bears were active IN the late drive ana
circulated stories OF panic IN Lonuon
on account of fresh disaster 10 the British
arms i'm south Africa. Buying to cover
short contracts caused some sharp Iai-
lies but they were not well held, ana the
closing was exceedingly unsettled. az sub
stantial losses compared with last night
close. ....-
A notable feature Of the weakness, as
was the case yesterday, was the easy
rate ruling at the time Tor can money
After leading at Z per cent in the morn
ing loans were being made at 10 per
cent. at the time when prices were drop
ping most rapidly Tho weakness was
not SO much confined 20 the speculative
Iudusfrials as was the case yesterday,
and If liquidation was being forced by
discrimination as 10 collaterals, the stand
ard railroad stocks Were thrown over 10
obtain funds for the protection OF hold-
ings OF fndustrials.
Prices I'm "a number of important stocks
approached or fell below the low point OF
Monday, and this fact seemed 10 incline
holders to renewed selling. Brooklyn
Transit was by no means so conspicuous
as yesterday. but the dealings were very
large, and the fluctuations We're very
wide. IT was vigorously supported IN lhe
early dealings, but apparently only Tor
the purpose Of making market for tUr-
Their liquidation support was iOrtncom-
ing from time TO time during the day,
which checked the downward tendency.
Sugar was very crratc az a. level below
last night, and fell TO within Is OF Mon
days low level Metropolitan and Man
haitian were acutely depressed, the Tor
lner falling points. The New York Gas
stocks were strong during tho early deal
ings on rumoTs OF settlement OF the Sts
war; but they weakened before the close.
Except for the continued strict dlscrini-
nation against some classes Of stocks as
collateral. easy conditions were maintain
ed in the money market \ slight de-
cline I'm the sterling exchange rate might
be due 10 enga gements Of gold for snip
r.rnH nm ga II b
FOR granted, Will be large. Interest begins
20 centre on what the effect OF the week $
events In Wall street will be on the
Saturday bank statement.
BOND MARKET WEAK
Bonds weakened in sympathy with
stocks. Total sales par value, sAOieW'.
United States 3s and the old As advanced
= I'm the bid price.
The total sales Of stocks were 721 100
shares. including Atchison. 1910; do.
preferred, SSlS5; Baltimore and ono
77GT: Chesapeake and Ohio, lO6lo;
Chicago. Burlington and Quincy 3D.
$40. Rock Island, IL 800, Louisville and
Nashville TO- S5: Manhattan, IlN; Metro
politan street Railway, 1910; Norfolk and
Western. $3.50: Pennsylvania, u,ZSl; North
ern Pacific. 2l1J0; ontario and Western.
5.79: ST. Paul, 2j72j; Southern PACING.
$3.50; Southern Railway, preferred, 52l;
Union Pacific 30.3J0, do. preferred. l3nDi
Wheeling and Lake Erie. 1900 DO, "a
preferred. 602); American steel ana Wlle;
1850; American Tobacco 1850; Federal
Steel. 15.CJ5; Peoples Gas. 1875. Sugar,
81 $50; Brooklyn Rapid Transit, le.5zl.
MONEY AND EXCHANGE.
Money on call steady at 9a5 per cent;
last loan az 4; ruling rate. g, prime mer-
camille paper. 5lsQ6 per cent.
Sterling exchange easier. with actual
business I'm bankers bills at &6lit NsAS1L
for demand and $iS0#nSlsTs for sixty
DAYS: posted rates. AAizNSAs2 and S4SSp
s4 $50: commercial bills. Si604 HSLs14i.
silver certificates 5SasdMiz; bar silver.
80. Mexican dollars. Az.
Government bonds strong; State bonds
weak. railroad bonds weak.
- ~ ctoot- nuot,ffon.