The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-12-22
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News-Mining Stocks.
Mstal Quotaeions-Wool Prices and
Movements - Grain and Pro-
duce-Review of Trads.

New York, Dec. 21.-The stock market
had to carry another heavy load of liqui-
dation 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 con-
slant The principal swing pressure came
from London where the money difficulty
was aggravated by renewed apprehen-
sion of the safety over the British col
umn in South Africa and the advance of
the discount rate of the Bank of France.
Much Importance seemed to be attached
to the latter's action as an obstacle to
the requirement of gold by the Bank of
England. London's pressure upon Paris
was reflected in a jump of 4 centimes to
sterling exchange rate at Paris. Forced
liquidation on the London exchange was
on a large scale and overlooked to the
New York market. In the last hour there
was renewed selling. which forced down
prices all through the railroad list from
1is to points, the extreme decline being
in Northwestern. The leading specialties
were also at the low point of the day in
the last hour. The bears were active in
the late drive and circulated stories OF
a panic in London on account of fresh
disaster to the British arms in South
Africa. Buying to cover contracts caused
some sharp rallies. but they were not
well held ana the closing was exceedingly
unsettled at substantial losses compared
with last nights close. A notable fea-
ture of the weakness. as was the yester-
day, was the easy rate ruling at the time
for call money, after lending at per cent
in the morning. Loans were being made
at to per cent at the time when prices
were dropping most rapidly. The weak
ness was not SO much confined to the
yesterday, and if liquidation was being
forced by discrimination as to the col
laterals the standard railroad stocks were
thrown over to obtain funds for the pro-
lection of holdings Of industrials. Prices
In a number of stocks approached or fell
below the low point of Monday and this
fact seemed to incline holders to renewed
selling. Brooklyn Transit was by no
means so conspicuous as yesterday, but
the dealings were very large and the
fluctuations very wide 1t was vigorously
supported in the early dealings but APP
parently only for the purpose of making
a market for further liquidation. Support
was forthcoming from time to time during
the day which checked the downward
tendency. Sugar was very erratic at a
level below last night and fell to within
Il Of Mondays low level Metropolitan
and Manhattan were acutely depressed.
the former falling points The New
York Gas stocks We're strong during the
early dealings on rumors Of a settlement.
of the gas war, but they weakened before
the close. Except for the continued strict
discrimination against some classes or
stocks as collateral easy conditions were
maintained in the money market. A slight
decline in the sterling exchange rate
might be due to engagements of gold for
shipment on Saturday, which it Is now
taken for granted will be large. Interest
ma In aaJ1f tor xry11a !, nFSp
the weeks events in Wall street will be
on the Saturday bank statement.
Bonds were weak in sympathy with
stocks. Total sales, par value. ST. $40 600
L. S. as and the old As advanced u in the
bid price.