Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-12-22
REVIEW R. } OF MARKETS.
FINANCIAL AND COMMERCIAL
Stocks, Hon5y, Exchange, Bonds, Grain,
Cotton, Provisions, Etc.

8 New York, Dec. 21.-The stock mar
: ket had to carry another heavy load of
liquidation to-day. Trading was OH Il
q smaller scale thnn on any previous
day this week, but the tone was fever
81 sh and unsettled throughout, and
s fluctuations were constant. The prin-
cipal selling pressure came from Lon
don, where the money difficulty was
aggravated by renewed apprehenSions
over the safety OF the British columns
In South Africa and the advance in the
official discount rate of the Bank of
France Much Importance seemed to
be attached to the latter action as an
obstacle to the requirement Of gold by
the Bank of England. London's pres
sure upon Paris was reflected in
jump of four centimes in the Sterling
Exchange rate at Paris. Forced liqui-
dation on the London Exchange was
on a large scale and overlooked to the
New York market. The international
stocks were acutely depressed ut the
opening and were not able to make any
substantial Roadway NIL day. In tile
last hour there was renewed selling of
this group, which forced down prices
all through the railroad list from 11s to
s points, the extreme decline being in
Northwestern.
The leading specialties were also al
the low point of the day in the Inst
hour. The bears were active in the
late drive and circulated stories of n
panic in London on account Of fresh
disaster to the British arms in South
Africa.
Buying to cover short contracts
caused some sharp rallies, but they
were not well held, and the closing was
exceedingly unsettled at substantial
losses, compared with last nights close
"A notable feature of the weakness, as
was the case yesterday, was the easy
rate ruling at the time for call money.
After lending at per cent. In the
morning, loans were being made at s
to per cent. at the time when prices
were dropping most rapidly. The weak
ness was not SO much confined to the
speculative industrlals as was the case
Yesterday, and If liquidation was being
forced by discrimination as to COL
'aterals. the standard railroad stocks
were thrown over to obtain funds for
the protection OF holdings Of indus
trials. Prices In n number Of import
ant 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 rs yesterday, but
the dealings We're very large and the
fluctuations were very wide. It was
vigorously supported in the early deal
ings. but apparently only for the pur-
pose OF making market for further
liquidation.
Support was forthcoming from time
TO time during the day, which checked
the downward tendency. Sugar was
very erratlc ut a level below last night,
and fell to within X of Mondays low
level. Metropolitan and Manhattan
were acutely depressed, the former
falling s points. The New York Gas
stocks were strong during the early
dealings on rumors OF u settlement of
the gas war, but they weakened be-
fore the close. Except for the con-
tlnued strict discrimination against
some classes of stocks as collateral,
easy conditions were maintained in the
money market. y 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 begins
TO centre on what the effect of the
weeks events in Wall street will be on
the Saturday bank statement.
Bonds weakened in sympathy with
stocks. Total sales. par value. s2,6A0OOo
United States SIS and the old As nd
Tanced Ac. in the bid price. The total
sales of stocks were 721,l 100 shares.
New York, Dec. 21.-Standard OH, A 50
@4.54