The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1899-12-23
ON " ALL Il. STR E.BT
Money Ruled Much Lower But
Trading D Was Of a Feverish
Nature. +
Those Supporting the Market AS.
sisted by Buyers For In
yestment.
Approximations Somewhat Allayed
by the Action Of Secretary
Gage.

hours Besides the usual thronr of
brokers, clerks and regular frequenter,
4 III the financial district, the elevated
trains, surface cars, and private con.
veyances brought their quota OF curl. :.
osity seekers Of all conditions and both
I sexes. Some had interests at stake and
were On hand to watch news and devel.
opinents, but the majority were pres
ent simply as sightseers. The galleries
Of the Exchange We're filled to thei1
utmost. The measures already taken
for relief OF the money market and
I other measures projected, including
the expressed intention of the secretary
OF the treasury to increase the govern.
ment's deposits with national banks
had their effect in allaying apprehen-
sion.
An Undertone Of strength
Speculation was very feverish. but
there was an undertone of strength
manifest throughout the dividend pay.
!. ing railroads. The downward rush
after the high opening forced price.
down anywhere from to Z ,pui,l.s.
Metropolitan street railway leading.
Good buying then appeared and prices
bounded upwards, American Tobacco
recovering g. There We're many con.
spieuously weak points, industrial spe.
cialties lacking support and giving way
frequently. In the minor railway s,ock-
special groups forged steadily down.
/ ward, notably the Southwesterns and
fhr1 1S II.
Valley preferred sagged 311a. At II
o'clock the market, while quleter, was
s very unsettled. but generally speakin.
the Internationals and Grangers were
fairly we'll held, while the industrial
shares, except for few of the high.
!. priced leaders, We're being hammered
energetically, 81 sssss
Tile brokers on the noor We're ina
. state Of wild excitement and the tur.
opening was indescri bable. The course
of the market ebbed and flowed many
times in the course of the first houl
and became wildly irregular at times.
prices mounting buoyantly at some
points, while breaking anew at other
points. Those who had set themselves
the task of supporting the market, evi.
IDENTIFY had their hands full and had to
3 absorb a seemingly unending stream OF
offerings of large blocks.
Assistance From Investors.
The powerful financial influences
whose effort it was tos ustain and adj
vance prices found important assistance
from investment buying on Il large
scale, which was particularly manifest
in the bond department. Buyers OF
this class displayed no interest III sus.
\ tanning prices and any considerable re-
covery in prices caused a falling off, but
after u decline and a succeeding up.
turn, they came in force. The buyin!
by bears to cover shorts was also in
s large volume at such times. The ava
lanche of selling orders was SO steadily
absorbed that the standard railroa
stocks began to afford a point of resist
ance to decline. There were exceptions
here and there and Metropolitan,
Sugar, Peoples Gas and some of the
Iron and Steel stocks kept breaking
through the line like a powerful foot
ball player trying for a goal. In the
second hour the pressure became less
i severe.
1t became manifest as the day pro-
M gressed that The pressure of liquidation
was over. Additional supplies of
money forced the rate down to 5 per
cent, and prices for stocks began to
& move up. Something like a panic
y among the bears developed. A throng
of bargain hunters who had been
( eagerly watching for a turn in the
h market, also absorbed large blocks of
the standard railroad stocks. At the
N close call money loaned at 9 per cent:
Second Clearing House Loan.
New YORK, Dec. 90 AT a meeting
n OF the clearing house committee, a sec
ond subscription Of 100000 900 was
made 4 up for lending in the stock mar
u ket.