The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-12-22

Bank Of France. Much Importance SEEM
ed to be attached to the latter action as
an obstacle to the requirement of gold by
the Bank Of England. Londons pressure
upon Paris was reflected in a jump of 4
confines in the sterling exchange rate at
Paris. Forced liquidation on the London
exchange was on a large scale and over
flowed to the New York market
The internationally listed stocks We're
acutely depressed at the opening and
were not able to make any substantial
Roadway all day. In the last hour there
was renewed selling of this group, which
forced down prices all through the rail-
road list from ~ to points, the extreme
decline being in North Western. The lead
ing specialties We're also at the low point
of the day in the last hour. The bears
were active in the late drive and circu-
lated stories of a panic in London on ac-
count Of a fresh disaster to the British
arms in South Africa.
Buying to cover short contracts caused
some sharp rallies, but they were not
we'll held, and the closing was exceed
ingly unsettled at substantial losses COM
pared 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 Z per cent in the morning, rates were
being made at from to per cent when
prices were dropping most rapidly.
The weakness was not so much confined
to the speculative industrials as was the
case yesterday, and if liquidation was be-
ing forced by discrimination as to collat-
erals, the standard railroad stocks were
thrown over to obtain funds for the pro-
lection for holdings of industrials. Prices
in a number of important stocks ap-
preached 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 apparently 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 Monday S
low level. Metropolitan and Manhattan
were acutely depressed, the former fall
ing s points The New York Gas stocks
were 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 discrim-
ination against some classes of stocks
as collateral, easy conditions were main
tanned in the money market. A slight de-
cline in the sterling exchange rate might
be due to enga gements of gold for ship
ment Saturday, which 1t is now taken for
granted will be large. Interest begins to
center on what the effect of the week 8
events in Wall street will be on the Sat
urday bank statement.
Bonds weakened in sympathy with
stocks Total sales, par value, $2640,000.
United States IS and the old As advanced
a in the bid price.
STOCK QUOTATIONS.
The following were the fluctuations Of
the leading railway and industrial shares
furnished by c. II. F. Smith & Co., mem
bers of the New York Stock exchange and
Chicago Board of Trade: