The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-09-21
MONEY HOLDS FIRM,
Liquidation in Wall
Street and Sharp
Declines.
RALLY IN THE AFTERNOON.
Boston Specialties We're
Quiet-General
Notes.

Money has settledson a 697 per cent
basis in Wall street, with the time rate
firm, at per cent.
The news from London concerning the
Transvaal crisis was decidedly warlike
yesterday, and more liquidation of
stocks was started, with rumors of
loans called eon some of the speculative
specialties. Early'dealings saw fraction
al gains, but by noon a sharp decline
had taken place throughout the general
list. In this drop Sugar fell Az, Peoples
Gas T. Continental Tobacco 31s, Man
haitian 3ss, Brooklyn Transit Z, Met
ropolitan and Tennessee Coal 35a. In
the standard stocks c. B. & @. receded
lie, st. Paul IL and Rock Island 2. but
all of these declines We're from the
mornings highest prices, the latter
being well above yesterdays close.
There was fair rally in the afternoon.
changes at the opening were irregu-
lar and in most cases We're less than u.
Brooklyn Transit on sales of $500
shares, sold from 81 back to so, which
was Tuesday nights close. Support was
evident in the Flower group, Peoples
Gas, Rock Island and Federal Steel
rallying from the opening figures and
Brooklyn Transit rising quickly again
to 8lSs. Lackawanna, rose 2 points and
tennessee Coal lost point, but recov-
cred it. The tendency was upwards
after the opening and values improved
rapidly, Tobacco, Lackawanna, Sugar.
Tennessee Coal, the local issues, the
Flower group and the grangers leading.
Advances from the low point ranged
from l to 334 in these and q large frac-
ton elsewhere. Weakness in Pan Han
die forced it down 8, and Hooking VAL
ley common and preferred lost a point
each. The Flower group was attacked
shortly before eleven and BROOKLYN
Transit fell from S2% to IS, breaking the
previous low record. Gains We're extin-
guished entirely throughout the list and
prices fell below the early point in a
few minutes of trading. The break in
prices was L to points
Further progress to lower level was
made in the second hour, some stocks
ruling materially below last night.
Brooklyn Transit touched 77A and rail-
lied feverishly. Sympathetic recoveries
occurred elsewhere, but near noon pres
sure in various stocks unsettled the
general list. Steady dribblings of the
Flower stocks put Rock Island under
112 and Peoples Gas to 1861. Brooklyn
Transit was hammered theoretically
and dropped to 751a on an avalanche Of
offerings. No support was evident in
American Tobacco and Sugar. which
tumbled 4@419 points from the highest.
United States Milling preferred sold at
so, against IS the last sale, and the COM
mon was offered down about ten points
without any sale. Pressure against the
market relaxed after midday, and prices
rallied on bear coverings. Brooklyn
Transit came back to 1917. Sugar, Peo-
pies Gas and American Tobacco re-
gained 2, and many other stocks l to
M. Selling was renewed in force by
o'clock, when Peoples Gas had dropped
again to the lowest Again there was a
rally in the next hour In word, the
market was intensely feverish and
heavy.
Boston sold Sugar, c. B. & Q. and
Federal Steel steadily, while its own
specialtias We're neglected. Montana
jumped 10, to 34S falling back to 337.
Foreshadowing of the next dividend as
SIS per share, making $36 per share for
the year, started the buying, less than
100 shares coming out on the advance.
Parrot was sold down from 471a to 46A
rallying to A. Amalgamated, in curb
dealings, strengthened to 911a. The
theory that ~ per cent regular" and
u Of per cent extra will be declared
is based on the idea that it is conserya-
tism to make the rate within reason.
That is, if 1917 cents for copper con-
tinues, s per cent can be paid; if the
copper market declines. there win be
no reduction of the regular 6 per cent
rate. This probably will be called con-
servatism and worthy of admiration. 1t
certainly is good sense. British Column
bia was fairly active, losing 1, to 10,
with u rally. Other mines changed but
little CentralNOil was off 11s, at 49, East
Boston Qand) was iactive, at SK@15;
Mergenthaler Linotype lost 1, to 203
The following quotations were made
on the Boston exchange yesterday on
stocks held in Worcester and vicinity:
BOSTON QUOTATIONS.
reported by Kinnicutt & Dewitt)
TELEPHONE STOCKS.