The times. [volume] (Richmond, Va.) 1890-1903, 1899-11-11
LIQUIDATION
ON LARGE SCALE
And the Stock Market Was in a
State of Semi-StagnatiOn.
RATE FOR CALL MONEY FELL
Aud Demand for Stocks Developed
Which Caused Incorporation
in Price TO Closing
Level.
RATE FOR CALL MONEY FELL

NEW YORK. Nov. 1O.-The early part
bf the day in the stock market was given
over TO "a continuance Of the throwing
bycr Of stock holdings which was in evil
uencc yesterday. The liquidation was on
ii large scale, and embraced all depart
Inents Of the list. The more highly specu-
3ative industrlais showed the widest
changes, but the selling Of the standard
railroad stocks was fully equal in amount.
There was no stocks or group OF stocks
which took a conspicuous place apart
arOm others unless II might bC SAID mat
the iron and steel stocks were relatively
somewhat Nrmtr tndu the general list.
The same migut be said of Northern Pa
Vil and Union Pacific. Declines al the
DOW point exceeded " point for many
standard railroad shares, and in a few
cases reached upwards Of TWO points.
Leather. after "a break Of five points. raj
tlod somewhat, and retired into the back
ErOuud OF trading, transactions in IL be-
1ug small for the remainder Of the day.
sugar ana Manhattan were rather weaker
thau the balance of the list. but they
Sdllicd with considerable vigOr. The lat
Ter part Of the day was given over 10 a
gradual and very general recovery on me
Aart OF the earlier decline on d much
diminished volume OF trading.
Most of the leading railroad stocks Ial-
Aeu a large fraction and a NUMBER OF tHe
GlttIaIIfa between / anu = loiltHs I'm.
SidcratlOn OF the money outlook continued
10 dominate sentiment on the Stock LIZ
change. The banks continued TO call loans
Tor large amounts, the rate Tor can
money opening at l3 and running UP 70
IL per cent. Large amounts OF STOCKS
held with borrowed money were thrown
upon the market. After each successive
period of liquidation the market fell INTO
a condition Of sem~i-stagnauon.
During the afternoon the rate Tor can
money dropped o as low as g per CENT,
and the demand for stocks developed,
which caused the Tecuperation In prices
10 the closing level. The usual prelimi-
mary estimates OF the weeks cash move
ments showed a rather smaller shipment
10 the interior than had been estimated.
though The loss 90 the Sub-Treasury or
100000 was sup 60 anucipations.
Tho week net loss IN cash Is figured
at over $i0plONO for an causes. The cas-
ing IN the money rate late IN the day
served 90 amenorate the dread that TO-
morrow bank statement would show an
Increase I'm the deficit. The loan cOntrac-
ton during the week has been large.
There was "a rumor on the floor OF the
exchange that the banks resources had
been Increased by means of cash deposited
10y Institutions iu New York city, with a
view 90 relieve the situation. This rumor
could not De traced 10 any authentic
source. hut affected sentiment ON the
stock Exchange and inclined speculative
opinion 10 look for another surprise in
morrow bank statement.
The stiff money market resulted in q
further drop in sterling exchange rates.
which was assisted also boy buying or
stocks hcrc for London account estimated
ar as high MS COo0o shares. New York eX-
change af Chicago rose again TO par but
rf New Orleans the exchange continued
o. nun against New York.
Prices ~ bonds moved in sympathy with
stocks early in Tho day. but iallro To re-
epond 20 the light recovery Total sales
I.r ra lc. S2N]. oo United states 3s
-a,0vcof T. ana old Us registered a.. in the