The times. [volume] (Richmond, Va.) 1890-1903, 1900-01-04
STOCK MARKET
CLOSED LOWER
Depression Manifest From Opening
in Sympathy With London.
BERLIN SOURCE OF WEAKNESS.
Selling From That Center Both in
London and New York Was on {.
Large scale Bonds Showed
Yielding Tendency.
BERLIN SOURCE OF WEAKNESS.

NEW YORK, Jan. :i.--Thc stock mar
ket to-day Was unable 10 resist the fac
tors working towards reaction. and closed
al losses both for specIllties and III the
railways running from TO ; points de-
preston was manifest from the opening
in syia.aathy with the earlier declines III
The LonG.s market, but the doWhward
tendency VAS resisted. A number OF the
Industrial STOCKS advanced III u somewhat
excited manner in the FIRST hour ana IN
duCed u sympathetic hardening OF prices
al through the lisi.
Consolidated Gas jumped points on the
report of lis absorption of an electric
lighting company and incidental adTan-
iaEes 10 the local Sas war. American
Tobacco rose an extreme > points. anu the
Continental TnhaCc0S We're strong. Sugar
showed a disposition to continue its adj
vance and some Of the iron and steel
stocks maintained yesterdays sko" OF
strength III the group. The isolated points
OF strength IN The market however,
proved entirely insufficient 10 sustain
prices in face OF the constant dribbiing OF
Z sales for foreign account ana. therefore.
local account WAS scnHuentally affected
by the weakness abroad. y runor was
circulated that LauYSmith had capituiated
to the Beers. The effect was significant
of what may be expected from the securi-
ty in case of further revcrses to the Brit
isil arms in South Africa. for traders
who were long Of stock FASTENED to take
theiF profits in lace OF tho possibility IN
voved
Tie later news Of the day made it clear
that the rea! source OF the days weak
ness was Berlin. Selling from that centre
in London and OF American securities in
New York was ON q very large scale 1t
was based on the weekly return of the
German Imperial Bank, which showed
loss of SO, 600 in cash. u loan expan-
sion in face Of this decline of ST., 100000.
and an addition to the notes in circula-
ton of upwards OF S33.oGe, 600. was an eX-
11fl rry1.,
which served rather 10 Startle the tiDan-
>:ial world. Those stocks which We're
strogest yesterday did not entirely lose
their gains of yesterday. but. in the case
of Baltimore and Ohio stocks. the Pa
cifcs and number Of southern stocks.
large inroads We're made upon values.
Conditions in the local money market
were undisturbed.
The bond market showed yielding
tendency in sympathy With stocks. Total
sales. Sl,9I5,o0o United States new As
registered advanced =. and do. coupon,
The IS. old As and as Il in the bid price.
The total sales OF stocks to-day We're
S14.Sf0 shares including AtchSon. Goo;
do, preferred, 2i,7J0; Baltimore and Ohio.
I.049; Chesapeake and Ohio. l6,13o: Chi
caEo Great Western. 600: Chicago Bur
linEton and Quincy. 1855: Rock Island.
11,G15: G., c., c. and ST. Louis, T.i3b;
Louisville and Nashville, 1t.519: Manhat-
tan. 1866: Metropolitan. S,2Sl: Missouri
Pacific 1880: New York Central "a
Norfolk and Western, $3.50: Northern Pa
cifc $3.50: Pennsylvania 12G4O: st. Paul,
14.110: Southern Pacific, IS, 30: Southern
railway preferred, G.Mio; Union Pacific.
Il. $50: do. preferred. S,GI5: American
Steel and Wire ~ $50: American Tobacco.
1910: Anaconda G.nS-,: Brooklyn Rapid
Transit "a $50: Continental Tobacco. 3D.
300: Federal Steel, I9,3G0 Pacific Mail
fGG2: Peoples Gas. 12.::iQ: Sugar. SG.G2l
Tennessee Coal and Iron, $50; Leather
81 GO; Rubber 1,G.1: Republic Iron and
Steel, S.iG0,
MONEY AND ENCHANGE.-Money- on
call steady at iff6 per cent: last loan at
i per cent: rulin- rate 8 per cent: prime
mercantile paper, C per cent. Sterling eN-
change firm with actual business in