The times. [volume] (Richmond, Va.) 1890-1903, 1900-01-05
PRICES FELL
At THE OPENING.
But There Was Recovery BY the
End of First Hour.
BOND MARKET. WAS IRREGULAR,
Ecasr>Sc OF tho Day Was the Continued
Heavy Selling for Foreign Ac-
count Which is Generally
Attributed To Berlin.

NEW YORK Jan. i.-The most con-
spicuouS feature OF Inc day H.idli; ~
stocks WAS the continued heavy seI!lhss
Tor foreign accounts about wiiich mere
was considerable mystery The oraefS 10
Sell IN New York came from London, but
u.onGon attributed them 10 bcTilit ac-
count. Vienna also reported sales on !ts
exchange for Berlin account IN sp!te, OF
the explanation that the t5erAin SeliihS
MAS forced by money str1nSency. Inc Ser
lin discount rate showed ;aSe OIL only
* per cent. In Berlin Itself the depreS-
sion was attributed 10 the decline in Eng
aish ccnsols and to the capture by the
British OF the German steamer .SeneraI.
Wtiic the motive of the fore!Sn SelhhS
was obscure and explanations confused.
the fact Of il was beyond doubt. sales by
the arbitrace houses in New York again
footed up 5000 shares Of the various an
lel,nafional stocks. There is undoubtedly
some uneasiness in financial circles abroad
oyer the possibility Of friction between
Germany and Great Britain over the seiz-
Ircs oC German vessels. 1t IS Worlhy
of note that while interest rates declined
Ia London and The Bank Of England
showed a notable recuperation in re-
sources in its weekly statement, sterling
exchange at the important financial cen
tres. advanced sharply. III spite of the
hardening money rate IN Berlin and
Paris.
The New York sterling rate advanced
at the same time without affecting the
local money market, IN which the rates
sCicd from :, 10 8 per cent. The inference
is warranted that London is preparing to
make further acquisitions Tor foreign gold
supply. and that her money market Will
have 10 meet demands for coming Gov
eminent leans.
In our own stock market the considera-
BILE offerings for foreign account drove
prices down at the opening near 4 point
in the principal interatioal stocks. The
level of prices thus attained coming after
yesterdays sharp reaction. proved 50 IN
Nting that large and substantial buying
dDDeayeG. which forced recovery in
prices by the end of the first hour Later
New York Central was bid up sharply TO
49,, and The short interest in Sugar was
driven TO rout by the stories of a sett!e-
ansnt OF the trade war. Yesterdays rcac-
Gonary movement induced quite an en-
iargement OF the short interest. ana their
demand o cover was an important element
in the days recovery in prices.
The SpeciaiGeS showed wider changes
than railroad stocks, but the demand FOR
7he railroads was large and well u!s-
strength of The trunk lines, their gains
were quite uniform a movement to take
profits in the last hour caused material
reaction reaching TO over > points III some
points in many railroads.
Dealings in bonds were not large. and
enc market was irregular. Total sales.
p az value. $1,755 900. United States new
SIS coupon advanced *. DO. registered.
old As ard IS i. and The new As coupon
Is IN the bid price.
The total sales OF stocks to-day We're
GoS 400 shares, including Aichtsun pre-
ferre,i 2o,130; Baltimore and Ohio 1,4S0;
Chesa peake and Ohio. 10,61G: Chicago
Great Western, ::ss.2222j5; Chicago, Burlington
and Quincy, IA 900: Chicago and North
wester1L Il 1000: c., c., C. and ST. Louis.
O5Ga; Louisville and Nashville. 2O,05o;
missouri PacGic $50: New York Gem
yral, 2557C; Norfolk and Western, $3.50;
Northern Pacific, $500: Pennsylvania ~
G4fl: 81. F1lul. 9.453; Southern Pacific, So
$50: Union Pacific. $685.; do. preferred,
{, $40: American Steel and Wire. lJ1JG:
American Tobacco, sc. 3e9: Brooklyn
Rapid Transit, sGi70; Federal Steel, TO-
go: North Am erican. 1900: Peoples Gas.
l0759: Sugar, 1882; United States
Leather, 25.s1G.
MONEY AND EXCHANGE.-AIone on
cali steady at 566 per cent; last loan AT