The times. [volume] (Richmond, Va.) 1890-1903, 1900-12-29
PRICES SHOWED
WIDE DECLINES
Selling TO Take Profits Came on Mar
ket Like Flood.
The MARKET VERY IRREGULAR.
The First Efforts Of Bears 10 Dcrrcss
Prices Mere Defeated, but Selling
Was Renewed in Late Dealing.
Market Closed Unsettled.
ny Associated rress.)

MEN YORK. Dec. 2S-The history of
to-day's stock market does not materially
diner from that OF preceding days TOR
long time past that is 10 say. selling
TO tahe l,roIts came on the market ike
Hood an the opening dealings, and the pro-
fesslonal bears, constantly WatcnIut Tor
the fTst sign OF the reaction which they
know must inevitably come, offered prices
down in an attempt TO distodSe long
stock. Their efforts were defeated, as
they had been many previous coca
sionS, by the supporting orders winch
came into the stocks attacked and new
points Of strength which were confidently
InarSha!ed from among the stocks when
have not yet enjoyed any considerable
rise The point wherein to-dayS market
Gifered from those Of recent stock TX
change history was that the pfetiI-tafahS
was renewed in force before the close
and the unsettled condition continued un-
iii trading ceased, prices at that time
showing wide declines from the best. and
IN some cases being well below last night
There were no remaining points OF
strength to sustain the market in this
late break the ingenuity of the traders
having apparently failed them, either m
dustTy in seeking out new stocks being
overcome by very WeafintSs- once again
The oft-recurring cry Of yeaf-ehd
squeeze in the money market was raised
this morning in connection with the
opening attack on stocks Loans to-day
on the Stock Exchange carry over until
Monday. but this fact. coupled with the
s-car-c,id requirements failed to create a
ripple OF trouble in the cali-loan market
only at The opening was per cent:
asked and the rate declined from that
point = strong bank statement seems
assured tomorrow. in view of the gam
by the banks during the week from Sub
Treasury operations Of S2.3i!.Wjo and an
estimated gain on the interior express
movement Of nearly S5."0OGgr more. The
failure of the money market 10 harden
81, V,l rTH "
tha opening break. in which Peoples Gas
brooklyn Rapid Transit and Sugar We're
forced down from u. TO : points me
striking feature of the bunyant market
which prevailed during the middle poT-
tom of the session WIS the Inconsistency
al The strength and demand Tor special
stocks A rapid price movement IN an
individual stock would tie followed by Il
sharp reaction while the speculative de-
nand would shift hurriedly to other quar-
tors. rapidly bidding mp prices / ar = or .
, points Some lime pools had no dill
ScuIty i'm liquidating their holds AT hand
Ssome day $ pTotit The list OF stocks IN
tsiicl this operation occurred lncluueS
many Of the hjgh-GTa,le railroad stocks
: as we'll as OF those known as cats ana
docs Incident of the day was the rise
in 81 Paul above Burlington. This su.
r,-cfnac~ WAS contested. the friends OF
Eurlinrtou raIlvinS the stock again 10
abssro St Paul. but the latter stock closed
within !. Of tho top and q above Bur
linrfpR. The late f"eh"flon SNlrent WIS
duo moro 10 = oenc~aI desire In convert
NJ NO.. ,,-afts e~our,nlv into caGi
Tho demand for bonds was not conspicu-
GUS As yesterday. but there We're strong
points in The market Total sales par
value. 81 ~. COG United States old Is
advanced n. refunding IS . and IS and
- per cent. on the last call.
To-day's total stock sales were l,f6G,:N"
shares-
MONEY AND ENCi4ANGE-Me on
can nrn al ;@6 per cent: last loan At )
per cent. ruling rate, 40 per cent. prlme
mercantile paper. l%iH3l2 per cent Ster-
ling exchange firm, with actual business
i'm aukcrs, ills III 4.S5 for demand and at
4 Sfl4m5 Sf8s for sixty DAYS; posted rates,
( - and : Sc; commercial bills. 4SVl@m
4S1 Silver certificates. 64i@@G5l2; bar
silver. Gaai. Mexican dollars, 80. Govern
ment bonds strong; railroad bonds mac
live, State bonds strong
ZANE, CIEARINGs.- Total bank clear
ingS ut principal cities in the United
States for the week ended yesterday were
i 7S: go. csc. an increase of 11.9 per cent
over the corresponding week last year.
Total outside Kew York, Go1,93S,313. or
i :, per cent. increase.