The times. [volume] (Richmond, Va.) 1890-1903, 1900-01-24
war RUM0RS
CAUSE coll Sc
The Action Of Foreign Bourses Con-
troll Market,
SALE OF FOREIGN HOLDINGS.
E OF FOREIGN HOLDINGS,
Professional Movements Could Not
Stop an Impressive Volume by
Dealing on the Declinc-Spccu-
Iators Take tho Profits.

NEW YORK. Jan. 23.--Thc stock mar,
ket was as barren Of any weii-dehneu
issues bearing on prices of securities as
Tor several days past. Nevertheless. theie
was u general and quite pronounced col
lapse from the firmncss which has Deeh
characteristic of the undertonc OF lhe
market for se-eral days past. inc re.tc-
ton took ITS Initiative from the European
boHrses. The foreign selling here was IN
Very considerable volume. and was ac-
companied by runors of new disasters 70
The British military forces IN Soutn
Africa The denial of these reports ial ed
TO check tie reactionary tendency. The
decline caused the taking of proi,ts ~
spectators who have held through seN-
eral days Of rising prices and VINO were
weary Of waiting for further advance.
The halt in The advancing tendency also
caused the putting out of short INES py
the professional bears. Even allowing ior
all of these professional movements, 'he
Volume OF the dealings on the decline w;iS
of rather impressive proportions. and the
losses sustained. especially by the lead
ing international stocks were quite Sc
we're. Only a few escaped With less 1il;l !,
point of loss. and in others 1t extends
10 near per cent.
In some OF the speculative sneclaities
6 losses are even greater. sugar. Broohi.il
iRaptd Transit. Tobacco. Jn.ted states
Leather. Peoples Gas and some OF me
steel stocks we're notable sufferers Inc
Third-Avenue and Manhattan all showed
early strength, but All yielded 10 the la! er
Z "ClRIeSS. gains eiitiIcl? HiPtt 'iI-
.I,Iere came Il halt to the decline carr!
in The afternoon, with demand from me
shorts TO cover. but the selling was re-
newed before the close. Which was AT Inc
lowest of the day. The board-rnom
traders expect to get their stocks back II,
London in the morning al profit 1heFe
was no quntable sag in money rates to-
day. but the tone of the market was a
trif!e firmer, and sterling exchange also
rallied a fractional.
The addition to the New York banks
reserves were believed 10 show some fall
ing off from the recent leading advance
in bond quotations This was attributed
TO the lessened accumulation of unen-
ployed funds. Tot,.l sales. par value.
$1,000. eco. United States old As regis
tered declined y and do. coupon *.
Total sales of stocks were 'iH', 40
shares. including Atchison preferred
6.GJo; Baltimore and Ohio. >. 80: Turing
ton. 6.4:s:,: Manhattan. 6.ISe; Metropoli-
tan. 1910: Missouri Pacific. 1o,S4o; 81.
Paul, 1920: Union Pacific. a.i1o: American
Tobacco 90. 76i: Brooklyn Rapid Transit.
41,G71: Sugar, &c. 373.
MONEY. AND EECHANGE.--1oney on
call steady at 3Gi2ia per cent: last loan
at , per cent: prime mercantile paper,
41sffG1s per cent. Sterling firm with ac-
tual bueness in bankers bills at S4.Siai
and sIss3:a4 SSIS for sixty days; posted
rates. ASih1l.SI and S4.S71snI.SS: com
1nercial bills. s4.S3R+. SSia Silver certif-
Gates. 5Gaf CGo.5: bar silver 60; Mexican
dollars 47io Government bonds weak:
State bonds inactive: railroad bonds
firm.