The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-01-12
Fr,tanetal.
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THE STOCK M A RK EFT
Characterized by Considerable Activity
on Part of the Bears.

on Part OF the Hears.
! New York, Jan. Ito days stock
| market was characterized by considers
able speculative activity on the part Of
| the bear contingent. Their operations
were restricted to small number of
| stocks all of them in the list of what
are called specalties, including the New
York city traction and lighting Stocks
| and the older high priced industrials
There was positive decentralization in
these shares, in contrast to the fairly
firm undertone of the general list, es-
pecially the railroads. The occasion of
the attack on the industrials was Of
course yesterdays utterances by, the
president of the American Sugar Rein
ing company. The friends of other
stocks in the industrial list made siren
uous efforts to differentiate their move
ment from that of Sugar and marked
them up briskly at the opening in face
Of the violent break in the price Of
Sugar. But the bears met this man
oeuvre with selling in such volume and
with such confidence that one after
another of the specialties crumbled in
price and fell through storm of dis
lodged stop loss orders. Even the rail-
road list was affected at last and the
earlier gains in that department were
generally wiped out. The only promi-
nent railroad stock in which the net
declines reached point were Baltimore
T,,r Do i flo
Pennsylvania and Delaware and Hud-
son. Lackawanna declined two points.
The rally before the close reduced all
net declines in the railroads to fraction
al limits and restored fractional gains
in some cases. The course of Sugar was
extremely erratic and feversh all day.
At the low level 1t was over 8 points
below last night and az below the low
level in the December panic. Its net
loss is g. All of the New York city
stocks were severe sufferers, Metropoli-
tan showing an extreme decline of 9B,
Brooklyn Transit 51s and Third avenue
61A. The gas stocks, Manhattan, Tobac-
co. Federal Steel. Sugar pref, and Ten
nessee Coal were off from to Az. The
borrowing demand for Sugar sent it to
a premium in the loan crowd before the
close. large preponderance of the
total dealings was in the specialties. AT
no level of prices was there any great
activity in railroad stocks. The strength
in foreign markets on the reduction in
the official discount, rates Of the Bank
OF England and thu Bank OF France
was reflected here, and foreign arbi-t
TRACE brokers were good buyers until
prices rose above parity Commission
houses continued practically idle and
there was no disposition to speculate
in railroads. The reaction in prices
was sympathetic. The London buying
was in sufficient volume to cause nota-
BILE heaviness in the sterling exchange
market where the demand for bills was
very light.
New York banks are receiving large
remittances from the interior as well
as from the sub-treasury and rates on
all classes of loans We're notably easier
The bond market was dull, but held
firm throughout Total sales par value
s1,205,00O. United States old tours cou-
pom declined H. IS registered 49, and
3s coupon and old As registered IA in
the bid price.
NEH TORK STOCK M tEH kr,
On the New York Stock Exchange. reported
by Prince & Whitley, Brokers, 15 Center
Street, New Haven.