The times. [volume] (Richmond, Va.) 1890-1903, 1900-01-12
THE BEARS WERE
QUITE ACTIVE.
Their Raid Was Restricted TO Small
Number ofStock.
a RALLY BEFORE The CLOSE.
Their Raid Was Restricted to Small
Reduced all Net Declines in the Rail
roads to fractional Limits aud
in Some Cases Resulted
In Small Gains,

NEW YORK, Jan. 11.-To-day's stock
market was characterized by considerable
speculative activity by the bear contin-
gent. The raid. however. was restricted
TO 4 small number of stocks, al among
the Specialtics, including the oder j gil-
priced industrials. There was positive
decentralization in these active stocks IN
contrast TO The fairly firm undertone of
the general list, and especially the rail-
roads
The attack on the industrialS was due
To the attitude of the president of the
American Sugar Refining Company Other
stocks were marked up brislIlT at the
opening in face of the violent attack on
sugar. but the bears met this Inanouvre
with such confident heavy selling that the
Specialtcs successfully crumbled in price
and fell through storm of d.slodsed
s;op-ioSS orders Even the railroad list
was affected at last and earlier gains gem,
orally wiped out. The only prominent
railroad stock in which the net declines
reached /. point were Baltimore and ONO:
Chicago. Burlington and Quincy. Penn
Salvania and Delaware and Hudson. Inc
j-'lckawanna declined > points.
The rally before The close reduced all
net declines IN the railroads 10 fractional
limits and restored fractional gains In
some cases Tie course of Sugar was ex-
treme.y erraiic and fererish all day. Its
extreme net loss was points All the
New York traction and lighting shares
were severe sufferers. Metropolitan show
ing an extreme decline of 9lS. The gas
stocks. Manhattan. Peoples Gas. -Iobac-
co, Federal Steel. Sugar preferred and
tennessee Coal We're off from 5 10 n. "A
large preponderancc Of the tota! dealings
was made up by this group OF spec:aities.
AT no level of prices was there any &C
tiviiy III railroad StocSS~
The strength in foreign market on the
reduction of official rates of the Bank of
England and Bank Of France was re-
fiected In this market. and foreign arb.
TRACE brokers were good buyers unuI
prices rose above parity.
The bond market was dull, but held 1lr1n
throughout Total sales, par value,
N.2o5.0 600. United States old IS coupon
declined II Us registered q, and do. cou-
price.
The total sales of stocks We're 1900
shares. including Atchison preferred, IT,
1:ro: Chicago. Burlington and Quincy, H.
$40: Rock Island. 7,01i; Manhattan, l.
4G5: Metropolitan. $3.50: Pennsylvania,
S.G2O; st. Paul, 1860; Missouri Paclilc,
900; Southern Pacific, 1880: Union Pa.
cific 16.g20: American Steel and Wire, IT,
$40 American Tobacco, iO,C34; Brooklyn
Rapid Transit, SO49S; Continental Tobac-
co. 1900: Federal Steel, 1850: Gas, l2,lS9;
Sugar, 5,615; Leather, $3.50.
MONEY AND ENCHANGE.-AIoney on
call easier at 3MJI. per cent; last loan at
; per cent; ruling rate, j per cent; prime
mercantile paper, 312d6 per cent SterEns
exchange heavy, with actual business III
bankers bills at s4-ST1;S for demand and at
81 S3lA for sixty days: posted rates, S4.S412
~. SSa4 $751;: commercial bills, S4 .S2Ii.SS
Silver certificates. aS1S9391a; bar silver,
l,Sai: Mexican dollars, Az. Government
bonds weak; State bonds inactive; rail
road bonds firm.