Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1901-01-21
MARKET AS BEARS LIKE IT
Reckless Unloading Of Stocks for Half an
Hour Or More Ahsr Opening,
Flood of Selling order. Breaks Prices
Rally la various stocks stopped
Decline Excitement subsidized.

profits or to prevent losses on largely
extended long accounts was the princi-
pal element of the weakness, but the
critical condition Of the queen Of Eng
land had q very marked sentimental
effect, Thus. while the selling Of stocks
for London account was a small ele-
ment In the break In prices, last weeks
persistent decline here In the process OF
speculative liquidation was directly ac-
countable FOR the action Of the market
The impairment OF margins had the ef-
feet OF very general demands from
brokers FOR additional securities from
their customers The inevitable effect
OF such a condition OF AFFAIRS Is the
placing OF large orders 10 sell stocks.
The bear party on the exchange, aware
Of the fact that there were very large
selling orders 20 be executed were alert
To take the market away from those
looking TO llquidate and afterwards 10
offer prices down with the purpose OF
uncOyering stop-loss orders. With the
Hood Of selling orders for both accounts
which We're thrown upon the market,
the prices Of stocks broke IN some
what alarming manner. There were
such declines from Saturdays prices as
8h In 81. Paul, In Pennsylvania. In
Northern Pacific. ga IN Colorado Fuel,
3 In Pressed steel Car and 5& IN ANAL
gamated Copper and 4 In Republic Steel
preferred. A large number OF the most
prominent stocks on the list suffered TO
the extent OF between 1 and points.
The unwieldy proportions OF the short
interest in the market again proved a
powerful supporting influence and the
Oh .NHH. 60.
cover. The lowest prices OF the very
weak stocks We're momentary dips with
Immediate rallies. Thus there was but
a single sale Of st. Paul at 1927 and
with a few succeeding transactions the
stock was back al li4,
There was notable strength on Mis-
souri, Pacific throughout the furry.
After o small fractional decline II rose
rapidly points above Saturday and
had a large influence In checking the
weakness elsewhere. Amalgamated
Copper recovered 3ia; ST. Paul "a;
Pennsylvania, ~; Kansas & Texas pre-
ferred. 2. and q large number Of stocks
from ] 10 ~, bringing prices in many
instances near 20 or above Saturdays
level.
This substantial rally In prices caused
fell aWey TO q comparatively small vol
ume The undertone Of the market
continued rather nervous but the heavy
liquidation ceased.
After midday the Wabash securities
became buoyant. the common rising
Pa the preferred g. and the debenture
bonds 4 points.
When. later the speculative demand
Z. 81. f.l "a -.
losses followed. which affected the gen.
era market. 81. Paul. Baltimore &
Ohio. Northern Pacific Brooklyn Tran
sit. Manhattan. Metropolitan and Erie
first preferred We're offered freely and
lost over a point The steel stocks were
inclined 20 yield. The whole market
was steady but continued dull
In the final dealings the upward
movement took on renewed vigor under
the inpetus OF enormous buying Of
Missouri Pacific That stock rose 10
near a1 and the earlier losses were COM
pletely wiped out and net gains estab-
lshed varying from fraction 20 over
point, Even ST. Paul and Amalgamated
Copper rose huoyantly over Saturdays
level. The closing was active and firm,
near top prices.
Bonds were easier in tone.
CLOSING STOCKS.
New York. Jan. 2l.-Closing stocks;
Atchison, 1855; Atchisun preferred, SlAs;
A. S. & W., 39is; a. 5. & W. preferred,
A. American Tobacco, 1928 American
Tin Plate, 59 American S. II. "a; A. S.
r., 6lis; b. r.. r., IN; b. & o.. s6A;
g. q o. preferred IS, C. B. q O., ~;
q. c. c. a ST Louis. ID; g. i. q l., 48is;
q. c. w, 11k c. s., SOS Continental
Tobacco. i27. G.. & o., 31h; 9. a A.,
S77s. G.. & A. preferred 1874 d. 8, r. g..
zgA d. & H.. ljl; General Electric lS6:
i. s., i6k; r. s. preferred. esq. Glu-
cose A.. Illinois Central 1904; Jersey
Central 1872 L. a n, Sia Leather
(common). lliz Leather preferred, ,ai5;
A. * q r. preferred, i67s Manhattan,
ll3A Missouri Pacific, 30 METROPOLITAN,
1901, Northern Pacific, N0h New York,
Central. lilL, Pennsylvania. lBh.;
Pullman, 1861 Peoples Gas. sS; Read
ing. 305e; Reading FIRST preferred. 69ia.
Rock island llSis Southern Pacific.
n4 ST. Paul, ll6A Sugar. 1882; r. G..
j. j5h Union Bag IA, Union Pacific,
sih, Union Pacific preferred, S2i5
Western Union, S3is.
MONEY AND BONDS.
Money on cali nominally at 2G2h pet
cent
Prime mercantile paper, SAGih per
cent
Sterling exchange strong with actual
business In bankers bills al 4S74G
ASH for demand, and az 4s2aGAS2s.
for sixty days.
Silver certificates. aEd65i!.
Bar silver 63~
Mexican dollars. 49,
Government bonds. frmer. L. S. re-
funding 2s registered. 1864; do
coupon 10jis; do coupon. 1851: reg
istered. 1904, DO coupon, 10. new Is
registered. 36is; do coupon. 1874. old
Is registered 1881; do coupon. li3iz.
81 registered. HOY, do coupon l.i0a
District Of Columbia 2s. l25.
SUGAR,
New York. Jan. 2l.-sugar Raw
steady; fair refining 1916; centrifugal
90. test 4 5-i6; molasses sugar 3 sic
Refined steady. Crushed Sc; powdered
$50; GRADUATED $50.
CHICAGO MARKETS.
PRODUCE.
Chicago. Jan. H.-May wheat opened
at 7iA 10 5ih, touched 7ih, rallied 10
I5N.
Close--wheat--Jan., 72s; Feb, 72N;
May 75h.