The age-herald., 1901-02-19
THE BEARS TOOK
 AN ACTIVE PART Offered Prices Down Freely and Caused Short Selling STRONG SUPPORT LACKING In the stee Stocks 1t Was Clear Enough That speGulators Were Attempting to Adjust Prices
 In New Combination.
 
STRONG SUPPORT LACKING

New York, February lS.-Todhy was one of active speculative liquidation in the stock market The bears took 8 very active part in the days proceedings both by short selling and by manipula- tion for the decline offering prices down freely and boldly There was not much evidence of determined support except by the sympathetic influence of the per sisting strength of a few individual stocks Beside the extraordinary move ment in the steel stocks there was decid- ed strength shown by the new Toledo, St. Louis and Western stocks. St. Louis and San Francisco preferred, Illinois Central, Cleveland, Lorraine and Wheel ing preferred, Amalgamated Copper and Consolidated Gas. There was evidence of continued activity on the part of bull in Burlington and the other grangers showed some sympathy at one time. There was some support at intervals, also, by sympathy with Delaware and Hudson, which was extremely cratic all day l. sold down early points and then got s14 over Saturday. There was a downward plunge in the period of gen eral weakness of points and the tlnai rally left the net loss only 1%.
 In the steel stocks it was clear enough that speculators were attempting to ad just prices to the supposed terms of eX change of the existing securities into the stock of the new combination. The tape llado it pretty clear that in the presenl coalition ot the plan of combination the p.el,-..d stocks are intended to beneht in the exchange far more than the com mon stocks The first class were all eA- traordinarily buoyant and the common stocks showed signs of demoralization
 Hoop preferred advanced at one time 7h and other gains by the preferred stocks were [; by tin plate 4ss; by Fed eral Steel l. by steel and wire, and 2A by Republic Steel.
 These advances were curtailed by the reaction in the market. National tube led the decline in the common stocks or the steel companies, breaking ' full points and closing at the lowest. The losses Of the others were partly recovered, but at one time Colorado Fuel was down IA National Steel and Tennessee Coal A. Federal Steel 3@; American Hoop 319 Steel and Wire 3A, and tin plate 2ss. In the general list the reaction ran all the way from Ito points, the wider losses being among those stocks which have been most manipulated for an advance notably the Southwesterns, including Missouri Pacific and Kansas and Texas preferred, and some of the lately devel- oped obscure stocks, such as Evansville and Terra Haute and the new North American stock.
 Heavy buying of Southern Pacific As was the feature of the railroad bond market The tendency elsewhere was gen. orally reactionary. Total sales, par value, s, ,525, 900.
 United States old 4s advanced A per cent on the last call.
 New York, February 1S.-Money on call steady at 21a per cent. Prime mercantile paper 31ad4 per cent. Sterling exchange steady, at decline, with actual business in bankers bills at $4.S@4.S71s for de- mand and at $4.S37s for 60 days. Posted rates $4 S41ad4. S51a. Commercial bills $4 S31a Silver certificates 62Q63. Mexican dollars 47s4. Government bonds strong state bonds inactive; railroad bonds ir- regular
 New York Stock Market.
 By Private Wire to Murphy & Co.