Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-12-11
FINANCE AND TRADE
Stocks Were Weak and Prices
Lower.
BIG LOANS CALLED
MONEY SITUATION STILL CAUSE
OF UNEAsINESs.
Venezuelan Crisis Also a Deterrent
Element to Some Of the
Timid Dealers.
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, December lin the Lon
don stock market American shares showed
some irregular declines, but business was
only fairly active.
In the local stock exchange the opening
showed a resumption of the liquidation
which was so prominent feature in yes
terday's trading, and this caused a very
nervous and heavy tendency in the early
dealings.
Some stocks however, such as Baltimore
and Ohio, Atchison common and preferred
and Manhattan, showed persistent resist
ance to the general selling movement.
Pennsylvania, Southern Pacific and New
York Central also showed very fair sup
porting orders. st. Paul and Union Pacific
were not SO well taken care of. In the for
mer stock considerable amount of liquida-
ton was noticeable.
London was a seller Of about 10000
shares, distributed pretty generally over
the list
In the Industrial list there was heavy SELL
ing Of United States Steel common, and
there appeared to be little support. Sugar
held fairly well. Copper was not pressed
for a sale and showed an indication to rally
after each selling movement
Notwithstanding the weakness in stocks
the bond market was a center Of animated
interest, the demand there being good and
the recession in prices very slight. The
floor OF the exchange was, as usual in such
times, given over to all sorts of rumors.
many Of which were absurd and not worth
repeating.
In the second hour of trading the market
steadied somewhat. but did not act well,
as there was a noticeable lack of anima-
ton on the rallies that occurred. while
showing greater activity on the decline.
There was. however, a good deal Of sup
port from the larger interests, but this was
given with considerable caution, and with
= NioA t,,kA SO ,lofi
little stock as possible. St. Paul at this
stage showed the best support. the buying
orders appearing to come from brokers who
generally act for some Of the New York in
siders.
After the noon hour the market again de-
veloped weakness and for some time stocks
broke badly on mixed selling, prices declin-
ing on an average percent below the early
breaks.
There was some uneasiness and mystery
surrounding the sale of 1900 shares of stock
Of very prominent national bank, but the
transaction was afterwards explained as be-
ing part of the collateral contained In a
81, 100000 call loan. the payment Of which
was insisted upon today.
Some other stocks in this loan are said
to have played a prominent part in the
liquidation which has occurred in the mar
ket today. Money ran up to and 0 per
cent in the early afternoon, causing more
uneasiness, but after the delivery hour the
market assumed a somewhat better tone,
but there was Also some good investment
buying at the lower level. and money again
eased Off to per cent.
The Venezuelan situation, no doubt. has
caused a scare among a great many timid
holders OF stocks and caused them to sell
out at any price for fear this government
may be brought into the difficulty. Con-
sentative and influential people, however.
do not anticipate any trouble for this coun-
try in that direction. counting on the as
surances from Washington that this gov
eminent has q thorough understanding with
both Great Britain and Germany as to the
scope Of the plans Of these nations for the
collection Of their claims against Vene-
xuela-
The calling in Of some long loans today
by the banks will be helpful to the none
tary situation and II the reduction has
been generous enough the market should
assume a steadier and stronger tone In the
near future.
In the Anal dealings the market showed
little more inclination to recover some OF
the earlier losses, and there were some
very good rallies throughout the list.