The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-12-18
PRICES 60 DOWN
IN LIQUIDATION
FrT -
Evidence of Relief From the
Process, With Tendency To-
r. ward Recovery.
ST. PAUL'S 8UOYANT UPSH~ 0T
Not Only Fails OF Sympathetic
Effect, But Disquiet;ng Owing
to Signs of Borrowing.
ST. PAUL'S BUOYANT UPSHc 0T

NEW YORK. December 1.-The stock
market was subjected to considerable
liquidation to-day. and a fan "a prices
vas the consequence. There was evidence
81 relief from the process and ten
dency towards recovery IN the intervals
OF the active selling. but the closing was
weak, with can money at twenty per cent.
Various eXpana lions were current o. the
weakness. which partly represented the
Conjecture % traders 20 account for the
fact Of the selling which was obvious
The buoyant upshoot OK ST. Paul. which
was explained iu the proposed stock IN
creases later not only failed of sympa-
thetic effect on the market. but was dis
quietiug. owing 70 signs n urgent borrow
inT demand for the stock in the loan
crowd. which suggested the existence %
. short interest in distress. The stock
was reported 81 one time 70 be loaning
Rat. ia spite OF the stiff money rate
The price ran up % Within "a shade -
go. and collapsed the previous record price
o. los as made lu September. 1902
Peas o. corner fn 81. Paul had 70 do
with THE first selling movement ~ the
day when money went a. fourteen per
cent early in the day. the erect 2'a9
chilling 90 speculative continent Later
there was some relaxation apparent I'm
tho call money market untn the hual
furry % TIC highest 90 the dav. Too
dino money rn1-set reuained strong
with vc~v little Offering
The Tiu stocks were weak again IN
contrast 10 ST Paul. and the subscription
rights both for Great Northern preferred
md Northern Pacific new stock fell sharp
= in the outside market This kept alive
the question o. the ability ~ tte market
- absorb very larse capital issue al-
re4dr made or i- contemplation sub
Fcrirti0r BEGAN TODAY 20 the new $40
mo H0o ieTue - New York Central stock.
70 which t0o privilege remains open until
near tie end ~ the month. The Janutr1.
settlements VII call Tor larger dfsbursr
fnenfs than ever before. and bankers are
inclined o. proceed cautiously until these
payments are met Reports % the ia
tended Introduction 81 a bin -n Congress
70 provide for the forclblo bresking of
freight car bipckades oy government IN
prevention had SOME depressing eject In
the market Reading was especially
woak because ~ questioning 81 recent
predictions az am increase in tho dividend
rate az The next meeting.
Bonds were heavy. Total sales. par
value g. 500 600. United States ta-os adj
va1cci one-eiehth per cent on call
Total sales ~ stocks. eis. 500 shares
'SEw YORK December l7.-aloney on
cal strong "a -o per cent. ruling rate.
u. closing BID. 20. offered 20. Tirne loans
very dan and firm. sixty days TO sag
per cent, ninety days. s bid. six months
g. bid Prime mercantile paper. 6U6E
per cent Sterling exchange elightly
stronger with actual business in bank
or bills at sfS15o43 s. s955 Tor demand.
ms ot 81 1913 - 1880 for sixty-da- bills.
Posted rates ss-gi-@1sf sea s4-S4tns4 s.
Commerri1i bills. tt-- 7-EDS4-S Bar
silver CO l-S Mexican dollars. 52r,.
Ciovernmcrt bonds firm. railroad bonds