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Show II HEAVY SELLING IS FEATUREOF DM J Wall Street Prices Break Under Liquidation That Conies I in a Flood. DISPOSITION SHOWN TO PROTECT THE 'MARKET ilally at the Close, With Tone Strong and Feverish; Many Vague Rumors. NEW YORK, Jnn. J9. The stock market underwent, severe pressure from further liquidation today. Prices broke acnin and again under the renewed flood of stock which poured upon the market. There was an evident determination, deter-mination, however, to protect the market, mar-ket, and supporting orders appeared at enp.ll r1prlinr In rooiof tin. iln-niv'irt I tendency and rally price?. The nature of this nuyinji was indicated by withdrawal with-drawal when it had effected its purpose pur-pose of steadying the market. It was not pursued at the advance when prices approHched last nipht.'s level. The market closod with such a supporting sup-porting movement' in progress and the tone was consequently strong at a final I Tally, although extremely feverish and very active. There was continued lack of any immediate development in the . situation to explain the volume and the urgency of selling. It, was nh ions that a strong organization of bear operators were active and alert to r.nke advantage of any sign of weakness, and their raiding tnctics were effective in dislodging dis-lodging weakened speculative accounts. ac-counts. It was generally suppose I thai liquidation liqui-dation was in progress of some important impor-tant account of long standing and in If r "uiutiLvu jiirm, wnicn wns UCMlg thrown over to relieve an overstrained position in the market and for the protection pro-tection of the brokerage houses. .Individual .In-dividual brokerage houses did not cs-capo cs-capo rumors of money difficulties, and many vague rumors wore kept in constant con-stant circulation, although of a less specific spe-cific character. Ma 113- diligent inquiries were set on foot as a result of these conditions and clearing house and banking authorities gave their sanction to assurances that no evidence of embarrassment was discoverable. dis-coverable. Tho principal selling pressure centered cen-tered on Reading. Union Pacific, Southern South-ern Pacific, and, alter a show of strength, St. Paul. The market showed the most, acute weakness after the appearand ap-pearand of the bank statement, when numerous offerings of the stocks above named came upon the market. Tho ?.!. 19S.000 cash gain bv banks was much in excess to expectations. The tlo.l'IS.OOO. loan increase was attributed to a large transfer of loans from London Lon-don to this market. Money rates lose also in Loudon. The apparent concert of unfavorable criticism criti-cism of American securities and finance by the foreign press is a depressing factor, owing 0 its probable diseour-nging diseour-nging cficet on any intended purchase by foreigners of American securities. An underlying influence on the read-niistmcnt read-niistmcnt of prices in progress is in contrast con-trast of the greater attractions to be offered by now securities and tho deep disposition to provide means for tak ing them up by liquidation of securities securi-ties at a correspondingly higher ranco oi prices. 519 000 Sa'Cfi f 10"dS' Valn0' I New York Bonds. U S. ref 2s rcfir. .1013'apan Ch 2d s.. . ref 2s cou.. 10 1 J Japan 4s ctfs.. SU L) 5 3s re?.. 102 Japan IJs ctfs.. 038 ii ,l!Lcou 1023 Jap Us c 2d p. . .10? tt .4s rce-iP02 L & N unl -Js .1005 u b old -Is con.. 1003 Man con Is. .100 u s now -ts rcff.iasaMex Cent -Is.,. So" o h now is COU.1203MC.V Cent 1st Jne 25 m Zob is 78 M & St L 4s.... D3 Am Toh Cs UO M IC & T 4s. .. !7 Alcljlson s -Is.. 102 M K & T 2iis. ST Atlantic C L -1s 981 N V C p .lis... X.l 5 g " 102 N" J C Ken 5s..l26J B fc 3Js 02iXo Pac 3s 73A r.T J1 T J?v ls" 83 & W c is.. .'193 Cent of Geo os.HOiO S L rfdpr is . 01 C of Geo 1st Inc. 87 Pcnn cv 3js. ... D6i C or Geo 2d inc. 73 Rend gen 4s PS C or Geo 3d inc. fi3 StL. & I M c 5s. IMS ?.,?3P&.P s.,10-1 Sir, & S F g 4s S2 UhL&n -v'10" 3is 751 StL Sw e 4s.... 7SJ C B & Q n 4s.. 96 Sea A L la... . .SI CRI & P It -is. 7G So Pac Is SSJ S2J, ? J1 c s SOiSo Pac 1st -is c. 9 M CCC Sz StL g 4s. 102 So Ry 5b 1121 Col Ind ;.s s A.. 73J Te.v & Pac lsts.117 Co Mid 4s ..... 73 Tol, StL & YV Is SI J Col & South 4s. 03 0 Union Pac Is.. 1012 Ci'a s 102 u S Steel 2d 5s. 973 D &. R G is 97 j Wabash lsts ...lis Dlst Sec ns.... SSj Wabash Dob B. 72 jrle p Hen is. 0S1 Western Md 4s. Rli , Erie gen 4s S7 wh & L B 4s . S7 Hock Val lis... 1041 wis Central 4b.. 89 Japan Cs ...... 0SJ New York Money. XEW VORIC. Jan. IP. Prime mercan-tile mercan-tile paper, per cent. Sterling ex- change stronp, with actual business In bankers bills at ?4.So.90'ff'4.SG for demand. and at S4 SI .754. SI. SB for sixtv dav bills, j. Posted rates, JI.S2iJJ.S2i and "S4.SG 1 Commercial bills, f l.Sli'fJ 4.S1J. Mexican dollars, o2Jc. , BondF Governments stcadv, railroads irregular. Money on call nominal; time loans weak. Sixty days. 5i per cent, and nlne-ly nlne-ly days. nS?53 per cent: six months, 5i per -cent. Treasury Statement. WASHIN-GTOX, Jan. 19. Todav statement of the treasury balances In tho , general fund, exclusive of the S150.000.000 sold reserve, shows: Available cash bnl-?Pc.ci-!6Jy."997-157: 5lfl ?ol and bullion. ?104,oo2,Sll: gold certificates, ?4I,610,G20. Itendon Wool. LONDON. Jan. 19. The wool auction sales were continued today and n good selection was offered, numbering 1143 bales. The bidding was brisk, -with the , homo trade and America taking grcasv merinos. The Jotter also bought good crosabrods. while France secured the bulk of scoureds. Prices ruled in sellers' fa- IH " St. Louis Wool, IH ' ST. LOUIS. Jan. 19. Wool, steady. Me- Hl S.,m Plce. combing and clothing. 2(f? IH 2Slc; light fine. 20fi23c; heavy fine. 1G 1,c" lul washed. 303Sc u IH; , Liverpool Wheat. , LIVERPOOL. .n. 19 Close: Wheat March. 6s 4id: May, Gs 3Jd. .Tulv fis Sd. IH J received6 er " E"g,tlIHl t0c,fiy waa nt 11 J IH 1 Minneapolis Wheat. IB . M''VW-IS- ,n- "Close: Wheat IH b-ic'-i 1 Northern. Sic; Xo. Yorth.! crnv7SSS7Sic; So. 3 .Vortherai 777c. |
