The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-11-20
FINANCIAL and COMMERCIAL.
A Decline in Stocks Under
Free Sales.
MONEY RULES AT n.
.f-esr@
The Market Rallies and
Closes Firm.

W AID oTHEEIy
XEpNEspAY. Nov. l9-6 p. N


.3y WEDNESDAY,, Nov. 1916 p. M.
We offer our fluctuations to spectators for rise
npon the break down in to-days market 1t is ad-
mtted that in individual instances the fall has been
disastrous. but it Is claimed that in general way.
1t has been productive of good At least. the dspo-
sition upon the part of bull spectators to run
muck with the stock market has been checked ana
some notion Of what appertans to real values mas
taken its place. Before midday the froth
Of the last few days was blown on. made
to settle down. and prices were nearer
to their point Of real values. There was decided
reaction to-day throughout the list. The engine
reversed. and the pressure to buy gave way TO
pressure to SELL Lower prices were made to the ex-
tent Of from TO Ave per cent. and although there
was nothing of stampede there was decided dis
position to realize in money the profits which had
previously stood on paper With disposition OF
this sort put into practical operation not only by
the big fish of the market. which led the way but by
the small ones that SWAN in their wake. 1t is re-
markable that prices yielded 80 little as they did
drop of halt . dozen points is regarded as serious
Decline 1t being overlooked that many of the
stocks thus suffering have within twelvemonth
advanced anywhere between 40 and 60 per cent. AS
small it Is todays decline s to be regarded as
most healthful oIe not only that it has checked
mad speculation that was fast tending toward dis
aser but that 1t has established sounder basis for
q future rise. Possibly some notion of this sort
marked up the values this afternoon and brought
buyers into the market at the improved prices that
were prevalent late in the day. 1t is quite posi-
BILE. however. that these purchasers may discover
that they have acted prematurely 1t is hardly
possible that the bulk of "out Of town"
spectators viii get wind Of this mornings work
before to-rnorrow's newspapers reach them, but
1t is highly probable that when they do the rural
mind will be directed toward realization Of profits.
It is quite possible therefore that to-morrows
ket may be compelled to meet stream Of rustic
orders to sell and that lower prices may be the
quence. With these put out Of the way. local offer
ngs sell been put out of the way there would
seem good reason to believe that equilibrium will
be restored. firm market established and favorable
symptoms Of new rise developed. There is but
little interest reported in the Philadelphia
market except that, following the example Of
the one here. 1t opened steady. afterward declined
considerably and closed with something Of an i'm
provement. There were good buyers of Pennsyl-
vsnis Railroad at well sustained prices. The rest
Of the list was conspicuously weak. with Lehigh
Valley. Reading and the Northern Pacfcs especially
the morning gave way later ON under the general
pressure. and closed with loss Of nearly one per
cent Our photographic photographs OF the Phila-
delphis market give it rather lugubrious express
siou but it Is conceded that the whole features may
be changed in sympathy with the more cheerful
face which IL 10 expected will be put upon our
stock market before many days are over.
Total sales the Board 800 37 shares against
405, Ol5 yesterday. Following is epitome Of the
transaction;
(Ios:uu