Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-11-13
ACTIVE AND STRONG.
Confidence Seems 60 Have Been Re
gained I'm the Stock Market.

gained I'm the Stock Market.
Nrw York, Nov. lS-The stock market this
morning feit the influence Of the suspension of
the North River Bank and the disclosures m
regard to the North American Company, and
first prices showed . reversal Of the confident
tone OF last evening. being generally largo
fractions lower than yesterday's hnal nrurss
while North American was 2& lower ~ L. Atchi-
son and Big -Four \ each. Louisville and NASH
siie rs: and several others per cent A food
OF North American was poured upon the mar
ket In the fret few minutes trading and the
price dropped suddenly from i6 70 !. . ioss of
ll$ per cent from last night Some Of the
Others sympathized with this weakness and
Lonisviiia and Nashville fell away ~. Aschisen
nsss" a. sor.nern Pacific l, the preferred y, and
ihe market outside OF North American vas
not specially active. and, with the absence Of
special pressure TO sell, came q material re-
acuon, North American going back 20 lisl and
settiing TO about the level of IL for the re-
malnder OF the hour. Tho confident feeling,
however, vas soon restored and the activity in
creased toward the end OF the hour while
prices advanced more rapidly. the gains over
.he lowest prices OF the early dealings extend-
ing 70 "a per cent. &C and ST. Louis, Read
ms, Atchison, Northern Pacific preferred. Louis
vile and Nashville and Rock Island being moss
prominent in the upward movement which
carried most OF the list beyond the prices Of
l.
hour.
EARLY MORNING scrxEs
There has seldom been Q larger crowd In On
stock at the opening than was in North Ameri-
can when the chairman's hammer fell There
were at least 200 brokers struggling 90 reach
common center. Everybody wanted 20 sell
ana Tor Few seconds bids were undistinguish-
able. Meantime brokers offering the stock in
n ha H.. III -
other side offering il per cent lower, where
upon they went / per cent lower yet and
scrambled over each other 20 get bids at any
price. Within three minutes the price had
iaiien from TO per cent and sales were said
10 have been made at Z. Buyers were found,
however, at and as soon as traders saw orders
TO buy, they seized what stock was offered at
10 and the price was run up 20 IL Supplies
then became liberal and the price went back 10
loS4 and really steadied around IL. prom
lnent operator was credited with having dis
tributed among many brokers orders 10 sell
small lots. The best buying was by German
houses.
THE ACTIVE BUSINESS SUSTAINED.
The active business was sustained in the
stock market after IL O'Clock, but the high
prices of the first hour were not surpassed and
declining tendency was developed Only Q
portion of the early advance was lost, however,
though Northern Pacific preferred declined
~
American to 10. The Wizards were most
active, but Reading. St. Paul and the other
grangers were still prominent in the dealings,
which did not reach the totals OF the past few
days The downward movement made further
progress in the Wizards later in the hour and
North American retired to 3, but the general
list was fairly well held and at noon the market
was active and steady, generally at small frac-
lions better than the opening prices.
QUIET IN THE AFTERNOON.
The stock market after II o'clock was rather
quiet in comparison with the heavy trading OF
the past few days and with firm tone The
best prices of the forenoon were generally
again reached. Decided weakness DEVELOPED
toward pm, however, and sugar refineries
which had been kept quiet all the fore
! noon, became the leader Of the decline,
| dropping from 5s to 54sk. Tennessee
| coal lost 3 at 80 and Louisville and Nashville
"a TO 7ls4, ST. Paul rs at 49,, Northern Pa
chic preferred "a at CO., and Atchison IL at
SOS; the rest Of the list retiring generally
small fractions.
After some hesitation the decline was re-
sumed and Union Pacific scored loss OF 1ss.
The downward movement then acquired addi-
tionai force and everything went. the market
becoming again demoralized and be-
fore delivery hour all the forenoon
advances were completely wiped out, with frac-
| tions in addition Northern Pacific preferred
| was subjected to special pressure and retired
to 5119. At 2:15 the market was active and
weak at the lowest prices Of the day.
Silver opened at 103; highest sale, l03; low
est sale, 1928; last sale, 1929.