The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-11-25
FINANCE AND COMMERCE.
Now York stock nrarkot.

New York Stock Market.
NEW YORK. Nov. a4.-The glut of
money, the demand for frst.class rail.
way bonds, reduction in sterling ex.
change and purchases of stocks for
London accounts, produced a, better
condition Of affairs at the stock ex-
change to-day. Some of the shrewdest
manipulators on the street discovered
early In the week that the market had
been heavily oversold and that latent
short interest existed that could be
forced to cover.
Another contingent of operators was
advising action because of the tariff re-
vision and the lack of knowledge as to
the result OF the deliberations of the
ways and means committee. The
chronic bears were adding to their short
lines, while the bulls were gradually
getting into position to bid up prices
sharply. This happened to-day, and the
shorts were badly punished. Already
investors are putting their surplus funds
into gilt-edged bonds. AS the supply is
limited, buyers are forced to pick up
are reasonably sure OF paying their
interest charges by and by. 1t is ex-
pected by the bulls that this demand
will make itself felt in the stock mar
ket.
As q rule stocks opened higher. Sub
sequently American Sugar fell ~ and
General Electric X. Sugar was heavy
on statements from Washington that
the ways and means committee would
recommend certain revisions in the
tariff, which would affect the carrying
capacity of the concern. General
Electric weakened on rumor via Bos-
ton that the company would pass into
the hands OF the receivers. This was
promptly denied by President Coffin.
The general market was strong from
start to finish. Western Union moved
up to 9o}6, and this stock was strength
ened by an unfounded report that the
company had obtained control of the
Postal Telegraph Company. Reading
was in better demand on rumors that
the statement for October would make
fine showing.
On the other hand the st. Pauleroa
reported loss OF S65,16 for the third
week of the current month, but this did
not have the slightest e ffect on the mar
ket. The improvement for the day
ranged from 4 to per cent. and was
most pronounced in Manhattan, General
Electric, the Changers, the Coalers,
Western Union, Texas Pacific, Missouri
Pacific and the Vanderbilt issues. In
preferred rose a; Pullman Palace, 3;
nited Slate Rubber preferred 81; q me
and Ogden, en-; Evansville and Terre
Haute brought 71@72 last sale. The
total transactions, $4,000 shares. A
big demand prevailed for railroad Sc
curities throughout the day. The trans.
actions were heavier than for some time
past.
Money on call has been easy, ranging
II, L. - :
offered at 1 n. Prime mercantile paper,
416@5 per]S cent. Bar silver, TO- Mexi.
can dollars, 56ss. Sterling exchange
weak, with actual business in
bankers bills at 4s3@4s3H for sixty
days and 4s5N@4s5% for demand.
Posted rates, 4s3H@4s6M. Commercial
bills, 4s2@4s3% for sixty days and 4s41S
@4S4& for demand. Government bonds
steady. State bonds dull. Railroad bonds
strong. Silver at the stock exchange
was neglected.
Produce and Merchandise.
NEW YORK. Nov. 24.-Flour quiet,
steady; winter wheat, low grades. 2. 0O@
245; patents, 3.40@3.65; Minnesota
clear, 2.5O@2.9O; patents. $4,000 IS;
low extra, 2.05@2.45; Southern flour
dull, steady; common to fair extra, 2 90
@3.0U; good to choice do, 1904 90.
Wheat, spot market f1rmer, quiet; No.
red. store and elevator 66%@67, afioat
67A@6sA; options were very dull,
closing firm at 16@% advance; Decem-
Der, G6%; January, 6Sh; February, coz.
Corn spot dull, firm; No 9, AK eleva.
tor, 454@4516 afoat; options dull, un-
changed to &c up; trading dull. Novem-
Der, 441s; December, 44ss. Oats moder-
ately active, hrmer; November, a4%;
December, 345S, No. 2, 34@3415; No.
white, 36@36 X; mixed Wastern, 1896;
white do, 36@40. Hay quiet, steady;
shipping, 20; good to choice, 5000.
Wool fair demand, steady; domestic
fleece, 20@25. Beef quiet, unchanged;
beef hams, dull; tierced beef Quiet,
easy; city extra, India mess, 90.
Molasses, foreign nominal. New Or
leans, 30@3s, quiet, steady. Peanuts
steady, fancy hand picked, 4@44.
Coffee options steady, unchanged to. Is
points up; November, 16.70@16 rs;
January, 1610@16.15; March, 1875;
July, 15.10@15.l5; spot Rio dull, steady;
No. 7, 17%@17T. Sugar raw dull,
steady fair refining, 2%; refined steady,
moderate demand; No. 6, 8 13-16@4;
standard A, 4 5-16@4]6; cut loaf. SO
s 3-16; crushed, SOS 1-16; granulated,
A 5-16@45s. Freights to Liverpool
quiet, steady; cotton steam, 11-64d;
grain by steam, Sd, nominal.