The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-11-18
DRIVES AGAINST THE MARKET
FAILED TO BRING OUT LONG
STOCKS.
DEADLOCK AT INTERVALS.
VOLUME OF DEALINGS DIMINISHED
But FAIRLY WELL DIS
TRIBUTED.
GOOD UNDERToNE PREVAILED.
Net Result OF an Irregular Move
ment Was a Weak Close With
Trivial Changes.

NEW YORK, Nov. 17.-Efforts to bring
about a further reaction were continued to-
day, but, although there was only slight
manifestation of outside interest, the fact that
long stocks did not come out to an impor-
tant extent again disconnected the bears and
neutralized the effect of their drives. The
result was a practical deadlock at intervals
today, and diminished volume Of business.
The dealings were, however, comparatively
well distributed. A firm undertone pre-
vailed the greater part Of the day. due to
the impression generally entertained by
holders Of securities, that although powerful
speculative interests may work the market
lower in an effort to secure stocks recently
sold, the general business outlook and the
improved monetary conditions will eventually
cause a resumption of the upward move
ment. Meanwhile the short interest is be-
Heved to be increasing steadily, and the trad
ers as a rule are discouraged by the char
acter of the traffic returns. The trading to-
day was on an irregular movement, which
in. most shares was confined within narrow
range. The opening was dull and easier in
tone at fractional concessions, extending to
nearly point in Tobacco. The market soon
steadied, however, and moved up sharply on
demand from the shorts Business was
very light and entirely professional. Foreign
houses were without important orders and
dealt moderately on both sides Of the &C
count, their operations including some of the
low-priced shares. The stability of the
market in the face Of the extreme dullness
excited favorable comment in conservative
circles, particularly as to the speculative
leaders which had been conspicuous
in the recent reactionary movement The
high-priced specialties were more interesting
than the general list as some trace Of
manipulation appeared in them. Their move
ments, however, failed to affect the other
shares. The attention Of the traders was
chiefly directed toward the low-priced shares,
including Pacific Mail, Reading and American
Spirits. The last mentioned stocks were
heavily dealt in during the final hour, the
common rising 1ss and the preferred "a per
cent on revived gossip OF the probable forma-
ton Of an agreement between the leading dis
tillers Sugar made show OF strength in
the forenoon advancing Ia per cent. The
stock, however, was the leader in a downward
movement toward the close. and yielded IA
per cent The market closed weak on in
creased activity, chiefly the result OF the
Railway bonds were dull and without special
change. A firm undertone was apparent, how
ever, and dealings were fairly well distributed.
The sales were 81, 442, 900. Governments stiff
state issues $4,000 Virginia debentures sold
at 71R. Silver certificates rose slightly on
transactions of $4,000.
The total sales of stocks today were 1T, o55
800; Burlington, $500; Chicago Gas, ADO;
L. & NJ, $500; Manhattan, $500; Pacific Mail
6,100; Reading, Is, 800; Rock Island, $500; st.
Paul, 1880; Tennessee Coal G. Iron. $500;
Western Union, 6,700; Southern pfd. 3,700;
Silver Certificates, II, 900.
The following were the fluctuations Of the
leading railway and Industrial stocks yes
terday: