The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-11-12
N0|ket Reports.
FINANCIAL.
STOCKS AND BONDS.


M New York, Nov. 10-The stock market
today displayed continued activity and
La broadening tendency, with Industrials
4again in comparative security, aside from
Sugar and Chicago Gas. The specula-
v tive movement reflected strenuous efforts
by sold-out bulls and by the bear profess
SIGNALS to bring about a reaction. The
tactics employed were only partially sue
cessful, owing to heavy purchases of the
low-priced shares and increasing outside
interest in the market generally, which
was stimulated by further relaxation in
money and commercial paper markets
and decided reaction in foreign ex-
change rates. Time money was loaned
for all periods at IL per cent on choice
Stock Exchange collateral and at ) per
cent on good mixed securities. The
market for discounts broadened consid-
erably and prime paper was taken in eX-
ceptional quantities at ) per cent, with
. IL per cent the high figure. Good
western single named paper was dis
counted at per cent, which Il week ago
was practically unmarketable. Actual
demand sterling was quoted by some
buyers l cent lower and sixty day bills
were also shaded materially, while in
some instances posted figures were re-
duced cent. The weakness of the mar
ket was attributable partly to the com
pletion of covering of sixty day sterling
loans and of payments made for blocks
of our government and other securities
recently sold in this market for foreign
account. On the other hand, a depress-
ing influence is beginning to be eXerted
on Change by renewed foreign buying
of our railway investment bonds and
advocates nf lpyunr t,,.isn
were also checked sensibly by the favor
able impression created at home and
abroad by the exceptional rise in the New
York City municipal bonds. The eff
forts now making to bring the business
of producing and carrying bituminOus
coal to profitable basis in justice to the
operators, railways and miners, also
counted in the speculations as the revi-
val of industries generally is certain to
create large demand for coal a com
mission house inquiring for low priced
stuff was again a feature of the deal
ings. The efforts of the bears referred
to and realizatiOns caused an irregular
movement but the fluctuations were COM
paratiyely unimportant so far as the act
i've list was concerned The greatest
pressure was directed against the Gran
gers, Sugar, Chicago Gas and Reading.
The market became animated in the
early trading and the widest variety of
dealings recorded in the movement was
noted. Southern preferred was partic-
ularly in good demand at the close on
rumors of an impending agreement on
coal, iron and other rates with some of
the competitors. Renewed favorable ru-
mors regarding Manhattan caused an adj
vance of 2 per cent and the greater part
of the improvement was retained. In
the afternoon session the market lapsed
into comparative dullness and the fluctua-
tions were narrow. The closing was
fairly active and irregular, but the final
prices showed only net changes either
way in the leading shares.
Bonds were easier early but frmed up
toward the close. The inactive issues
were in good demand and scored substan-
tial gains. international and Great
Northern rose IL per cent: Union Pa
cifc sinking funds per cent, and Texas
Eastern firsts 3-4 per cent. Sales,
$685., 900.