The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1898-11-26

New York November 25-The action of
the stock market today was suggestive of
q process of rather elaborate and cautious
testing The powerful allied interests
which have led the recent bull campaign
refTained from buying on large scale to-
day, and seemed to occupy the position OF
1ookers-on at the profit taking sales in
progress standing ready, however, to come
to the support Of their favorites in the
event of their being too hard pressed.
Profit taking was very clearly in evidence
in the Atchison issues, the Federal Steel
stocks, Peoples Gas, Southern railway pre-
ferred and a number of others upon which
the recent advance has been sufficient to
make profits attractive. The selling pres
sure was by no means urgent IN these
stocks. which showed a decided falling of
from the recent degree OF activity, except
Atkinson preferred. But they were cIeariy
lnuisposea to advance. The Northern Pa
cine stocks maintained their recent drop
ping tendency pending the result of further
consultations between Northern racine ana
Oregon Navigation authorities looking to
the adjustment of the dispute over division
of territory. 1t was significant that the
stocks of other railroads very much inter-
ested in the controversy were inclined to
advance. The Union Pacific stocks were
strong, the common gaining 1ss and Oregon
Short Line rose over point. Great North
ern, on the other hand, lost a point. There
was evidence of manipulation at some
points, no doubt designed to counterfeit the
profit taking elsewhere and to sustain the
market This was most fragrant in the
Reading issues. The first preferred stock
closed unchanged from Wednesday, after
having been over points above the parity
of Wednesdays closing in London this
morning ia above at the opening here and
IA below during the course of the after
nosn trading. The movement in the others
was insignificant, although efforts were
made to convey the impression that the
movement in Reading securities was due
to coming favorable developments in the
coal trade There were also very positive
elements of strength at few points, nota-
, bly, in Baltimore and Ohio, Louisville, st.
Louis and San Francisco second preferred,
and Great Western preferred BIS, Erie first
preferred and Pittsburg,- Cincinnati Chi.
cago and Northern preferred also show
gains. Lake Erie and Western preferred
and Chicago, Indianapolis preferred showed
gains of ~ and respectively. The move
fnent in Baltimore and Ohio was peculiar
in that the old stocks and the new COM
mon, deliverable when issued rose 2% each,
while the new preferred, when issued,
which is restricted to dividends of 4 per
cent, reacted a small fraction. Manhattan
advanced to par, bat closed at $685., and
Sugar turned weak after early strength.
Tobacco also lost over points. The clos
ing was generally firm and the net changes
are mixed.
The bond market was much less active
than recently. and shared In the Irregular
fly on the stock market Total sales APO,
900. United States 3's. the new As and the
old As registered, advanced * in the bid
price.
Total sales of stocks 44S200 shares,
including Atchison preferred. $3.50; Balti-
more and Ohio II 900; Burlington, S572;
Louisville and Nashville, 1920; Manhattan,
30, 300; Reading first preferred, 2s,SS5;
Northern Pacific, 10.0S1; Rock Island. 7.2S5:
Union Pacific, 2303 do preferred, 149l9; st.
Paul, II 1887; Southern preferred 12752; To-
bacco, 37,6O0 Sugar, 2S,609.
Money call, steady at 2Gf2k per cent,
last loan, 2d2A.
Prime mercantile paper, 31ad41s per cent.
Sterling exchange, easy with actual busi-
ness in bankers bills at $4.S4A6$4S5 for de-
mand and at s4S1sI@$4S2 for sixty days
Posted rates. s4.S21a01$4S SO and $4S56is4 $751;.
Commercial bills, AS1@s4.S11a.
Silver certificates, 601a@61R.
Bar silver, GO 3-16.
Mexican~dollars, 467s.
Government bonds steady.
State bonds firm
Railroad bonds irregular.