The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-11-27
THE WORLDS MARKETS
Daily Record Of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT


New York. Nov. es.-To-day's short ses-
sion of the stock exchange was long
enough for several uncertainties to de-
velop again. so that the session as a
whole continued Of the same Irregular
and mixed character as those of the
whole week have been. The strength of
Americans ON the London market was not
sufficiently pronounced to affect the OPEN
ing prices here and prices were below
the London parity even where gains were
shown. 1t was clear enough. however.
that there was continued good demand
for Union Pacific. and the st. Louis q
San Francisco preferred and Northern
Pacific recorded gains
There was continued proft-taking evil
dent at every point. and Manhattan suf-
fered a break of IN points on published
denials of a Vanderbilt interest. and To-
bacco almost as much on the threatened
competition I'm cigarettes There were
conspicuous fractional recessions also In
the Baltimore & Ohio stocks and the coal
ers showed no exhilaration over stories
that "the coal trade nae been hxed."
There was not much encouragement to
bear operations In such a market. and
when cables were received that the Span
ish government had Instructed it's COM
m~issioners to sign a treaty of peace the
liahRtt .ao esh~ P" 49,
quickly recovered a part or all Of the ear
lier declines.
Atchison's October statement helped
that company's preferred stocks. and by
sympathy the entire list. The statement
showed a net increase of SGT 437 saved out
OF the gross increase. IL was announced
incidentally that the reduction In ope-
rating expenses. due to extraordinary
expenditures for betterments, would be-
gin on Dec. I.
Good statements of earnings by a num-
Der of other railroads helped the recovery.
The bank statement was considered a
strong one at first glance. with the in
crease in surplus. though subsequent
scrutiny OF the decrease In the loan item
caused some modification of this view
and caused some late reactions. But not
until an active buying movement had de-
| veloped all through the list.
A mid-week holiday Is almost certain
to break In or the course of a market
and to curtail operations. except such as
are designed to 'even up contracts. The
past week was no exception and the
movement of prices has been highly irreg-
ular at all times and at intervals inclin-
ing toward the reactionary side. The ag-
gressive attitude assumed by the North
ern Pacific towards the Oregon Naviga-
ton in Its policy to extend into disputed
territory has brought large blocks of
| Northern Pacific stocks to the market
from the d~isgruntled element in the own
ership. The banking interest, which
| seems to assume the task of maintaining
the price of the stock in the face of this
LIQUIDATION, is also known to be deeply
| interested In the newly fioated Federal
Steel company.
Proit-taking in the Atchison securities
was on a large scale and there was some
uneasiness felt early In the week over
the outcome of the Paris peace confer
ence. which emphasized the inclination
TO sell. The strained relations among
| Northwestern railroads and the snow
| storm served to divert the buying de-
mand to other quarters.
The bono market has been active and
broad during the week and prices. with
few exceptions. are higher. though there
has been some irregularity in the move
ment at times.
U. s. SIS coupon have advanced y per
cent, the old IS registered and the new
as !. per cent. and the 2s. SIS. the old
as coupon and the SIS registered Y per
cent. in the bid price.