The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-11-23
r1ylvorlD AND cowMEruAL.

TUESDAY, Nov. %.
The hrst movement OF prices on the Stock
Exchange was a sharp recovery from the de-
preston caused by the circulation late yestor-
day afternoon Of a canard that the Spanish
Peace Commissioners had withdrawn from the
negotiations at Paris. During the arst few
minutes OF business the market was fairly
buoyant ut decided advances upon The final
prices OF yesterday. Tine improvement. as
usual. invited sales TO realize profits and
also Cor short account by the professional
element. with the view. presumably. OF
scalping q profit on the short side. Foreign
arbitrage houses were also moderate sellers.
particularly OF Atchison securities. Weakness
developed in Northern Pacific common and
preferred aud in Federal Steel stocks. In con-
sequence the market through the middle Of
the day was dull and the tone was in the main
heavy. The only stocks that moved contrary
TO the prevailing tendency were Manhattan
Railway. Southern Railway preferred. and a
number Of the less active shares.
In the last hour the entire list became strong
under the lead OF Northern Pacific issues. par
tIculary the common. This movement was
accompanied by reports that the management
OF the company had taken steps to resume
negotiations for q settlement OF the differences
between the company and the Oregon Railroad
and Navigation Company. There Is reason for
believing that there is some foundation for
these reports. Almost simultaneously with
the circulation Of the reports referred to II was
announced that the manager OF one OF the
local Vanderbilt properties had been given
an important place in tho management OF
the Manhattan Railway Company. This bit OF
news helped to lift the price Of Manhattan
Railway TX y cent. Indications that an alli-
ance has been formed between the Federal
Steel and the Carnegie Steel companies. for the
harmonious transaction Of the steel rail bust
ness. stimulated buying OF the preferred stock
OF the first named that resulted in a recovery
in price OF nearly . points from the lowest fig
ure. Southern Railway preferred was second
only to Atchison preferred in respect to activity
and scored the greatest net advance OF any
active stock. namely Ok p cent.
The total dealings. though somewhat smaller
than yesterday, were in excess Of halfa million
shares and were very we'll distributed. Even
the anthracite coal stocks participated in the
final improvement. though the dealings in
them were not large. except in Delaware and
Hudson. Noteworthy net advances were re-
corded for Chicago and Alton. Chicago and
Eastern Illinois issues. National Biscuit and
international Paper common. Regarding the
last It is understood that the first dividend
upon It will be declared at to-morrow's meet
ing OF the directors, whensthe usual quarterly
dividend at the rate OF 9 y cent. is declared upon
the preferred stock. That a dividend upon the
common Is justified is shown by the earnings
OF the company for the six months ending Sept.
80. which. according to those interested in the
company. were $500. 900 above the amount re-
quired to pay interest charges and the divi-
dends upon the preferred stock for that period.
It is also stated that the profits for October.
after providing interest charges and dividend
upon the preferred stock for the month. were
over $1,000 A lower market for exchange
and sliphtly easier rates for money abroad had
some effect upon speculative sentiment. The
closing was in the main strong and fairly
active.
New York Stock ExchanGe-Sales Nov. 22.
UNITED STATES AND STATE BONDS TN 81. 00osl.
10 q IS. r.......1 o5N, 25 Us 4a.r r. 1925. 127M
70 Us $50 8 US IS. r......l12
O6M0l O5Hl l o Va F deb PISS
Il q 3 30. ser B of 1891. 8