The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-11-26
nIxcIn ~ oons1nnmAn


.-do.a on the Stock Exchange TO-DAY. The
pVllnRins was not Influenced BY news affecting
S ss for there practically were no important
.AN.ionments. Superficial explanations OF the
On'.tonary tendency OF the market were that
~ ia the only full business day between two
.oi,doys and apprehension as to the outcome
nStho peace negotiations because OF the dila-
.,r, tactics Of tho Spanish Government. The
~; r.oson for the hesitatinG character of
r.' market can doubtless be found ia
wv ". ,roduL realization that an enormous
UNIT n, stocks has been marketed since
l M BEGAN 10 rise Immediately after the cleo
pE. Tho transactions In Atchison preferred
WI 10 Northern Pacific Issues alone within the
wv ,r, or three weeks naturally suggest an
o,irv es TO who has aiken the stocks that
nv N.. hoon sold, It 10 conservatively estimated
n |" rnrope has sold at least 100000 shares Of
".tison referred within tho last two or three
80 and n much larger amount OF Northern
80 common and preferred. particularly the
I romed. There has also been unusually
s selling OF these stocks for domestic ao-
count,
ua,tst very heavy realizing hence the inquiry
!. most pertinent as to the present lodging
Secs of the stocks that have been sold. There
.nrsar, 10 have been comparatively little or
.,rized buying. indeed there has never been q
80 vhen the Street has heard less gossip re-
aiding bull pools and cliques In various stocks
.h,n Al present. A part Of the demand can. as
rspal. DO attributed to the short interest.
U.s., IA purchases would not explain the
s.owraratiyely well-sustained demand. not
.,v for active issues. but for many Of
,So less inactive stocks. The conclusion
.ssns unavoidable that the public outside Of
Wall street is again in the market. and with a
.orsr OF absorption that was not expected
.sIthsr by professional operators or by dealers
II sacuritles on O large scale. II the demand
,,om that quarter has not been fully supplied
sra nothing occurs to impair confidence the
rrhl,c may. as on previous occasions, take the
market away from those who imagine that they
ara experienced In Gauging its movements. At
,he moment there appears to be nothing
N sight calculated to disturb confidence.
sIcept the inability OF railway managers to re-
train from cutting rates While they are han
dlInr an unusually large volume Of business
and the demonstration here and there OF the
tutlly OF industrial combinations to minimize
competition. These circumstances seem TO be
oyershadowed, however. by the enormous vol
ume Of business that is being transacted. heavy
exports Of staple products. low rates for money
and the strong probability Of a conclusion OF
the negotiations with Spain upon practically
the terms proposed by the United States.
The dealings in stocks were fairly large and
well distributed. Atchison preferred at q net
decline Of a point led the list in respect to ac-
.iyity. Other weak features were Sugar Rein
ing, Manhattan Railway. American Tobacco.
Peoples Gas and Northern Pacific issues. On
the other hand. the Union Pacific stocks. par
~ticularly the common; Reading, Louisville and
Nashville. and Baltimore and Ohio. all assess
ments paid, and the new stock, deliverable
when issued. were exceptionally strong. Anet
decline OF nearly 3 points in American To-
bacco was explained by the publication OF
further details regarding the organization Of
the Union Tobacco Company. Sugar Refining
sold off on the reduction OF q sixteenth OF a
cent in the price OF refined sugars and Peoples
Gas on the formal but not unexpected an
nouncement that the company has decided to
Increase its capital 100000 to increase its
facilities and to acquire new property. The
amount Of new stock to be issued at once
Is So 700 1000. which, as noted in this
column several days ago. will be offered
BRO rata to the present shareholders
In spite Of the reactionary tendency.
tnumber OF the specialties. notably Chicago.
Indianapolis and Louisville preferred. Chicago
Great Western b.. New York Air Brake. Oregon
Short Line and st. Louis and San Francisco
preteued stock. closed materially higher than
on Wednesday. London was considerable of
factor, trading for both accounts and buying
somewhat more than it sold. The closing was
in the main firm, at a fractional recovery from
the lowest prices. yet at figures which as a rule
were below the final ones OF Wednesday.
New York Stock ExchanE0-Salos Nov. 20.
TINTED STATES AND STATE BONDS I'm 81. 0o0s,.
10 Us ss,c / Tenn Set 3s.... %
lo5aslo5NlS4 Va F deb 2-as
l0Us4sc .1 1907, l1lH OF 1891. 7os0S0
go Us Is. c, 1925. l27A
CLOSING PRICES OF UNITED STATES BoNDs.