The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1898-11-29
STOCK MARKET.
Animated Buying Movement
Broke Out in Last Half Hour.
Prices Carried BuOyanty above the Pre-
vious High Level

New York, Nov. 2S.-An animated
buying movement broke out in the last
half hour Of todays stock market
Which carried prices throughout the
list buoyantly above the previous high
level, and made the closing very strong.
The demand was broad and better dis
tributed than at any other time durine
the day and the market looked health
Ter and freer from manipulation, and
less congesJed in a few prominent
Stocks, than at any time during the
current upward movement.
Just what the motive fol. the renewal
OF the buying was did not become OBJ
Vlous. Perhaps the sullen obstinacv of
lhe market in the period of duIlness
ana reaction in Spots, which followed
the opening strength had q large in
Huence in encouraging renewed
commitments to the long side. The re-
port OF some orders in commission
houses which had been held back by the
damage to telegraph wires, was also
a factor. The market had already had
It's opening squirt on the acceptance by
Spain Of the peace terms offered by The
United States.
Prices for Americans had been sharp
ElIOilE
showing of this factor before the open-
ing here. The professional traders rule
to sell on good news brought a flood Of
offerings to realize on the opening adj
vance by those who had been buying
for several days in anticipation of the
Paris decision. The bears seized the
opportunL@ 10 attack a group of spec
lalles, including Manhattan. Brooklyn
Transit, Sugar, Peoples Gas and To-
baccO, and worked declines in them Of
from 1 to per cent. The coalers,
which have 50 often been the one tar
get for the bears, broke away from
their associations. and showed unusual
strength on account of the belief in
an adjustment of difficulties over the
control of tho trade. There was notable
realizing in the Atchison issues, which
held them back throughout the day.
There was heaviness also in the Federal
Steel stocks, and at one time in Sugar.
The reactiOnary tendency carried pri-
CeS before the middle Of the day back
to near Saturdays level in some cases.
The recovery began with the receipt Of
number of strong traffic returns, no.
tably that of st Paul for October,
which showed an Increase in net earn
ingS Of $306.676, after an addition to
operating expenses of nearly $4,000 Ov
er last years expenditures. There We're
good statements besides for the third
week in November from Norfolk and
Western, st. Louis and San Francis
co. Southern railway, and Denver and
Rio Grande. and for October from
Chesapeake and Ohia, besides an in
crease of east bound shipments from
Chicago last week Of II, SIS tons over
the preceding week, and Of 81, 442
tons over the corresponding period Of
last year. The trunk lines felt the
benefit of this latter statement, espec-
tally those Of the south, the northern
lines feeang the adverse effect of the
snow storm. Baltimore and Ohio be
came conspicuous in this group in the
late dealings The aggressive strength
shown by Union Pacific, Northern Pa
cific and the Oregon Short Line issues
was rather convincing evidence of pro-
gress in the efforts to heal the differ
ence between Northern Pacific and Ore
gon Navigation There was consplc-
uous upward movement in MetrOpoli-
tan Street Railway, carrying it to 1903,
in spite OF loss of earnings by the snow
storm.