The age-herald., 1899-11-25
STRONG UNDERTONE
 IN STOCK MARKET Showed Divergent Movement in
 Few lnduStrialS.. NET CHANGES VERY SMALL Movement in the Railroads Proved More Influential Than That in
 Strength Gen.
 eral Toward Close
NET CHANGES VERY SMALL

New York, November 24.-The stock mar ket today showed divergent movement of @ few of the industrials and hand full of railroad stocks. A few conspicuous rail- road stocks pursued an upward course, while the industrials were on the down. grade. The movement in the railroad list proved rather more influential on the gen. eral list than, that in the industrials.
 The undertone of the market was unnis- takably strong and in the latter part of the day the strength became more general. Profit taking before the close reduced prices from the best. In the body of the active list net charges are surprisingly small, and while the majority are gains, there are important exceptions on the side of losses. The Baltimore and Ohio stocks were the center of interest. The buying of these stocks was large from the opening, but as the closing hour approached the dealings assumed astonishing magnitude in blocks of many thousand shares of the preferred, succeeded each other in quick succession. and were determinedly absorbed on a continually rising price, The buoyancy of the stock carried it up another extreme 5A points and the closing was only slightly below that The net gain in the common was 1B There was a heavy demand for Union Pacifcs, but profit taking met the advance above 51, and its net gain was only slightly over point. Dealings in Pennsyl- vania were on an unusually large scale, and it rose an extreme 214 The Hooking Valley stocks gained over point each on the de- claration of first dividend on the preferred There was a feverish speculation in con soiidated Gas before the announcement or the determination not to advance the price fIattC A-zif at tinuance of the destructive rate war. The stocks sold up 1R and then relapSed 512 ana closed at a fractional recovery. The sen sational collapse in Leather came after the rise to 2S. From that point the stock soio down without any attempt to support to 1S% fierce and stubborn contest was waged around 19 from which the support CTS of the stock emerged triumphant after absorbing the deluge of offerings. Inere were some evidences of strength here ana there amongst the industriais, notapiy m the iron and steel stocks and Continental Tobacco stocks. A considerable demand was due to the efforts of the short interests to cover over the approaching holidays.
 The principal influence in the day traa- ing was the expectation that the pahk statement tomorrow would make strong showing and thus give an impetus to specu- lation on Monday. The sub-treasury opera tions for the week show gain by the hanks of $7, ,000 As the loan expansion  does not seem to have been large very considerable recuperatien of reserves lhus seems assured. A
 There was a good absorption ef bonds al advancing prices. Total sales, par Value'
 % 1O0 OOO United States s and new IS ao- vanced Ad in the bid price. The average or prices is somewhat lower than at the close of last Saturday, notWithstanalng seiy shorn advances in a number of individual stocks which are usually not prominent in the market.
 New York November A-Money on cail steady at 5@6 per cent; last loan, per cent. .
 Prime mercantile paper. 5hQ6 per cent
 Sterling exchange firm, with actual pusl- ness in bankers bills at s4.S5ss@4.S6 Tor oe- mand and at $4.HA@4.81z for sixty days:
 Posted rates, 4S2d4. .s2la and s4.S612q4'Sd.
 Commercial bills, $4.SOA.
 Silver certificates, 5SA@591a
 Bar silver. 59
 Mexican dollars, 47A.
 Government bonds firm.
 State bonds inactive "A
 Railroad bonds firm.