The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-11-25
TWO MARKET LEADERS
Railroads Going Up and Indus.
trials Down.
FORMER HAVE THE PULL
On the General LiSt--The
Week Reviewed.

New York. Nov. 24.-The stock market
showed a divergent movement Of a few
OF the industrials and a handful OF rail-
road stocks The few conspicuous rail-
Road stocks pursued al upward course
mhile the industrials were on down grade.
The movement in the railroads proved
rather more influential on the general list
than that in II iadustriaIs. The under
tone OF the market was Enthusiastically
strong and in the latter part OF the Gay
the strength became more general. Prof
/ it-tahng before the close reduced prices
from the best. In the body OF the active
list net changes 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 the stocks was large from the open
I ing, but as the closing hour approached
/ the dealings assumed astonishing magni-
/ tude. Blocks OF many thousand shares
Of the preferred succeeded each other in
+ quick succession and were determinedly
/ absorbed Or a constantly rising price.
The buoyancy Of the stock carried II up
an extreme 50 points and the closing was
only slightly below that. The net gain
in the common was la There was a
heavy demand for Union Pacific( but
profit-taking met the advance above 81
and its net gain was only slightly over
a point. Dealings IN Pennsylvania were
on large scale and Il rose an extreme
2A with 4 reaction Of L. There was a
feverish speculation IN Consolidated Gas
before the announcement Of the determ-
nation not 10 advance the price OF the
product thus necessitating the contiuu-
ance of the destructive rate war. The
stock sold up 1l4c and then relapsed SIG
and closed at a fractional recovery. The
sensational collapse in Leather came af-
ter the rise TO 2Sc. From that point the
stock sold down Without any attempt at
support, to lS4+c. A fierce and stub
born contest was waged around 70, from
which the supporters OF the stock emery
ed triumphant after absorbing the deluge
Of offerings. There were some evidences
of strength here and there amongst the
Industriais, notably in the Iron and Steel
stocks and Continental Tobacco. A con-
siderable demand was due to the efforts
OF the short interests 10 cover over the
approaching double holiday. Reports of
British successes in South Africa were
used with some effect by the bulls. al
though London was a seller on balance
in this market. St. Pauls weekly state
ment showed an increase Of nearly tl1i.- (
Goo over last year. and other favorable 1
railroad statements had "a strengthening /
effect on the list, as did the placing OF (
Hooking Valley preferred in the dividend 1
list, with the declaration Of the first div
idend Of IL per cent The principal infiu- 4
epce in todays trading was the expecta- /
ton that the bank statement tomorrow 4
will make a strong showing and thus give (
an impetus to speculation on MONDAY The I
sub-treasury operations for the week I
show a gain by the banks Of 1891 90 AS 4
the loan expansion does not seem to have (
been large a very considerable recupera-
ton Of reserves thus seems assured.
Closing prices Of stocks were as follows: