The sun., 1899-11-29
FINANCIAL AND COMMERCIAL
TUESDAY, Nov. %

| TUEsDAY NOV. 26.
! The predominant influence In the stock mar
ket to-day was the belief that an alliance OF
some sort has been or is about to be made be-
tween the Pennsylvania and tho Baltimore and
Ohio systems. Reports regarding the matter
could not be coDirmed-in fact. they elected
denials In every quarter whore confirmation
was sought. The shares Of the two com panies
and Of tho New York Central Company as
well were extensively dealt In and all closed
materially higher than yesterday. In spite OF q
general reaction vt the close OF business,
caused by a little furry In the call money mar
ket In which loans were made at rates as high
as 10 per cent. London appeared to take stock
In the reported trunk line com bination. for
foreign arbtrage houses bought about as
many stocks "a they sold ye ,terday. and their
purchases were largely Of the trunk line shares.
The London market for American securities
was favorably affected by the disclosure OF q
comparatively small account In them on the
the occasion Of the fortnightly settlement on
the London Stock Exchange to-day and the
fact that the money rates for carrying them
through the next account were 8ht97 per cent.
which was not considered high In view Of
the condition OF the London money market.
Money In London was generally easier. and
some bankers are now venturlne the predic-
ton that the Bank OF England will not raise its
Bank appears to have the money market pretty
well in hand. and though 1t is shipping good
deal OF specie out Of the country 1t has also be-
gun to receive gold from the interior. A
moderately easy money market In London Is
as desirable from speculstiv" point OF view
as comfortable conditions here. 80 close are the
relations between the two markets
The total transact ons in stocks we're good
deal smaller than yesterday. but notwithstand-
ing the unusual interest In the trunk line
shares they were exceedingly well distrib-
uted. Still the market was In the main
professional There was cons sderable
profit taking in the shares that have
enjoyed good advances OF late. and
some selling for short account. In onsequence
the course o. prices was somewhat irregular:
still. nrmness predom n ated. In the railway
list stocks. other than the trunk line shares.
that made good showing were Atchison pre-
ferred Chesapeake and Ohio and Brooklyn
Rapid Transit Thers were movements OF q
curious character in Duluth. South Shore and
Atlantic and In Peoria. Decatur and Evansville.
In the early dealings Manhattan Railway was
strong. but subsequently became weak.
In the Industrial group Leather common
was again conspicuous in it's progress toward
a lower level Sugar Refining fuctuated rather
widely but closed only fractionally above thu
final price OF yesterday The Steel and Iron
stocks received fair amount Of attention and
closed frnctionally higher. American Iinseed
Oil issues. particularly the preferred stock.
were in better demand than for some time on
the publication NJ official reports regarding
the business OF the company
The Sub-Treasurv disbursements on ac-
count Of bonds redeemed were S2O0S. 53l.
making total payments since Nov. IL. sl4.-
627a2o. so far as can be learned no large
amount Of honds will I've turned In tomorrow.
the last day for taking advantage OF the
Trpasury's terms. Tho little furry In money
this afternoon was attributed TO preparations
for the Dec payments.