Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-11-28
FINANCE AND TRADE
Stocks Were Irregular and Lacking
in Sustained Demand.
MANIPULATION In SPECIALTIES
Sharp Advance in B. and o. on
Rather Vague Runors.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, November 2S.-The irregu-
lar room trading which made UP yester-
days stock market was again the chief
characteristic of todays transactions. Lon
don sent over a fractionally higher range
of prices and these cables helped to secure
a better opening in the local market. 1t
became evident very early in the day that
commission house business had dwindled
below the proportions necessary to make it
an influence. Specialties were taken up by
the various inside interests and al lof them
responded easily.
The willingness to advance was evident,
but the demand failed to invite any consid-
cradle following. The room has argued for
several days that the larger interests did
not want the public to come in at this time
since such action would hamper the very
satisfactory manipulation now being en-
ployed. There would seem to be very little
apprehension warranted on this score.
The public is busily employed in other
directions just now, and will scarcely
thrust itself into the stock market. If the
public is wanted before the second week
in January, inside interests WILL In all
likelihood, be put to devising some very
attractive form of special inducement. The
public knows what the call money rate Is
familiar with railroad earnings and CONSOLE
datiOn schemes.
The promises of the Industrial promo
tiers are more clearly remembered by the
publlc than by those making them. very
Weil-informed public Is to be considered
Liquidation is no longer such a simple
matter as recent drives at the market
clearly demonstrate. Public confidence in
that returns from investments already made
and from commercial enterprises must pre-
cede any promised general inquiry for
stocks
Meanwhile there will be ample oppor-
tunity for special movements in a variety
of issues Sucn a movement is now in
progress in Pennsylvania. This stock was
opened up over per cent yesterday, and
lost about half of IT under realizing. Today
the best price of yesterday was duplicated
under exceptionally good buying An in
crease In the dividend rate is predicted the
buying OF important feeders is a possibility,
but as yet the real reason for the sudden
awakening to the value Of this property has
not been disclosed.
Any change sanctioned by the manage
nent is certain to be made in the interest
of stock holders Confidence of this charac-
ter IS worth a considerable premium on any
stock irrespective Of Its dividend rate.
Baltimore and Ohio issues were eXceD-
ticnaliy well taken throughout the day and
in this connection some important future
development Is predicted
The Steel stocks We're uniformly strong
under large earnings and the daily reports
OF new business, General Electric, Ameri-
can, Smelling and the less conspicuous in
dustrials gave some evidences of being
taken In hand for special reasons
An Increase of ii of / per cent in the
dividend on Leather preferred tended to
confuse the situation in regard to those
shares.
The final hour was less professional than
It's predecessors, and the close gave evil
dence of desire to cover early sales Ru-
mors that the Vanderbilts and Pennsvlya-
MIA interests had bought control of Balti-
more and Ohio helped the advance.