Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-11-15
I MARKETS
FINANCIAL AND COMMERCIAL
sSloe Is aklIelbyl Exchange Bonds, Grain,
Cotton Provisions BIO.


El5 Il. News DIRK, Nov. Il IL. Prices Of stocks
I, aysrsedSqu ia a wild grange during the
I :, d (! thron ghout the list, butt net
Il changes Shfet almost oil fractions and
ttn6sJmaj orit y$S on q the side OF !. losses.
II a. onsyS m arket prospec cts continued the
/: domina ant nttuence / In the trading. The
events Of sterdays had turned nearly
] ailsth sS trade ON the floorgto the bull
I SD leland the market opened with an
sSSupWardSm movement of prices which eSr
tended Il to- a large fraction on the av-
ANeTageS before. a reactl0 hary tendency de-
sy,elopsd. Continueds buying by London
! helped ON the ii dXance, and there was
Il specla Sstrehgt h% In a. number Of indl-
!yidual stocks, nc tablysin General Elec-
\ tric, Will CHI rose an extreme four points
5tonS rumors ~ Of & an extra dividend and
n dated Cas- which was up at one
\ time 3 points on a. periodical rumor Of
a settlement2of!t the local gas war. There
was g. continuance OF the heavy ABSORB
q tlon of Southern Pacific, which gave a
4 healthy tone tto5the railroad list. Profit
( taking. sales in t his stock we're d elected
at an Yearly period of the trading and
L mad not "a little to do with checking the
L general upward tendency. s The de-
:, cieive etnhuencesln turning prices down.
+ arrldsSwasf he retaliation that yester-
days easing of the money rate was due
i TO a sporadi supply of funds. and not
!: 70 any adlcql change in the conditions
OF the money market. A large portion
& or he funds loaned yesterday were at
y IMPUTED ito 20 cash deposit by ono OF
4 the railroads for the purpose OF taking
UP an old underlying issue of bonds.
3 4 his supply of money had the effect OF
offsetting the calling of loans for the
& banks made necessary. by the depletion
&of3reserYes and prevented the strln-
y gency5 offthe money market, which had
( peenIE: feared. The effect was manifest
y to-dayias well as yesterday, though the
y call money not going over z per cent,
and ruling generally below that. Sterl-
Ing exchange rate showed q quick re-
Spouse to this easing OF the local money
X rate, andImoved an additional fraction
& upwards away from the gold import
4 point. This caused q cessation OF the
talk of immediate gold imports, on
which was bnsed the upward move
d ment OF yesterday In stocks. Thus the
hope OF relief by nm inward movement
of gold had to he abandoned for the
time Meantime the absorption of
funds by the sub-trensury and the
probably continuance of demands from
the interior have still to be reckoned
s with. Discouragement oVercanie the
operators for a rise, and they proceed
ed tp sell out their holding, wiping out
the earlier gains and carrying prices
below last nights level. Consldera BILE
speculative activity i9 diverted to cot
ton market, where the development of
q foreign demand Indicates the relin-
quishment by foreign buyers OF their
attitude of waiting for lower prices. AS
benring on the general money situation
IT is important to note that advices
from the South report money In abun-
dant supply there. SO that planters have
been able to obtain accommodations for
holding their cotton for higher prices.
The largely, increased supply OF cotton
s bills In the exchange market In the last
z few days with the movement In cotton
VIII naturally result In the early re-
lease of funds In the South and hasten
the return flow Of money from that re-
glon.
Prices for bonds moved irregularly in
sympathy with stocks. Total sales. par
value, 50. o30, 600
U. $; NEVIS and 5s advanced Ac. In
& the bid price.
The total sales OF stocks were 100000
ehares.
A71Q4.721s.