The times. [volume] (Richmond, Va.) 1890-1903, 1899-11-15
WIDE RANGE IN
STOCK MARKET
But Net Changes Were Fractional,
Mainly on Losing Side
MONEY DOMINANT INFLUENCE.
urolizafion That Yesterdays Easing
of Rate Was Due toa Sporadic
Supply of Funds Turned
Prices Downward.


NEW YORK. Nov. 1i-Prices OF stocks
fra,erscd quite wide range during 'he
a., throughout the list. but net changes
hre almost AN fracio ms. ana the MAORI
tv 0n the side of losses. Money market
rr,spects continued the dOminantne inilu-
cncc in the trading. The events OF yester-
day had turned nearly all the traders
ON the floor 10 the Dull side. ana the
market opened with an upward move
mcut of prices which extended 10 large
fraction before "a reaCtiondry tendency de-
velODcd. Continued buying by London
hclpod on the advance. and there was spc-
cial strength in "a number of individual
stocks. notably in General Electric, which
rose am extreme . points on rumors OF
am extra dividend. and Consolidated Gas,
which was up at one time points on
periodical rumOrs of settlement OF the
local gas war
There was "a continuance Of the heavy
absorption of Southern Pacific. which
gave "a healthy tone 10 the railroad list.
Proht-taking sales IN this stock were de-
fcCfcd af am early point, and had not
little to do with checking the general up
ward tendency. The decisive influence in
turning prices downward was the raiza-
tion that yesterdays easing of the money
rate was due 90 sporadic supply or
funds and not to- any radical change i'm the
conditions Of the money market \ large
portion Of the funds loaned yesterday
were attributed 10 a cash deposit by one
OF the railroads for the purpose or taking
UP am old underlying issue of bonds.
This supply of money had the effect
~ Of-setung the calling OF loans lot me
banks. made necessary ny thc uepleIoH
Of reserves and prevented the siringency
Of the money market which had been
feared The effect was manifest to-day,
as wcll as yesterday. though the can
money not going over Z per cent, ana
ruling generally below that.
sterling exchange rate showed QUICK
response 20 this easing of the local money
rate. and moved an additional fraction
upwards away from the gold-import
point This caused "a cessation Of the tax
of immediate gold imports out OF which
was based the upward movement Of yes
terday in stocks In this tho hope OF re-
lief hv am inward movement of gold
had 90 be abandoned for the time Mean
time the absorption Of funds by the sub
Treasury and the probable continuance
Of demands from the interior have still
10 be rcck0ncd with Discouragement
CvorCamc tho operators for rise. ana
they proceeded 20 sell ont their holdings,
WiDinr out the earlier gains and carving
prices below last nights level Considora
bic speculative activity is diverted 10 the
cotton market. where the development Of
n foreign demand indicates the relin-
ouiehmout hv foreign BUYERS Of their at
titude ~ waiting Tor later prices.
As bearing on the money situation. II is
important 20 note that adviCcs from the
South renort money I'm abundant supply
there 90 that planters have been aple 10
OMAN
cotton for higher prices The largely i'm
creased supply of cntton bills in the eX-
change market in the last few days with
the movement I'm cotton will naturally re-
euu i'm the carlv release Of funds In the
Soufh and hasten the return flow Of
money from that region.
Prices for bonds moved irregularly IN
sympathy with stocks. Total sales. par
value g. 02O ono. United states new s
and sc advanced Is
Total sales Of stocks were Zoo shares,
Including Atchizon preferred 1741j. Chi
car0 Great Western q go Chicago. Bur
lincton and Quincy 1000 DenvV and Rio
Cr7nde preferred M. IouisNle ana
Nashville 10T0. ST. Paul. G.4l7' .Nuthern
Pacific 100 orc. Southern railway pre-
ferre7 $40. Union Pacific S5Sj. Ameri-
can Tobacco. 500: Brooklyn Rapid
Transit &c go. Continental Tobacco.
e. 90. Federal steel 800. General Elec-
trio. 2-e: Pacific Mail 51C0. Sugar o.
90. United States Leather, 1880.
MONEY AND NEUTRALITY-SUSPICIOUS. on
can firm AT G0S nor cent. last loan M
pcr cent prime mercantile paper J05%
ier cent Sterling exchange Grm with
sctual business I'm bankers bills ~ 50 81
49, o-iA for demand and al 81 II
lhr sixty d9vs. posted rates. SSlis0t 90
rrd e. $50 efN. commercial bills 50 SOW.
Silver certificates 5od0o. bar silver 5S/;
Mexican dollars Az. Government bonds
strong: state bonds inactive; railroad
bonds irregular.