The times., 1899-11-23

NEW YORK, Nov. 22.-Today's stock
market was wanting in a definite and sus-
tanned tone, and the trading was again |
chiefly for professional account In the |
early dealings the room traders quite gen
orally took the long side of the account I,
chiefly because OF the favorable disposition /
of the dealings for foreign account here
about $4,000 shares of various stocks ue-
ing purchased by the arbitrage houSes'
Outside interest in the market was again
in very small volume, and the business VI
commission houses reflected no parIlculal
drift Of public opinion. In a general wa!
sneculatiye sentiment was faYorap!y al
facted nv the reasonable expectations that
! Saturdays bank statement Will show very
! heavy accessions to the surplus reserves,
! and further by the general conviction that
! the Presidents message to Congress WI
| contain much that viii have dlsunctiy
! stimulating effect on peoples conhaenoe' {
! Indeed, the anticipatons in TINS lalleI Ie-
! snect are becoming one of the chief fea-
! tnres of current Wall Street discussion
/ and forecasts of the message, and partlc-
ularly its financial clauses, may De h"u
for the asking.
! while the Treasury disbursements on
| account of the bond call are a pra1lcdA
guarantee that the bank reserves on sal,
| urdav will be found we'll above the leSal
! reouirements. today's money market was
| fairly active and firm. Yesterday iaIe
furry in money came most uneXpecIeuly'
and in consequence, there was an carry
demand in the money market this morning
! which at once sent rates above the SO
called legal figures, and they ruled auoNe
that level for the greater part OF the uaS.
1t was to this circumstance, proDapiE' Cnac
the hesitating and uncertain lehuenrS VI
+-fh flh @
was again absence of news OF hnpor lahce'
and comparatively few statements OF ran
wav traffic were submitted Those pup
Iiebed however. all showed handsome ID
croaeee AS was the case yesterday, the
dealings in the standard issues were I'M
tied as were the net price changes
An the Pacific stocks were nrn' as "els
Southern Railway preferred, BallinoIe anu
Ohio and the Atchison issues. The indus
trial quarter showed Irregular changes
General Electric advancing rapidly, WhlAe
The leather and smelling stocks were aiso
firm The particular strength IN General
Electric was based upon authoritative as
sertions in regard to the current earnings
. of The company. but nothing new attended
the movements in the other instances clleu,
, Sugar Refining was the active feature VI
the market as it was also one OF the "sah-
est The special course of this stock was
: dav's reports of the failure Of the nego-
. tiations looking to a settlement OF the trade
! A feature of the days dealings was a rapiC
advance in Cleveland, Cincinnati, Chicago
. and St Louis, on large transactions. Chl
!. cago indianapolis and Louisville issues
I were also strong and there was a sympa
! thetic rise in Chesapeake and Ohio. Th'
!. special course Of these stocks was agai
|. based upon the progress of the plan TO
I concentrating the management Of the com
|. panieg and the course Of the stocks loGa
!. suggested an early announcement IN I'M
/. raenact In addition to this prospect, how
! ever. it is understood that the eontrollln
/ interests in Cleveland Cincinnati, Chicag
1. and ST. Louis have been much gratified G
!. late at the pronounced increase IN the com
/ pany's net returns, which would appear
I. Justify the placing of the stock on a"san
I stantial dividend basis There were no 9th
= ar rarficuI9r features.