The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-11-15
PRICES OF STOCKS TRAVERSED
QUITE A WIDE RANGE DURING
THE SESSION
BULL SIDE WAS STRONGER
Tendency in Prices, Which EX-
tended to Large Fraction on
the Average Before the Reaction
cific in Strong Demand.

NEW YORK, Nov. 14.-Prices of stocks
traversed quite a wide range during the
day throughout the list, but net changes
are almost all fractions and the majority
on the side Of losses. Money market pros
poets continued the dominant interest in
the trading. The events Of yesterday had
turned nearly all the traders on the bull
side, and the market opened with an up
ware movement of prices, which extended
to a large fraction on the average before
a reactionary tendency developed. Con-
tinued buying by London helped on the
advance and there was special strength
in number of individual stocks, notably
General Electric, which rose an extreme
four points on rumors of an extra divi
dend, and Consolidated Gas was up 5
points at one time on a periodical rumor
of the settlement Of the local gas war.
There was a continued absorption Of
Southern Pacific, which gave a good tone
to the railroad list. Profit taking sales in
this stock were discovered early in the
season and had not a little to do with
checking the advance.
The decisive factor in turning prices
downward was the realizing that yester-
days ease In the money rate was due to
a sporadic supply of funds and not due
to any radical changes in the condition
of the money market. A large portion Of
the funds loaned yesterday were attri-
buted to a cash deposit by one of the rail-
roads, for the purpose of taking up an old
underlying issue Of bonds. This supply Of
money had the effect Of offsetting the
calling of loans at the banks, made neces-
sary by the depletion of reserves and pre-
vented the stringency Of the money mar
ket which had been feared.
The effect was manifest today as well
as yesterday, the rate for call loans not
going above seven per cent and ruling
generally below that But the sterling
exchange rate showed quick response to
this easing of the local money rate, and
moved an additional fraction upward
away from the gold import point. This
caused a cessation of the talk Of tmme-
date gold imports on which was based the
upward movement of yesterday. Thus
the prospect Of relief by an inward gold
NOV ement had to be abandoned for the
time being. Meantime the absorption Of
the subtreasury and the demand for funds
from the interior have still to be reck-
oned with Encouragement overcame the
operators for rise, and they proceeded
to sell out their holdings, wiping out the
earlier gains and carrying prices below
last nights level.
Cor sidera BILE speculative activity is d.
verted to the cotton market, where the
development of a foreign demand indf-
Gates the REIMBURSEMENT by foreign buy
ers of their attitude of waiting for lower
prices. AS bearing on the general money
situation, 1t is important TO note that ad-
vices from the South report money in
| abundance there, SO that planters have
been able to secure accommodations for
holding their cotton for higher prices. The
largely increased supply Of cotton bills
| in the exchange market in the last few
! days with the interest In cotton, will nat
urally result In the early release of funds
in the South and hasten the early return
of money from that section
Prices of bonds presented some irregu-
larity in sympathy with stocks Total
sales, par value, $2030,00O. United States,
new IS and 5s advanced u in the bid price.
STOCK QUOTATIONS.
Furnished by Charles II. F. Smith 8
change, Pioneer Press building. who have
direct wires to Chicago and New York.
| Closing prices are bid: