The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-11-09
THE MARKETS.
Wall Street Review.

New York, Nov. S.-The stock mar
ket started off this morning on an ap-
parently prosperous and animated
career of rising process, but before
the, trading had ceased this afternoon
the early grains were practically all
wiped out and a level of prices lower
than Monday was established. Var
ious considerations connected with
politics were an influcuce in the early
rise. Thus, the London market WAS
encouraged by the more cheerful news
from the beleagured british forces In
South Africa and prices Of stocks
were bid up in that market The Ber-
lin market was pleased with the re-
port that Great Britain had decided
to relinquish her claims In Samoa to
Germany and one result of this was
to pronsPt Berlin to huv some Amcri-
can stocks. In this country the relief
from the uncertainty II election time
and the hope of an easier nnorcy mar
ket prompted some large buying Of
| stocks, which lifted prices a. the out
set I|ut there were larTyC holdings by
professional operators which had been
bought last week i'm the ;lith that an
outside demand for stocks would de.
Velope and the first hour of the trad
ing was devoted to selling Cf these
holdings on a large scale to take pro-
fits. When it was seen that the buy.
ing demand was not continuing in
force the sagging tendency set in. Eff
! forts were made to sustain prices by
manipulation of special stocks. MEM
bers Of the iron and steel group and
the prominent high priced in1ustrials
being conspicuous. The vin'nnt break
in leather and the heavy selling Of
Manhattan had an unscttliuy influence
on the whole market anl the stiffanng
of the money rate and unelsinpss over
| the future of the money market COM
pleted the discouraEement Of the bulls
| The organized support which has
pushed up leather for several weeks
seemed entirely withdrawn and Il was
allowed to drop by successive stages
to 2S, compared with i0 at the close on
Monday. A sudden rally in the closing
dealings brought the price back to 81.
Manhattan had risen to 1113a when the
statement for the fiscal year made its
appearance, showing a failure to earn
the increased dividends paid on ac-
count of the additional stock by a
margin of S23S, 800 This carried the
price down to 1917 with a final re-
covery of only Il. The iudustrials
showed marked sympathy in this
break and the level of the whole mar
ket fell below Monday, the general
rally being but feeble. The fall in
sterling exchange rate was a ratec-
tion of the hardening money market
here. but it gave no hope of relief by
gold imports, owing to the urgent
money need not only in London, but
at all continental centers. There was
evidence in addition of renewed pres
sure upon New York from interior
points, New York exchange at Chicago
falling from 10 cents premium to par.
New York exchange at New Orleans
also fell to an additional discount. The
The sub treasury showed a credit bal
ance at the clearing house of ever
$4,000 Hopes of relief to the New
York money market from any quar-
ter were thus dsspatoG and the last
hour of the market saw an active
liquidation of stock holdings with very
little demand to meet it, Total sales
6S5, 900.
Prices Of bonds were better sus-
tanned than those Of stocks, but the
days changes worc maintained. Total
sales par value $2.4S0,00O,
L. s. new As and the 5s advanced
is in the hid price.
The range or today : prices for the ac-
tive stocks Of the New York stock mar
kets are given below. The quotations
are furnished The Tribune by j. A RUS
SELL G. co, members of the Consoll-
dated Stock Exchange 40 and All Con-
nell building, Scranton, Pa.
Open High Low Clos
ing. est, est. Ing.
Am. Cotton oil &c. q g. ~ -