The daily morning journal and courier., 1899-11-15
FtmaMctul.
THE STOCK M 4 REX E1,
Pricea Trnyarae Qnite a Wide '

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 prospects continued the dominant influence in the trading. The events of yesterday had turned nearly all the traders on the floor to the bull side and the market opened with an
 upward movement of prices which ex-
 tended to a large fraction on the aver
 age before 8 reactionary tendency de-
 veloped. Continued buying by London
 helped on the advance and there was
 special strength in number of indi-
 vidual stocks, notably in General Elec-
 tric, which rose an extreme four points
 on rumors of an extra dividend, and
 Consolidated Gas which was up at one
 time 3 points on a periodical rumor of
 settlement of the local gas war. There
 was a continuance of the heavy ab-
 sorption of Southern Pacific, which
 gave a healthy tone to the railroad list
 Profit-taking sales in this stock were
 detected at an early period of the trad
 ing and had not little to do with
 checking the general upward tendency
 The decisive influence in turning prices
 downwards was the realization that
 yesterdays easing of the money rate
 was due to a sporadic supply of funds and not to any radical change in the
 conditions Of the money market. A
 large portion of the funds loaned yes
 terday were attributed to a cash depos- bxr &1,
 pose of taking up an old underlying is sue of bonds. This supply of money had the effect of offsetting the calling of loans for the banks made necessary
 by the depletion of reserves and pre- vented the stringency of the money market, which had been feared. The effect was manifest to-day as well as yesterday, the rate for call loans not going above ' per cent, and ruling generally below that. But the sterling exchange rate showed a quick response to this seasing of the local money rate and moved an additional fraction up- wards away from the gold import point. This caused a cessation of the talk of immediate gold imports, on which was based the upward move ment of yesterday in stocks. Thus the hope of relief by an inward move- ment of gold had to be abandoned for the time Meantime the absorption of funds by the subltreasury and the probable continuance of demands from the interior have still to be reckoned with Encouragement overcame the operators and they proceeded to sell out their holdings, wiping out the earlier gains and carrying the price below last nights level. Considerable specu- lative activity is diverted to the cotton where the development of foreign demands indicates the relin- quishment by foreign buyers of their attitude of waiting for lower prices. As bearing 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 accommodation 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 move merrt in cotton will, naturally result in the early release of funds in the south and hasten the return flow of money from that region.
 Prices of bonds moved somewhat ir- | regularly in sympathy with stocks. To- al sales par value s2,030,O00.
 United States new 4e and 5s advanced | s in the bid price.