Evening star., 1899-11-16
Stocks Were Buoyant on Prospect
of Easier Money.
REALIZING ON The ADVANCE
treasury Offer Brought Out Big
Blocks of Bonds.
GENERAL MARKET REPORTS
Special Dispatch to The Evening star.

Special Dispatch 10 The Evening star
NEW YORK, November l6.-The some
what unexpected announcement that the
treasury would buy bonds up to S25"rO .o,0
par value had decided influence on spec
native sentiment this morning London
sent over a range Of prices considerably
'poNe those recorded here at thu close Of
yesterdays business. The gains I'm the
achNe Issues here varied from one per cent
IN the railroads to four per cent in the IN
dlstrial department
Inc larger interests bid prices an during
the opening hour in the hope Of forcing a
general covering movement. but al the nd
vance there was considerable realizing also
fnees shaded of for a time under selling.
'f the latter character but traders and
commission houses. bought on a scale
down.
Early in the day there was a disposition
40 regard the treasury's offer somewhat in
the light of the scheme for anticipating IN
terest and few skepucs predicted that
selves Of the offer.
ihis view was soon dissipatad. bawava-
by very prompt offerings from the Iarsr.
est banking interests. Rumors Of one block
ol slo.oo,o0o to be offered were circulated
uuFlhS the morning. and later in the d.v
over NZ,tetto were said To have b.an a.
cepted and paid for at the slbfreaslIT--
Another evidence Of tho belief I'm the -
IectIFeness OF the scheme was reflected in
plentiful offering Of large sums OF money
AT per cent. Foreign houses offered
money freely, and the street Was given
ample assurances Of the availability of
FUNDS Tor all legitimate purposes.
IN Few instances the recently active
cHques seemed more interested in holding
Pi4SeS lhdIl IN advancing them. Th.. de
hdlld was better and more widely distr.b-
uted tIah Tor some time, and all classes yt
securities found a good market
The traction shares were advanced under
mixed demand, the support In Manhattan
ana Brooklyn Rapid Transit being ver-y
effeCtiV
Sugar was bought with new confidence
and rumcrs OF a considerable movement I'M
II were frequently heard.
southern Pacific was almost stationary
around II during greater part of the dav
while Pacific Mail moved err-tf{calIv ,,D5..,
some realizing and a limited der1,and baS.I
on the declaration Of its regular dividend
one OF the most significant DEVELOPMENT
9l the uay, IN speculative sense, was the
increase in the supply of goSslp relative =,
the iron aud steel stocks Federal 81
octoher statement, was REPORTED g., sb.yy
earnings equivalent To 20 per cent on the
common stock. '
American Steel and Wire common Is
H!Gch discussed in connection with irs earn
lHsS ana dividend prospects. but there -
Ihe memory of last springs disregard for
IactS IN This connection to handicap an A.
vance. Sentiment in all parts nf The Srra.t
Is decidedly improved. and while Il bip n1,r-
ket may not be imminent tho money
scare, the most pronounced deterrent in
I.uthcc, mas been removed as factor for a
uinc. Money must flow to this center fr,r,
natural causes before the treast,r,-'s a.
vice eNhausts its influence or high money
VIII be prominent incident of the cl1sinf,
uouts OF me year. An advance Of > Der
day. 10 "