Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-11-27
Stock List Was Irregular Under Pro
nounced Manipulation.
BETTER TONE NOTED In LONDON
Hlgh-Priced Issues Bid Up tc
Cover Selling.
GENERAL MARKET REPORTS
Special Dispatch to Tho Evening Star.

Special Dispatch TO Tho Evening Star.
NEW YORK, November 27-The restora-
ton of the surplus reserve to about ST., 800. =
coo and reported British successes in South
Africa and the Soudan were responsible
for decided Improvement in early prices
this morning. Subsequent developments
tended to substantiate the belief that Lon
don's improvement was due to professional
manipulation from this side Advances in
the foreign market extended from u per
cent in the Pacific stocks to over per cent
In Pennsylvania.
New York Central was opened up as high
as possible, and the strength in two such
leading investment Issues served to cloa X
the heavy realizing sales elsewhere.
Baltimore and Ohio. for example. was Of
fered down somewhat sharply notwIth-
standing rumors of a plan for unifying its
stock issues. The later official denial of the
plan fell fiat, since the leaders themselves
knew of the difficulties in the way of the
project, which had served to assist the
speculation in the stock
The believers in lower prices were con-
Vinced that the high-prfced investment is
sues We're bid up for the sole purpose of
covering heavy selling elsewhere. On the
other hand the interest committed to high
Sr prices saw in the erratic action of
NeiiiiiOu uIliDlSlaRaDle evidences
Oh dlsapproval on the part of the million
aire clique with the commission house ef-
fort to advance prices.
The failure to settle the gas war is said
10 pe the motive for the desire to halt the
advance. The common stock of the Leather
| company. the speculative foot ball of the
present market, was opened at 20i4, and
almost immedia tely dropped to IA under
very liberal offerings.
This abrupt decline unsettled the entire
market. ana the early gains were subStan-
llalIy cut down during the last half of the
first hour. Toward noon prices became
less irregular, but the demand was almost
wholly in specialties. London sold prob
ably 2o.'D shares on balance and quite as
mucn short stock was put out by the room
Oplnlon on the Immediate course of prices
Is very much mixed in consequence of the
strength demonstrated by the selling party
Inc iron and steel shares were strong
under a good inside demand based on earn
lnSs and the prospects for handsome divi-
bends early in the coming year. Semi-offi-
clal statements of earnings clearly warrant
TINS confidence. The Addyston decision
while generally thought to apply to an al
most extinct form of Industrial consolida-
ton, serves TO keep the more conservative
element out of the Industrial properties.
An advance of Pr per cent in the stock
o. Peoria, Decatur and Evansville was one
OF the features of the day. This stock has
had range of prices varying from 81 TO
81 per share since the LIST Of January. To-
day the price made a new record selling
up TO u. as compared with closing offer
ing of 49, on Friday
Several reorganization committees have
been trying to rehabilitate the property
but with little practical success one of
the local trust companies, said to be reD-
resenting the second mortgage bondhold-
ers and the Illinois Central railroad has
pan winch makes no provision at all
Tor the old stock. This plan was consider
cd to be the most likely of them all, but
todays demand for the stock would seem
10 indicate an opposition plan, One firm
shares a the advance
Taken as a whole, today's market was
one OF the least satisfactory in many weeks
ana showed certain signs of d contest be-
tween the two accounts