The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-10-27
New York stock Market

e York, October 25.-Tne move
ment Of prices was irregularly upward
for the railroad stocks, while many in
dustrial stocks. especially Of the most
recent organized companies, showed
SYMPTOMS Of weakness. The movement
Of the market was by puisations, first
one and then another group of stocks
taking UP the advance. There was no
time during the day when the general
level of prices kept company with the
top, the rise in n group giving way
to reaction before the advance was TAX
en- UP by another. Many stocks were
sluggish throughout the day. Prices
g~eneralLy ave way after 2 o'clock I'M
der the pressure of realizing in the
| Leather stocks, which had been the
center OF the speculation all day. The
earlier gains We're wiped out in numer-
GUS in this reaction. The ag-
greSSive advance of the cOalers check
ed the decline and rallied the markt,
but not to the top Level.
The market closed with the brilliant
advance in h coalers still in force,
but with the tendency irregular else
where in the list. The net gains in the
coalers went all the way from a point
IL lin AA111O VI ItIC Aou y
~ in New Jersey Central.
Dealings in the Le,ttner stocks were
again ON an enormous scale, the COM
mon rising at one tIIne to % n the
preferred to S2Is. OtAer points Oh in
dividual strength were Sugar. the
southern group o. railroads, the south
| western group, Iowa ,cLpral preferred,
. Ann Arbor preferred, treat Northern
| preferred, Anaconda and American
Car both common and preferred.
The market opened with a show OF
strength reflected from London, where
the fortnight, aettlement developed
quite a large bear account in Amer1-
cans, SO hat London bought here as
| many stocks as were sold for that ac-
count yesterday.
Large realizing met the advance and
the local traders were inclined to the
bear side. They a some assistance
from the positive weakness Of a num-
Der of stocks in the industrial list.
Stocks having to do with the metal in
dustries were all heavy and Pullman.
General Electric and LaClede Gas de-
| clined sharply. Of stocks of the more
recently organized companies, Ameri-
can Hoop preferred, Union Bag prefer
| red and American Mailing preferred
| dropped from 3 to 5 points on small
transactions. The continued stiffness
OF the money rate, which ruled at 6
per cent. or above, was a discourage
ment TO the DullS. Inc SuQQen QrOp 10
| 4 per cent. late in the day, though not
| of much significance as an index of ac-
tual conditions, helped ON the late rail-
ly in stocks.
The recovery in sterling exchange in
view of the hardness of money here
and the drop in the discount rates in
| London is difficult to explain, especially
in view of the free buying of stocks by
london in this market. There was
some growth of the demand for stocks
Through commission houses in addi-
tion to the large operations for account
of influential speculative combinations
An analysis of the days changes dis
closes however, that the strength OF
the market was decidedly spotty. There
was a good demand for bonds at gen.
orally higher prices. Total sales, pal
value, were S2,110,O00. United State:
new AS registered advanced Ac n tn
coupon &c in the bid price. The tota
sales of stocks were 700, 100 shares.