The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-11-29
EinanciaI.
THE STOCK MARKET
FURRY in Call Money Induces Selling
Movement.

Movement.
| New York, Nov. 2S-The furry in
call money in the last half hour to-day
| induced selling movement which car
ried prices in the majority Of the list
below last night. Stocks which had
advanced strongly suffered from profit
taking and their gains were much re-
| duced where they were not entirely
wiped out. The market was spotty and
irregular throughout and the mainte-
nance of the price leved was due rather
to cessation Of yesterdays factors of
weakness than to any elements of posi-
tive strength. London, which was a
heavy seller yesterday, was inclined to
buy to-day, on the new account sue
ceeding the settlement. The large
profit-taking in Baltimore and Ohio
stocks was so far digested that those
stocks resumed their advance. IT, S.
| Leather, by comparison with recent per-
formances, displayed stable equilibri-
UNI, and the increase in the dividend
rate on the preferred stock did not
move it over fraction. Yesterdays
aggression upon Sugar was also dis
continued and the stock was strong for
the greater part of the day. When
these conditions were developed an at
tempt was made to inaugurate bull
campaign in the Iron and Steel stocks,
but it proved abortive. The movement
in the Baltimore and Ohio stocks
Pennsylvania and New York Central
was the most conspicuous of the day
and did more than anything else to sus-
tain prices. Chesapeake & Ohio also
rose above it's previous high level
There were notable advances in num-
Der of obscure stocks and some of the
minor industrials Manhattan lost all
its gain before the close Enthusiasm
over Saturdays strong bank statement
was much diminished by the discovery
that the whole strength of the show
ing was due to the operations of one
bank. The renewal of apprehension
over the money outlook was empha-
sized by several developments There
were renewed shipments of currency to
New Orleans through deposits for
transfer at the sub-treasury and New
York exchange at Chicago weakened
suddenly to 20 cents discount compared
with par yesterday. The operations of
the sub-treasury with the banks re-
suited in gain by that institution of
$320,000, in spite of the government bond
redemptions. Yesterdays receipts of
revenues by the United States treasury
exceeded expenditures by $2,154,09y,
more than offsetting the total of bond
redemptions for the day. The further
rise in the London money rate and the
prospect of an advance in the Bank of
England rate on Thursday arouse APP
prehension that London will want
money from New York, which Is likely
to displace loans by Canadian banks,
which have been placed here in large
volume. When these various symptoms
of the money condition eliminated in
the furry In the call loan rate to 10 per
cest. prices turned downward through
the list and the tone at the close was
distinctly easy
The bond market moved in sympathy
with stocks, early firmness yielding in
the late dealings. Total sales par value
were $1,S75,OO0.
United States SIS advanced u and the
old As and new AZ II in the bid price
Closing Prices.
Following are the closing prices reported
by Prince & Whitley, Bankers and Brokers,
81 Broadway, New York, and 10 Center ST.,