The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-11-25
STOCKS ANn noNDs.

New York Nov. 24-The stock market
to-day showed divergent movements Of n
few Of the Industrials and a handful Of
railroad stocks. A few conspicuous rail-
road stocks pursued an upward course,
while the Industrials were on the down
grade. The movement IN the railroads
proved rather more influential on the gen
eral list than that in the Industrlas
The undertone Of the market was IN
mistakably strong. and In the latter part
OF the day the strength became more gen
eral PToht-taking before the close r.
duced prices from the best In the body
of the active list net changes are surprls-
1ngly smaH, aud while The majority ere
gains. there are important exceptions on
the side Of losses. The Baltimore and
OHIO stocks were the center of interest.
The buying of these stocks was large from
the opening, but as the Closing hour APP
preached the dealings assumed astonish-
ing magnitude. Blocks of many thousand
shares Of the preferred succeeded each
other In quick succession ard were deter
minedly absorbed on a constantly rising
price. The DuOyancy of the stock carried
1t up an extreme 81 points. and the clos
ing was only slightly below that The net
gains in the common was rs. There was
a heavy demand for Union Pacific, but
profit-taking met the advance above 81.
and its net gain was only slightly over a
point. Dealings in Pennsylvania were on
an unusually large scale and IL rose an
extreme "a, with a reaction of H. Hook
ing Valley stocks gained over point each
on the declaration of the first dividend on
the preferred
There was a feverish speculation in Con-
sSlidated Gas before the announcement Of
the determination not 10 advance the price
of the product. thus recessltatirg the con-
tinuance Of the destructive rate war. The
stock sold up ~. md then re,apsed 81 and
q .gGaA al q fractional no n
satioual collapse in Leather came after the
rise 10 p. From that point the stock sold
down without any attempt al support 10
1sa4- A fierce and stubborn contest was
Waged around l9, from which the support
ers OF the stock emerged triumphant aft
er absorbing The deluge Of offerings. There
were come evidences Of strength here and
there amongst the Industriais. notably in
the iron and steel stocks and Continental
Tobacco locks A considerable demand was
due TO the efforts of the short interests
20 cover over the approaching double hol-
iday.
Reports Of British successes IN south
Africa were used with some effect by the
bulls. although London was a seller on
balance IN this market. s.. PauFs third
week statement showing an Increase of
nearly $4,000 over last year. and other
favorable railroad statements had
Strengthening effect on the list. as did the
the dividend list, wi h the declaration Of
the FIRST division OF - per cent.
The principal influence IN tO-days trad
ing was the expectation that the bank
statement tomorrow viii make a strong
showing, and thus give an impetus 10 spec
u.ation on Monday The sub-treasury op-
eratious for the week show a gain by the
banks Of T,sZ7 900. As the loan expansion
does not seem to have been large. a very
considerable recuperatlon Of reserves thus
seems assured.
There was a good absorption Of bonds at
advancing prices. Total sales, par value.
s2.le0@1. United states IS ard new IS
advanced y IN TIE bid price.
The total sales Of stocks were S33 800
shares, including burlington, $50; Atchi-
son prc 'erred. 1850; Baltimore and Ohio
22es9; Cleveland. Cincinnati Chicago ana
St Louis, 7470; Manhattan. 1856:
Missouri Pacific 500; New York Central
3 geo: N5rthern Pacific 1900; Pcnnsylva-
mia, 22.351 Reading first preferred 1900;
Southern Pacific, H.7J0; Southern Railway
GOO; Southern Railway preferred, 10,273
Union Pacific. S7S7; Union Pacific prefer
red. 1900: American Steel Hoop. 8 $50;
American Tobacco Polio; Brooklyn Rapid
Transit, lO1l0; Continental Tobacco. 1880;
Continental Tobacco preferred 9,GG0; Fed
eral Steel. q. 100; Sugar 30. no: Peop,e's
Gas, 965e; North American. G490; Leather,
l67 100; Leather preferred. Sis.
New York Stock Tdqt