The times., 1899-11-29

NEW YORK. Nov. 2S.-Todays stock
market he'd a much more definite tendency
than did yesterdays. q generally steady
tone being noted throughout the market
aEi very pronounced strength being shown
In certain quarters. All the so-caIIed trunk
line stocks were conspicuous in this last re
spect, Pennsylvania and New York Central
being notably strong and active, while
Baltimore and Ohio issues recovered from
their reaction OF yesterday. It was COM
monty and reasonably assumed that the
exceptional strength and activity in this
quarter Of the market reflected coming de-
yelepmsnts CT great weight. There Was
little actual information in this respect. but
the general run 81 current conjecture was
10 the effect that much closer understand
ing aad. perhaps. some more material form
OF alliance. was being arranged between the
great east and wes,bourd lines. Proceed
ing. perhaps. from these premises, there
was some discussion as to the possibility
OF tte passage by Congress at its approach
ing session Of a measure legalizing the
pooling of rraific by the railways
Recent rumors to the effect that the
PenHzy zylvania Railroad would be likely TO
exercise hereafter a potent influence in
Baltimore and OHIO affairs were also re-
Vived and. whatever may be the facts in
the case. all Of these stocks as noted, were
particularly strong. and there were also
substantial advances in Chesapeake and
Ohio and other stocks more or less di-
rectly concerned I'm the stability of rates
The disburs5 5merts Of the first of the month
there vas the ordinary shifting about in
The call loan money market incidental 10
The period, hence rates ruled somewhat
above their mean level of the week
Sterling exchange was steady at The ad-
vance made yesterday. Somewhat mex
pectedly, in view of the monetary situa-
tiOn in London, foreign houses were un-
balanced buyers here TO the extent OF about
la.Co0 shares Of stock Tie London dis
count market continued very firm ana there
was some uneasiness reported as TO wheth-
p the Bank OF Engiand's minimum rate
Of discount might not be advanced on
Thursday. The appreheEsiOns in this re-
spect were not however, particularly eleC-
tive 60 the London market. which Was re-
ported steady in all Of its divisions. chief
~ on account OF the more optimistic views
regarding the outcome Of the South African
situation
or the railway traffic returns submitted
today the most interesting show Wings We're
those Of the Burlington and Quincy, he
Erie and the Reading for the month of o.
gober. An incident OF the cay OF some in
terest was the advance in the rate or di-
yIdend due on United States Leather pre-
feTred Nothing more was heard OF the
recent fantastic scheme for the adjUs menL
Of the cOmpany's capitalization which
matter seems 10 have gone by the board.
Strong features Of the market. aside
from those cited. were Peoples Gas,
Brooklyn Rapid Transit Sugar Refining
and the industrial quarter generally. no
tably the Federal Steel issues. MlnEat-
tan Railway was also notably strong
and active and its course was attended
by rather indefinite reports TO the effect
that al some time in The near future the
road was likely 10 be operated by anO her
corporation. which would guarantee the
dividends on the stock. All Of the lover
priced issues were unusually strong no
tably in the instance Of Duluth South
shore and Atlantic. and Peoria, Decatur
and Evansville. The trading fell away
materially ia volume in the last hour and
the market underwent a general reaction
wholly on account Of the sharp advance
ia tie rates for money on call. The bulk
OF the selling, however, seemed 10 be for
professional account