The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1900-11-16
The New York stock Market.

New York, November 14.-The strik-
ing feature about today's stock a
ket was the decreased volume OF trad
ing. Yesterdays reaction was check
ed, and quite an imposing show OF
strength was made afterwards, but
there was no renewal of the inordinate
buying demand which carried prices up
with a rush all through last week. The
market in fact dropped back into an
affair of ordinary Importance, business
continuing on a large scale compared
with the normal, but the movement or
prices obviously depending on artificial
stimulants.
Yesterdays sharp decline induced
some selling orders from outside
sources this morning, but the powerful
support by the bull pools, who are still
operating for an advance, checked the
decline and secured control of the mar
ket almost Immediately. There was
some small buying for London &C
counts, but it was not a potent factor
in the market. 1t is probable also
that there was some buying from
speculative interests, which have been
watching for q reaction ever since the
election. The buying fell off as prices
rose above yesterdays level.
The most effective movements Of the
day were in Pennsylvania and North
ern Pacific. There were Vagu rumorS
afioat of further deals by the Pennsyl-
vania Company of the same character
as the series of requirements of stock
in other companies earlier in the year.
Accompanying strength of Baltimore
and Ohio, Norfolk and Western and
some of the coalerS was intended TO
give color to these rumorS, but no au-
thoritative confirmation was forthcom-
ing and the stock of Pennsylvania was
highly manipulated all day.
TI-- ~f fn hnf
common and preferred, seemed of O
more substantial character. The state
ment of the condition of the company
| issued by the trustees in dlSSolvlng the
voting trust and the d~esirability of adj
ditional holdings for centralized con-
troll following the dissolution of the
trust offered plausible motives for the
buying.
The movement in the local traction
stocks and in General Electric grew
out of the statements in the annua
report of the Manhattan elevated rail
road company as to the progress being
made toward electrical equipment anc
the friendly cooperation of the Met
| ropolitan Street Railway Company
I The advances extended all the way
from rs in Pennsylvania to 7R in Gen,
eral Electric.
These stocks about measure the di.
mansions of the upward movement
gains elsewhere being for the mos
part in sympathy. Consequently wher
heavy realizing developed in Northern
Pacific and Pennsylvania, which prac'
tically wiped out their earlier gains
and in Manhattan, the whole market
turned weak again and fell back tt
an average level Dol as low as that
of the morning. There was a inal raj
ly, but it was lacking in snap and was
not we'll maintained, the market clos
ing irregular. Pacific Mail, Linseed
preferred and one or two of the stee
stocks were actively r~eactionary.
Call money got up to 6 per cent
again, and the time money market con
tinued firm and rather active. Appre-
tensions of a money squeeze are an in,
f1uence in the more cautious attitude
of the speculation, but the fact that
the public demand for stocks has evil
IDENTIFY been satiated for the time being
is a preponderant factor of the specu-
lation.
The bono market was irregular, ir
tSympathy with stocks. Total sales
par value, were So $40, 900. United States
refunding IS declined Is; the SIS regis.
tered advance Il and the SIS coupon q
per cent. on the last call. The tota
sales of stocks today were 922, 40t
shares.