The times. [volume] (Richmond, Va.) 1890-1903, 1900-11-28
STOCK PRICES
ON LOWER LEVEL
fractional Net Changes Give No Idea
of the Wide Movement.
HEAVY SELLING TO TAKE PROFITS
Market Was Generally stormy in Early
Dealings and Was Borne Down by
Very Sharp Reaction-Bonds
Active and Higher.
{ny Associated Pfcss.)

NEW YORK, Nov 27.-selling to take
profits again overcanle the mrket TO-DAY.
and the general level OF prices IS lower
thdn ii was last night. Inc days net
changes, which are fractional except IN
r. few stocks, give no idea OF the VICE
movement OF prices during the DAY, nor
ot the notable strength shown at tunes ny
q few stocks.
This is due to the fact that the market
was generally strong in the early deailnes
and was only carried below last hsn. 3
level By a very sharp reaction, "hlch
also reduced the gains OF the strong
stock The notably suronG points were IN
The coalerS. Southern Railway preferred,
Baltimore and Ohio, Southern Pacific ana
the American Smelling stocks. Inc move
ment in the coalers was helped by the
Wintery weather reported.
The movement caused the revival OIL oia
TunIorS OF consolidation or exchange OF
control, the effect being notably manifest
In New Jersey Central which rose u
points to 1i9. reacting ~ me business
IN the group was small, except III lle
Headings. (which reflected very heaNy ana
concentrated buying. The first preferred
rose at one time rs, and closed a point
lower. Large buying continued in South
err Hallway preferred. ana rGlnors CON
unued of coming increase OF dlVloend
and q dissolution of the voting trust
This was the only stock, except Denver
and Rio Grande. of yesterdays strong
group which held out to-day.
The American Smelling stocks rose 2is
and la4 for the common and preferred on
Tx of the absorption of the principal
competing interest International Power
rose points without explanation.
Shortly before the close very large buy
ing OF Southern Pacific came into force
the individual transactions running from
one to six thousand shares, and lifting
the stock points. During the early part
OF the day, while the general market was
strong. the steel and copper stocks We're
weak. The steel stocks showed a DISPOSE
tion 10 rally, especially Steel and Wire,
which got above at one time. The
stock closed unchanged. Amaigamated
Copper was very heavily sold, and late in
the day fell 10 94iis and closed With "a
net loss Of x.
The general reaction in the market was
not accompanied by any unfavorable de-
velopment in the general conditions, but
TO disappointment of some speculative
expectations. The principal of these was
that to-day'S London Stock Exchange
settlement would develop very heavy
short interest in Americans. On the con-
trary, il was shown that quite a large
long account existed in Americans, and
account.
Conditions in the money market con-
tinue very easy, in spite of the gain by
the Sub-Treasury from the banks on
routine operations and the approach OF
the monthly settlement period, which
usually makes demands on the money
market.
The bond market was active and prices
were higher Total sales, par value,
S:S,N75.ooV. United States rs declined u
and the new and old as advanced Il on
the last call.
The total sales of stocks to-day were
934, 800 shares.
MONEY AND ExCHANGE-Mone on
call steady at 3l4d4 per cent; last loan
at 1 per cent; prime 1nercantit1 paper,
41aaj per cent. Sterling exchange easier.
with actual business in bankers bills at
S4.Soi4 for demand nd at Si.Sli@ai SIS for
sixty days; posted rates. S4.S2la and
81. $751;; commercial bills, 81. S034 o.. S114.
Silver certificates. 64a6J: bar silver, Gag
G4Is; Mexican dollars, 30. Government
bonds irregular; State bonds strong: rail
road bonds strong.