The age-herald., 1900-11-20
A REACTION IN
 STOCK MARKET Selling Pressure Sent Prices
 Down a Peg or Two THE OPENING WAS HIGHER Downward Course Set in Early in the Session and Was General Through out the Entire List-The Close
 Was Active and Easy.
THE OPENING WAS HIGHER

New York, November 19.-The selling pressure to-day again proved more than the market could absorb and prices are very generally lower as a result. There are a few exceptions both in the railroad and industrial departments, but the strength in these few stocks was not free from an appearance of manipulation by the bulls for the purpose of sustaining the market and encouraging renewed buy ing for the advance. The downward course of prices promptly set in after the market had opened generally higher. Eas- fer money in London and the extent in that market and there were stories ca- bled from abroad of good trunk lines con- solidations showing that the rumor-mon- ger had been regaling the British public with much the same kind of fare as that which had been offered in Wall street for sometime past. The lower prices here in New York attracted buying by the arbl- trage brokers which served as a sustain ing influence on the continued evidence of depression, London turned seller and liquidated very heavily the sales of bal ance being estimated at upwards of 40,- 900 shares. Selling from domestic sources was also very large. The railroads as a rule were most affected and many stand ard stocks were forced point or over be- low Saturdays level. In the late dealings a strong demand developed for Northern Pacific, which carried that stock up 29sc to 68&c. Great Northern preferred rose cas- fly an extreme eight points, but this rally while it affected the market generally and drove the bears to cover, did not hold, long stock coming out on the advance. When the bears perceived this they made a fresh attack and drove prices down again, and while the level of the market did not fall generally to early low point, the closing was active and easy. Amongst the points of special strength should be mentioned General Electric, Metropolitan American Steel and Wire, Colorado Fuel and American Smelling, and for a time Sugar and Brooklyn Transit. The an nouncement of the failureof board mem- Der had some slight effect upon the senu- ment until 1t was learned to be of no im- portance. There was no actual news de- velopment to account for the downward course of prices and it was largely due to technical causes.
 The volume of business in bonds as well as in stocks was considerably diminished, but prices of bonds held firmer than those of stocks. Total sales par value, $3,3050OO.
 U. $. ref 2s and the coupon 3s advanced 14c and new As 1s per cent. on the last call.
 New York, November 19.-Money on call steady at 31s941a per cent; last loan 312. Prime mercantile paper 4Q5 per cent. Sterl- ing exchange steady, with actual business in bankers bills at $4 S41s14. .S4Fs for de- mand and sfS3%@4 .S3B for sixty days. Posted rates S4 S11a@4.S2 and $4.S51s. Com mercial bills $4. .SO94 SO1z. Silver certificates 64Aq65Ac. Bar silver Gle. Mexican dollars 5cAo.
 Government bonds strong, state bonds h. active, railroad bonds firm.
 New York Stock Market.
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