The times. [volume] (Richmond, Va.) 1890-1903, 1900-11-27
PRICES RESUMED
UPN' ARD COURSE
The Advance of Stocks, However,
Was Far From Uniform.
BONDS STRONG AND ACTIVE.
Money Continued Easy in New York,
but Hardened in London. Result
ing in Higher Rates for
Stcr,in. Exchange.
nv Associated rccss ,

NEW YORK, Nov. 26-The reactionary
tendency which weighed on the stock
market during the latter part of last
week was distinctly overcome to-day, and
prices resumed their upward course. The
ADVANCE was by no means uniform, the
striklng gains being confined to compare
u'eiy lew stocks. In some stocks the re-
ISSUANCE was not more than enough to
enable them only TO hold their own, while
II small number showed positive weakness
and gave q slight irregularity to the
market.
The course of the market was by no
means determined at once. Bear traders
operated on the short side of the market
lor considerable period after the open
ing. They based their position on the
argument that holders OF stocks were
1nchned 10 sell on Saturday on the
strength resulting from the bank state
inent. but it was not long before they
discovered that they had a small founda-
ton. Rumors We're flying about the
board that prominent bear operators of
last week had taken up long stock again
Notable strength in particular stocks
nelped the market, and the bears were
driven to cover.
Rumors of the Cars death. of threat
eninS complications in China and of inter-
national friction growing out of the
Kruger demonstration in France did not
AID the bears much in forcing lower
prices. London was a large buyer in this
market. sales to that account being esti-
mated at 10000 shares The Southern
Railway stocks were in special demand.
Many rumors We're current of develop
ments In tie company, including an
alleged lease to the Pennsylvania and a
coming increase OF dividend. No authors
tative sanction could be had for any of
these rumorS The common and preferred
stocks advanced an etreme :; points each.
Strength was radiated first to the south
ern group and then to the southwestern,
IN which some striking gains were re-
corded. Both the preferred stocks, on
which dividends are paid or are earned
e-Yo f1y>
which dividend prospects are remote at
the best. We're affected alike These
stocks held a prominent place in the ad-
vance. Gains in the group ran from 1
to nearly ) points. The more northernly
graHSers came into the movement. espe-
ciallv Burlington, but did not show such
marked strength.
The leading specialties We're very
strong. including Sugar and Peoples
Gas. The local fractions showed q good
recovery, and Consolidated Gas was con-
spcuous with a rise of 4G4A. The steel
stocks were decidedly unsettled, Steel
and Wire showing acute weakness at
times Reports were current of serious
controversies between the great COM
binations in the trade. Amalgamated
Copper gave way on accn:.nt of the
1neagre details of the conditions and re-
sources of the company contained in the
statement to the Stock Exchange to Sc
cure admission of the stock to the I'M
listed department. The drop in this stock
and disposition to realize made the
tone Of the closing unsettled. and prices
were below the best, but the gains in the
railroads were we'll maintained
Money continued easy here and har-
dened in London, resulting in higher
rates for sterling exchange.
There was very large buying of st.
Louis Southwestern bonds. The market
otherwise was strong and quite active.
Total sales, par value. S4.130, 600 United
State refundinE SIS (when issued and the
SIS advanced Il and the IS Y per cent on
the last call.
The total sales of stocks to-day We're
904 200 shares.
MONEY AND EXCHANGE.-a1oney on
call steady at 3G3La per cent; last loan
at :; per cent; prime mercantile paper,
41SG:5 per cent. Sterling exchange firm,
with actual business in bankers bills at
81 S.TsdI. S5l-. for demand and at 81 S11a0
Isles for sixty days: posted rates. $.S2W
4.Sols and S4.S6@4. SGla; commercial bills,
s.. $685. IA. Sly Silver certificates. 64G6I;
bar silver, 6s's:: Mexican dollars. so
Government bonds strong; State bonds
Il