The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-11-22
DEMAND FOR STOCKS
Irregularities in Prices in New
York Stocks.
LONDON FELT INFLUENCE
Bought American Stocks on a
Large Scale.

New York, Nov. z1.-Today's stock
market represented nothing more than
the routine progress OF a speculative
boom There was a continuance Of a
large and well distributed demand for
stocks, and there was very heavy selling
to take profits. The result was the ir-
regularity in price movement which has
been more or less the rule ever since the
present speculative period began. The
proht-taking today somewhat overbore
the new buying, or at all events the
selling movement showed its greatest
force towards the close OF the session,
so that the sentiment effect in today
market was on the sids Of reaction to
a greater extent than on previous days.
A comparative measure OF the proht-tak
ing on such days as yesterday and today
IS difficult to fix. but yesterday trad
ing was clearly calculated to influence
an advance because the buying movement
came late and oyercanne the earlier de-
preston. That influence was clear ia g
morning in the large buying orders which
had come into commission houses over
night for execution. London also felt
the influence and bought stocks In the
Assertions are made that the foreign
speculative public is showing a growing
interest in American stocks. but the larg-
est part OF the foreign buying Is attri-
buted 10 the provision making against
the options sold by foreign dealers be-
fore the election, large part OF which
are sun to come due, with very heavy
losses already shown by the great adj
vance In prices. Undoubtedly large op-
erauons are conducted also in London on
cabled Instructions from New York u
was perfectly natural that the good mar
ket afforded d. the large buying this
morning should be taken advantage OF
to take profits on the notable advance IA
prices Of yesterday The first hour of the
market was furiousiy active end re-
markedly steady, the demand being fed
so freely as to preclude any sensational
advances. But as an impression began
10 be made on prices. the selling pressure
was relaxed. showing the careful nurs-
ing process % the powerful speculative
leaders who are at the head Of the pres
ent movement. The DAY closed with the
market somewhat overwhelmed with the
volume Of realizing, although there were
some final rallies on short covering. But
last prices were near 70 the lowest, ex-
cep IN the stocks that bad been espe-
cialIy strong. The Changers were fore
most ia this list s. Paul leading With
an extreme advance 81 81 Atchfson
common was very heavily bought ~ an
advance Of 2sB Brooklyn Transit and
the other local traction stocks. Louis
vile and. at one time. Sugar and Peo-
pies Gas, were also strong points The
Northern Pacific stocks were naturally
prominent III the resctionary tendency
after yesterdays notable advance. and
Pennsylvania vas also quite weak This
Steel stocks yielded n Increasing press
ure and closed the day generally al ret
declines. TIRE early strength in Union
Pacific. tho Denver and Rio Graufes ard
the s. Louis and San Francisco stocks
yielded 20 reaction. The international
Paper and Bag and PAPER stocks were
weak on talk Of a strong rival oTEaui-
eaton The 6eElonstrative publication cf
q builish interview By the mos proTnf-
rent iHdIvidual operator ln the street
was made the occasion for much n the
pr~,ft-taking NoneT continued easy and
the suo-treasury paid oDt <l.e509o0 on &C.
count ~ assay aT.Ce clecks FOR gold de-
posted a. Pacific coast points from Aus
tralfa This swelled The total debit hsi-
arce ~ the s15-trssEury ~ the clearing
houss 70 3 5f1 - IRE undertr-e % she
sterling exchange market continues errn