The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-11-20
Stocks and Bonds.


New York, Nov 19.-The selling press
ure today 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 buying for the
advance The downward course Of prices
promptly set in after the market had
opened generally higher Easier money
In London and the extent Of the advance
for Americans prompted some speculative
ventures ia that market and there were
stories cabled from abroad of great
Trunk Line consultations, showing that
the rumor monger had been regaling the
British public with much the same kind
Of fare as that which has been offered in
wan Street for some time past The
lower prices here in New York attracted
buying by the arbitrage brokers, which
served 70 sustain the market, but from
the continued evidence Of depression Lon
don turned seller and liquidated very
heavily. the sales on balance being at
upwards of 5000 shares Selling from
domestic sources was also very larEe.
The railroads as a rule were most affect
Ell and many standard stocks were
forced \ point OF over below Saturdays
level. In the late dealings q strong de-
maud developed for Northern Pacific
which carried that stock up 25s 20 esq.
Great Northern preferred rose easily an
extreme 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 gain
and whie the level Of the market did not
fall generally TO the early low point, the
closing was active and easy Amongst
the points Of special strength should be
mentioned General Electric Metr0pon-
rln American steel and Wire Colorado
Fuel and American Sue,ting. and for
time Sugar and Brooklyn Transit The
announcement Of q failure Of q board
member had some slight influence on sen
t1nent until 1t was learned to b. Of no
Importance. There was no actual news
development 70 account for the down
ward course Of prices. and e was large
s. due To technical causes The inbred
custom Of profess onsl operators 70 take
the bear side Of the market against 4
public bull position asserted itse1. and
there was much solid opinion 10 be head
hat the rise In prices had over-run g.
elf and that reaction was over due.
money ttlrt Se4f ~-Ala4EeA
Cor sigus 81 diminishing resources call
money hardened sishtly. but eas=d CT
again ia the late dealings New Yo-k
exchange az Chicago also fell from q
small premium 70 a small discount The
sterling exchange rate held STEADY IN
sr5te 81 the slightly drmer money rate
here and an easier rate IN LONDON. The
supply n grain and cotton hnIs has he=n
much diminished and exchange reports
9s~En 81 that the hrnness ~ exchange
indicates an accumulation going on for
some purpose, probably subscriptions 20
foreign loans Closing prices oe stocks
were as follows
The volume OF business n bonds as
sen as in stocks was considerably d.
FINISHED but prices u Bonds he'd fruer
han those al stocks. Total sales. rar
siue S5eo United States refinl-
2s and he cou~o~ rs Fv ~eeF
ma new As : per cent an the last call
"a