The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01

THE STOCK M-4RKE EFT.
Large business Done but Activity Not
Well Sustained.

Well Sustained.
New York, Nov. 30-There was a
large business done in stocks again to-
day, but the activity was not well
maintained throughout the session. The
surface indications were that the large
early business was for London account.
For instance the prices of Americans
advanced in London before the opening
here. This was in spite of the general
heaviness of the London market, due
to the money market conditions and
to the discouraglng news from South
africa But after the opening here
foreign arbitrage brokers were sellers of
stocks and their sales on balance for
to-day were estimated at 10000 shares.
The inference is pretty plain that Lon
don's early advance was on New York
buying, while the genuine London
transactions in this market were on the
selling side. They had little influence
on prices, which went to the best gem
orally after the arbtrage operations
had ceased The influence OF the mid
week interruption of Thanksgiving was
still manifest to-day, and with the ex-
ception of some large buying in some
quarters of the railroad list, the trading
was rather languid, especially during
the latter part of the day A firmer
tendency of the money market and
rise in the call loan rate to IL per
cent. late in the day were also an in
fiuence towards REFRESHING activity.
Preparation for the monthly settlement
may have had something to do with
this development, but the transfer
through the sub-treasury to-day of
$450000 to the interior suggests a re-
currenee of demand upon this center
for interior needs, which would prove
serious drain upon the money market.
The forecasts of the weekly bank
statement indicate a small change in
the cash item for the week past The
loan item is also matter of pure sur
mise. But the rise in the money rate
this afternoon is pretty reliable index
of some impairment in the condition of
the banks. Prices of stocks were af-
fected by this, but there were substan-
tial rallies in spots and the closing was
firm, but not at the best. In the rail-
road list stocks of Southern and South
western railroads were notably firm, led
by Chesa peake and Ohio, which got up
2 IL and closed at the top. The Chi
cage and Alton stocks rose strongly.
The Tobacco stocks were weak on the
withdrawal of important interests. Pa
cific Mail reacted rs The American
Smelling stocks We're weak early on an
alleged projectto organize an opposition
but they rallied strongly and closed
with good net gains the downward
course of Amalgamated Copper was
checked after an early decline and the
stock has net gain on the day The
steel stocks We're rather neglected all
day and they show changes both ways
The bond market was active and
strong with notable demand for Kan
sas and Texas, st. Louis and South
western, Southern Pacific, Union Pa
cifie, Atchison and Reading issues To-
tai sales, par value, $7260,000.
United States refunding twos and the |
fives registered declined IA and the new
fours advanced is per cent. on the last |
call
NEW YORK STOCK M1RKET
Opening, Highest, Lowest Quotation
On the New York Stock Exchange, reported
by Prince & Whitley, Brokers, 10 Center
street, New Haven.
Open. High. Low. Last.