The times. [volume] (Richmond, Va.) 1890-1903, 1900-11-21
NOR Her T. AlClFlC
TOOK A BOUND.
Both Common and Preferred Stock.
Advanced More I han Six Points.
PULLED THE WHOLE MARKET UP.
Tho Closing Was Very Animated aud
B.oya,t a, AioIt the Top Level.
Profit Taking in Bond Market
Made Prices GcneraIly Lower.

ny Associated rress.l

NEW YORK, Nov 20-It is not often
that Il movement in the stock mathee
ntiS.iEs the volume and the price move
mcnt of that of to-day In the Northern
Pacific stocks. Occasionally in the past
there have been sales in a single "a? Oh
an imposing aggregate of some OF cue
largely capitalized western railroad sSs-
TENS, of which the floating supply in ,he
Inarlie4. is always much larger than ina
of the more firmly established raiiroao
properties in the earlier settled porlio.is
of the country. but the very TACT OF tne
enormous floating supply of these s'ochs
hampers the price movement
To-dayS sales of Northern racine lou
up, according to the customary approXl-5
mate calculations 1850 shares Tor Inc
common stock and 1000 shares 1o' Tue
preferred stock, total Of 2ii.4oo shaIes.
The common stock rose an extreme VA
and the preferred 6ts. Various causes
doubtless served to conSest the specuia-
ton in these stocks. For one reason lhere
was but lanElid interest in Inc genera
market, and the eager army oil operators
ard Spectators who are watching Ter
Available openings failed to ina any until
the movement in Northern Pacific de-
reloped.
The volume and character of the deal
ings in the stocks, however. precluded the
idea of IL purely speculative operation.
NO authentic news was disclosed TO eX-
plain the movement. such run,ors rs were
heard being prompted rather by the effort
explain DIV guess X II was illSSSu
that il had been determined TO retire the
preferred stock at par. as the company
has the right 10 do under the terms of
its issue.
The favorte theory, however, was that
the buying of Northern Pacific represents
a process of TRANSMISSION of interests be-
tween different transcortinertal railroad
lines. or more Immediately the northern
and northwestern routes. That some inn
Iortant DEVELOPMENT will be Forthcoming
&c ind fa1, HIT no ne he
tape. The movement in Northern Pacific
had a dominant influence on the whole
market. and pulled it up effectually from
the reacionary tendency which had over
borne 1t during the early part of the day.
This was due to the continued heavy
profit-taking and to very large selling for
London account after a. flight buying
movement for that<account in the early
dealings. The profit-takirg continued to
a degree. even after the general tendency
had become strongly upward and some of
the prominent stocks practically failed TO
respond at all.
The movement in the iron and steel
stocks was irregular, and a number of
other specialties which have had recent
notable, advances hung back to-day. As a
consequence The days net changes We're
uneven. and not 81 few declines were
mixed in with the large gains. The con-
spicuously strong stocks besides the
Northern Pacitics We're the Union PaciiicS,
the Atchisons, Missouri Pacific. Denver
and Rio Grandes and the Baltimore and
Ohios Among the industrials and spe-
cialties the Steel and Wire stocks, the
tohaccos. Peoples Gas, Sugar. North
American and International Power were
conspicuous.
After a sharp reaction the Northern
Pacifics rallied, carrying the whole mar
ket with than, and the closing was very
animated and buoyant at about the top
level
t'rofit-taking was in evidence in the
bond market. AMI prices are generally
lower. Total sales, par value. S3.205, 900.
United States is coupon declined j, and
The new As *; old As advanced u per
cent on the last call.
Total sales of stocks to-day were 1926
100 shares.
MONEY AND ExcHANGE.-Mone on
call steady at gas per cent; last loan,
80 per cent; prime mercantile paper,
40 per cent. Sterling exchange steadier.
with actual business in bankers bills at
S4.S4 for demand and at SI.S1 for sixty
days; posted rates. 81. So and 81. S5!a; COM
mercial hills. S4-Soa4. So1.. Silver certif;-
Gates. GiAMS5; bar silver. g. MeNican
,jn