The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-11-28
OUT FOR THEIR PR(F|TS
AND THE RESULTANT SELLING
CAUSES CLOsING PRICES
TO sAlA
DAYS BUSINESS WAS HEAVY
A Total of over az AIaIlion Shares
Being Recorded as So1d-south-
ern Pacific Strong on
Large Dealings.

Bar silver New York .........64M 63M
Call money, New York .37z-4 1874
NEW YORK. Nov. III Selling to take
profits again overcame the market to-
day, and the general level Of stock prices
is lower than it was last night. The
days net changes, which are fractional
except in q few stocks, give no idea of
the wide movement of prices during the
day nor Of the notable strength shown
at times by few stocks. This is due
to the fact that the market was general
ly strong in the early dealings and was
only carried below last -nights level by a
very sharp reaction, which also reduced
the gains Of the strong stocks The no.
JabIy strong points We're in the coalers,
southern Railway preferred, Baltimore
& Ohio, Southern Pacific and the Ameri-
can Smelling stocks: The movement in
weather reported. The movement caused
the revival of old rumors of consolida-
ton or change of control the effect being
notably manifest in New Jersey Central.
which rose 3 points, to las, reacting ~
The business in the group was small eX-
cept In the Readings which rejecting
very heavy and concentrated buying. The
first preferred rose at one time 2% and
closed point lower. Large buying con-
unued of Southern Railway preferred
and rumors continued of coming in
crease in the dividend and dissolution of
the voting trust This was about the
only stock except the Denver & Rio
Grandes of yesterdays strong group
which held out today. American Smell.
Ing stocks rose PA and IA for the com
mon and preferred on talk of the absorb
ton of the principal competing interest
1nterrationa Paper rose 4 points with
out explanation. Shortly before the close
came into force, the individual transac-
tlonS running from / to 5000 shares. and
lifting the stock 2 points during the ear
~ part of the day, while the general
a 1CJ Ctr
stocks were weak The steel stocks
showed a disposition to rally, especially
steel and Wire, which got above "A at
one 91,s time, The stock closed unchanged.
SOLO, and late In the day fell to 94M and
closed with net loss of H. The gen
eraI reaction in the market was not ac-
compan1ed by any unfavorable deyeIoD-
ment in the general conditions. but fhe
disappointment of some specuIators
some Of them thought thatsto6 avs Lon Ion
STOCK exchange" settlement would develop
d very heavy short interest in Americans
On the contrary, 1t was shown that quite
large long account existed in An1eri-
cans; and that London sold stocks here
a ass,! rre new account. Another speculative
assumption was that wChicago and the
west mad been prevented yesterday nv
the interruption of wire -co1nmunica lions
rom rom ouy1ng very largely, but the op-
vantage Of. Conditions in the money
market continue very EASY in spite of
Ine gam by the subtreasury from the
banks on routine operations and the o1r
pToaeh of the monthly settlement period.
when usually makes demands on the
money market The action of the monev
and exchange markets in responses to
Lon ho4dons operations in stocks suggests
6nat London's speculative operations here
are pelng carried with local money mar
ket facilities. Thus today's selling bv
LONDON had no effect on the exchange
marker, which was lower in spite of fbe
high rate in London. The easier fen e
q fe ti OF the local money might be due
Top aIe r fasi OF funds caused by the
w Ine bon bond market was active and prices
W were ere higher. Total sales. mar : val1Ie
$S075, coo United States IS dec1ine guy N
the last call " Oh
STOCK QUOTATIONS.
= Furnished by Charles H. F. Smith g.
70 10, members of the New York Stock
ihXchange, Pioneer Press building. who
nave nave direct wires to Chicago ana New
YORK: Closing prices are bid: