Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-11-19
Heavy Realizing Sales Failed to
Break Prices of Stocks.
PU BLIC FOOLED THE BROKERS
The Latter Had Predicted More
Extended Buying Today.
GENERAL MARKET REPORTS
Special Dispatch TO The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, November 19-Today's
stock market was distinct disappointment
to commission houses, inasmuch as realizing
was substituted for new buying and a
rather commonplace opening took the place
of the spectacular demand indicated y.the
buoyancy of Saturday.
London sent over higher range of prices
advances extending to 1 per cent in some
| instances, but the local market responded
| indfferently to this Improvement For two
weeks the professional element and the
veteran Wall street operators have been
predicting reaction.
The public has refused to heed such sug-
gestions and has bought to an extent never
before equaled At each new level the
warning came from experienced sources
that the pace was too rapid. and must end
in collapse Commission houses We're in
cleasing their orders to buy and new levels
were made in spite of the nagging of the
street. Annoyed by the failure to predict
the market the entire speculative communi-
ty changed front on Saturday and was
literally quoted in all of yesterdays pa
pers as being certain of an enormous busi-
ness this morning and final rush to buy.
The contrary really happened, and the
street is again convinced that 1t is a poor
judge of the public mind.
The public. on the other hand seems to
have learned the art of the business, and
| has stolen the thunder of the profession
ais, to the extent that it deals in the IN
expected. market advertised to advance is
always a good one to sell on, especially
after profits have accumulated for a fortf
night. as in the present case.
The failure to make and hold new high
level today did not materially change the
general character of the market Prices
held he ia
and no one believes that anything more
important than a halt has been recorded.
Stocks were well taken and sharp rebounds
followed every decrease in the presst7fe.
Traders were the principal sellers. and they
were not always long of the stocks sold.
All things considered, a more normal sit
uation has been established by today's mar
ket. Any decline from present prices
should stimulate good demand which will
extend beyond any recent high level. The
danger exists in doing too much in too Iit-
tie time. Northern Pacific was a leader in
| the demand which followed the culmina ton
OF the realizing selling up over 6S under a
big demand. Union Pacific showed an a bill
ity to hold its gain. and the entire Pacific
group has retained its hold on public con-
fidence
The Traction stocks were strong Metro
poitan and Brooklyn doing a little better
than Manhattan.
The latter stock goes into strong hands
on all declines and is expected to become
more prominent later in the week Penn
sylvania and New York Central were
prominent in the rumors of the day, and
some big deals are said to be pending in
which these lines will figure as principals.
The steel stocks were given good support
but had heavy realizing sales to contend
with on every advance.
The American Bridge Company's stock
appeared on the curb for the first time this
morning, and is expected to become pop
ular in that market
Money ruled at 3la to per cent and was
in good supply: Final dealings were She
most buoyant of the day.