The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1900-11-23
The New York stock Market.

New York. November 21.-Today's
stock market represented nothing more
than the routine progress Of a specula-
tive boom. There was a continuance
Of a large and we'll distributed demand
Tor stocks and there was very heavy
selling TO take profits. The result was
the same irregularity in price move
ment which has been more or less the
rule ever since the present speculative
period began. The profit taking today
somewhat overbore the new buying.
or at all vents the selling movement
showed its creates force towards the
close OF he session, so that the senti-
mental effect in today's market was on
the side of reaction to a greater extent
than on previous days. London felt
the influence and bought stocks in the
American department on a large scale.
Assertions are made that the foreign
speculative public is showing a growing
interest in American stocks, but the
largest part OF the foreign buying is
attributed to the provision making
against the options sold by foreign
dealers. Undoubtedly very large ope-
rations are conducted also in London
on cabled instructions from New York.
1t was perfect natural that the good
market afforded by the large buying
this morning Should be taken advant-
g of to take profits o tn, notable
az liz III III lSSS VI lSSleIudf.
he first hour of the market was flu
riously active and remarkably steady.
the deT2and being fed so freely as to
preclude any sensational advances;
but as an impression began to be made
on prices, the selling pressure was re-
process of the powerful speculative
leaders who are at the ead of the
present movement. Buying was then
diverted to new points, and under COW
er of the notable advance thus achiev-
ed, the realizing was resumed.
The day closed with the market over
whelmed with the volume of realizing,
although there were some final rallies
on short covering, but last prices were
near the lowest, except in the stocks
that a been especially strong.
The grangers were foremost in this
list, st. Paul leading with an extreme
advance of 31h. Atchison common was
very heavily bought at an advance of
23s. Brooklyn Transit n the other
local traction stocks, Louisville, and
at one time, Sugar and Peoples Gas
were also strong points. The Northern
Pacific stocks were naturally prominent
in the r~eactionary tendency after yes
terday's notable advance, and Penn
sylvania was also quite weak. The
steel stocks yielded to increasing pres
sure and closed the day generally at
net declines.
\ The early strength in Union Pacific,
the Denver and Rio Grandes and the
ST. Loui NJ San Francisco stocks
yielded to reaction. The matt
Paper n Bag and Paper stocks were
weak on talk of a strong rival organi-
cation.
The domonstrative publication of a
bullish interview by the most promi-
lent individual operators in the street
was made the occasion for much.of the
profit taking.
Money continued easy n the sub
treasury paid out 81, 600, 900 on account
of assay office charters for gold de-
posted at Pacific coast points from
Australia.
The bond market showed we'll dis
tributed strength on a large volume
of dealings. Total sales, par value,
were 49, 45, 900. United States bonds
were all unchanged on last call. The
total sales of stocks today were 1892
500 shares.