The times. [volume] (Washington [D.C.]) 1897-1901, 1900-11-13
ADVANCES NOT CHECKED
Buying Active in Spite of Exten-
siye Liquidation.
Market Fairly StacEers Under
Weight Of profit-Realizing Sales
Rises Caused by the Influence of
Lfmitlcxs Observation-Disclosures Dis
tributed Throughout all Quarters.

NEW DIRK, Nov. 12.-Tbere were nc
changes of any consequence in the days
Developments in the stock market and the
mornings new brought with it no strik-
ing developments of financial Importance.
The trading was as exclusively governed
by the results of last Tuesday as were
those of last Wednesday. Indeed, 1t show
ed many points in common. The dealings
did. indeed. show liquidation, which was
in simply immense volume, so heavy, in
fact, that from time to time the market
staggered updcr the pressure, only to re-
bound again when II, apparently insatia
BILE demand for securities showed itself.
Notwithstanding the liquidation. which
seemed to be largely professional in char
acter, actual Investment buying was not
ed in exceptional measure in many quar-
tiers of the market and particularly in
the higher graded stocks. This buying
appeared and was reflected in stocks of
the class Of Pennsylvania New York Gen.
trail, Consolidated Gas, the granger shares,
and others whereof it may be predicted
that ere long they will cease to furnish
satisfactory objects of speculation. But
for the substantial buying OF this charac-
ter, which was also, of course, accompan-
led by speculative purchases, it would
have been impossible to account for the
striking results shown in tOday's market.
1t need hardly be said that the amaz-
ing results shown in the standard issues
were paralleled and exceeded in other
quarters of the market There was a ire
mendous and well sustained demand for
stocks of the grade of the Atchison is
sues, Southern hallway preferred. Ncrfolk
and Western, and Missouri, Union and
Northern Pacifcs.
In fact, unless the prevalent specula-
tive enthusiasm be borne in mind, the
dealings in the stocks Of this grade might
almost be ciassed as sensational. Apart
from the railway list the overflow of
speculative activity was expressed in
many pronounced advances among the
industrials. the specialties, and the local
traction group. The last named recoy-
cred from the comparative depression
under which they have been for some
days past, and advanced rapidly.
Among the specialties Peoples Cas-,
Tennessee Coal and Iron. and Colorado
Coal and Iron were heavily dealt in at
rising prices, but with nothing that was
particularly definite attending their
course apart from considerations of their
earning power as likely to develop under
the changed conQltl0nS IN winch snpSe
concerns will be hereafter operated. 1t is
hardly necessary to add that as regarded
the remainder OF the market there was
virtual absence of news or gossip bearing
upon particular stocks. Sugar refining
was particularly strong and active. All
Of the stocks classed as the steel INDUS
trials were in strong demand, as were
United States Leather and American and
Continental Tobacco.
Pacific Mail broke with decided rapidity
in the forenoon but without any particular
reason unless 1t might be found In the
abandonment of the idea that a dividend
would be declared upon the stock tomor-
row. Foreign houses dealt very heavily in
the local market and on both sides Of the
account. the apparent balance Of their op
erations amounting to sales Of about 30. 600
shares. As has been the case for a week
past, however, the dealings for foreign
account were altogether submerged in the
enormous local speculation.
There was little abatement of activity
with the course of the day. the trading
continuing along the same lines up to the
close. A feature Of some interest was
Western Union, which showed more ANNA
tion than for many weeks and advanced on
reports that the company was arranging
a settlement OF its protracted dispute with
the Chicago Board of Trade in regard to
furnishing the grain quotations made at
that point.