The daily morning journal and courier., 1900-11-23
 THE STOCK MARKET.
Same Ebb and Flow Yesterday as Has
 Characterised It for Several Days.

| New York, Nov. 22.-There was the
 same ebb and flow in to-day's stock
 market that has characterized it for
 several days past. Neither the begin-
 ming nor the end, however was so we'll defined as they were yesterday. The currents and crOss-currents were very confusing all day and made it difficult to analyze the tone, except during period of pronounced reaction, which developed after the opening and an equally pronounced recovery before the
 close. The close itself was reactionary
 and weak under the influence of vio-
 lent break of A points in American Steel and Wire The stock got up to 51 in the general rally of the market,
 but plunged downwards to 46% in a few minutes and closed about there, with heavy offerings still coming on
 the market. The professional traders in Wall street have worked for some
 time in the faith that they were follow
 ing the bull leaderships of combina-
 ton of forces between the most not able speculator in the street and new CT and almost equally dashing operator
 who made his mark, and a deep one at that in the speculation in steel stocks during the last year and half. The break in the Steel and Wire coming near home to this alleged speculative combination served to unsettle senti- ment very considerably at the close. The bear contingent succeeded in pret- ty well getting the upper hand early in the day The market opened with price currents moving in whirling ed dies. There was continued strong ab sorption in some of yesterdays strong stocks. the local traction and St. Paul being conspicuous. Later strong de- mand developed for Chesapeake and Ohio on buying said to be for Phila delpha account This stock moved up an extreme 2%. But this movement was not sufficient to discourage the profit taking and bear pressure, which had been more or less manifest, espec- ially in the steel stocks, from the open- ing and the whole market fell away without much support to the lowest of the day, the rally was inaugurated in St Paul. That stock was carried to 130 and the other grangers, Sugar, the local traction stocks and General Elec- tric made the readiest response. An effort was made to continue the move ment by bidding up the Vanderblts. But this proved unavailing in the face af 1o ,I,o l>,- Steel stocks. The news of the day was little regarded. Some disappointment was felt at the cessason of yesterdays | heavy demand from London. That cen ter turned seller to-day to the extent | of about 0,000 shares on balance There | was failure of expected heavy demand | for stocks for the west, which was cut | off from wire communication yesterday. The bears were also inclined to make | capital out of the reported dispute the diplomats at Pekin and their tactics were shown in the circu- lation of a rumor that the czar was dead. The fact that these rumors were given some weight, and that the Kru- ger demonstration at Marseiles and the injury to General Roberts had
 
 ment of the market was to large extent on sentimental grounds. The money market showed no signs of any stress from the large speculation, and l was appreciably easier on the large re- 'eipts of Australian gold here during he week. Sterling exchange hardened 'n the large selling of stocks by Lon lon.
 The bond market was notably strong n spots, but weakened at other points Total sales par value $3,515,00O.
 United States refunding 2s when is- iued advanced 1s and the new As F Ter cent. on the last call.
 NEW FORK STOCK MARKET Opening, Highest, Lowest Quotation )n the New York Stock Exchange, reported