The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-11-27
Financial.
THE STOCK MARKET.
Prices Resume Their Upward Course
but Not Uniformly.

| New York, Nov. 26.-The reactionary
tendency which weighed on the stock
market during the latter part Of last
week was distinctly overcome to-day
and prices resumed their upward
course. The advance was by no means
uniform the striking gains being con-
fined to comparatively few stocks. In
some stocks the resistance was not
more than enough to enable them only
to hold their own while a small number
Of positive weakness gave slight ir-
regularity to the market. The course
of prices was by no means determined
at once. Bear traders operated on the
short side of the market for a consid-
cradle period after the opening. There
were rumors flying about the board
early that prominent bear operators of
last week had been taking up Ions
stock again. Notable strength in par
ticular stocks, accompanied by rumors
of changes of control, helped the mark
ct, and the bears were finally driven to
cover While the strength in the mark
ct was renewed, there was by no means
The large valume of business which has
been the average for over two weeks
past Bear manipulation was evident,
not only here but in foreign markets,
London was a large buyer in this
market, sale to that account being es-
timated at 10000 shares The Southern
Railway stocks were in special demand.
Many rumors were current of the de-
velopments in the company, including
an alleged lease to the Pennsylvania
and coming increase of dividend. No
authoritative sanction could be had for
preferred stocks advanced an extreme
points each. Strength was radiated
first TO the Southern group and then to
the Southwestern in which some strlx-
ing gains We're recorded. Both the pre-
ferred stocks, on which dividends are
paid or are earned, and the low priced
common stocks for which dividend pros
poets are remote at the best, We're af-
fected alike. The weekly earnings re-
ported to-day on some Of these systems
showed sharp decreases from last years
corresponding period, notably in Mis-
souri, Pacific and Denver and Rio
Grande. Nevertheless these stocks held
a prominent place in the advance
Gains in the group ran from l to near
ly points. The more northerly grang-
ers came into the movement, especially
Burlington, but did not show such
marked strength. The leading special
ties We're very strong, including Sugar
and Peoples Gas The local fractions
showed a good recovery and Consolidat-
ed Gas was conspicuous with a rise of
Az The steel stocks were decidedly
Steel and Wire showing acute
weakness at times. Reports were cur
rent of serious controversies between
the great combinations in the trade.
count of the meagre details of the con-
ditions and resources of the company
In the statement to the stock
exchange to secure the admission of the
stock to the unlisted department. The
drop in this stock and a disposition to
realize made the tone of the closing I'M
settled and prices were below the best,
but the gains in the railroads were well
Money continued easy
here and hardened in London, resulting
in higher rates for sterling exchange.
There was very large buying of St
Louis Southwestern bonds. The mark
ct Otherwise was strong and quite ac-
tive. Total sales par value, $4,130.OOO
United States refunding 2, when is
sued, and the 5s advanced u and the
Be- q per cent. on the last call