Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-11-08
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange. Bonds, Grafu.
Cotton, Provisions. Etc.
These Are Closing Sales
Each Day.

New York, Nov. mo such excited
demand fof stocks has been witnessed
on the New York Exchange since the
boom days of the hotation of the secu-
rites OF the new industrial combina-
ttons In the Spring of 1899 as to-day
Kept all departments of the Stock Ex-
change at u fever heat of animation
and activity. 1t is rarely in the specu-
lative world that a preconceived plan
of operations which has been widely
discussed In public results so success
fully as the taking on of long stocks
by professional operators for some
time past i'll anticipation of the large
demand to follow the election. The
effort to discount the result is almost
certain o-overdO Itself, and the flood
of selling to realize often carries prices
down on the very elimination of fa-
vorable event. But the rush to-day to
BUY stocks was so overwhelming as to
absorb all the very large selling with
no great effect. on prices.
The professional operators who have
been taking on long stocks for weeks
past threw over their holdings on an
enormous scale to take advantage Of
the outside demand. The buying con-
tnued with such animation, and spec
ulative sentiment became so buoyant.
that buying for long account was re-
newed on very large scale by both
professional and outside spectators.
The sudden relapse in the money mar
~ASe A'eAN aiidSlA W w WIFI lIlG renewed
outburst of speculation. 1t became
clear that the pinched condition. of Mon
day was the outcome of conservative
safeguards against contingent disturb
ance OF the money market, and funds
were poured out very freely. AS
against the rs per cent. rate on Mon
day, the first loan to-day was made at
per cent, which was the highest of
the day. In the dealings, after needs
had been largely supplied. the rate fell
to per cent. The Exchange market
promptly responded, demand sterling
rising fully " over Mondays nominal
rate. The large transfer of stock own
ership from foreign to American hands
also affected the Exchange market
very materially. In general terms, 1t
may be said that the price of railroad
stocks Is from 11s to 2 points higher on
an average s a result Of to-day's trad
Ing. The movement in Pennsylvania
was very noticeable, even in the days
broad and active market, and North
ern Pacific shared this prominence in
a less degree. The extreme advance in
Pennsylvania was 51a points and in
Northern Pacific 3B. In the industrial
department gains were even more
marked, but the movement there was
far more feverish and irregular. Steel
stocks were in the foreground, and
many OF them advanced between and
points. There was a late reaction in
the market on profit taking. led by SUI
gar on reported cut In prices by rival
refneries. a number of industrials re-
acted between / and points, but in
the railroads the last prices We're only
a fraction below the best, and the mar
ket was in progress of recovery and
closed firm.
The bond market was quite as active
comparatively as that for stocks, and
was also very broad. although the
mortgages with speculative value were
the most prominent. Several OF these
rose from to tx per cent. Total sales
par value, s5,255, 900. United States re-
funding 2's. the old As and 5's adj
vanced u and new As X per cent. on
the last call.
Total sales of stocks aggregated L.
42S, 200 shares.
New York. Nov. 7.-standard oil, 625
@629.