The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-11-29
Dull Day N wall STREET
VOLUME OF TRADING CUT IN TWO.
COMPARED WITH RECENT
DEALINGS
PRICE CHANGES ARE SLIGHT
Market Was in the Hands of Pro-
fessionaIs, Outside Interest Be
ing Apparently Absent
From the Floor.

--AoAASy' 4'On z40lo72 --oI2Iy1
NEW YORK, Nov 2S.-Today's stock
market was the dullest.since the Monday
preceding the elections. There were no
dealings on any considerable scale and
the movement of prices was sluggish and
irregular and not important. The mar
ket narrowed very considerably also, the
number of different stocks dealt in be-
ing smaller than for many DAYS past It
Is not improbable that tomorrow's holt
day prompted the curtailment of specu-
latiVe ventures. The dealings were laft
very largely in the hands of room traders
and the larger interests and the public
were apparently out of the market en-
tlreiy. There was no great pressure of
liquidation, but when any considerable
volume Of stocks was offered, there was
not sufficient demand to sustain the price
On the other hand, even a small demand
was sufficient to effect considerable adj
vance in price, as the selling orders in
the market were also on a very small
scale. The market was very generally
very in the earlier part OF of the day
largely from the influence of the weak
ness in the London market The discIo
sure through yesterdays London settle
ment of long account in Americans is
interpreted as weakening the technical
position of this market and the growing
tlghtneSS of money in London gives rise
to the apprehension that New York may
have to absorb considerable speculative
liquidation from that center In fact, the
selling for London account was estimat-
ed as high as 5000 shares on balances
boIn call money ana discounts in Lon
don are above the bank rate. Under or
binary circumstances this would lead to
the expectation of an advance in the
bank rate tomorrow, but the scarceness-
Of money is due to the preparation for
the eXchequer bond issue on Friday.
When this is met, there is likely to be
ref1ux of government funds into the
money market, which would endanger
the control of the market by the Bank
of England. The action of the govern
ment tomorrow is therefore problemati-
cal. Our own money market continues
unruff1ed call loan rates falling away a
| shade in spite of the. continued ahsorp-
ton of funds on subtreasury operations
and the poStponement of the return flow
of funds from the anterior The recent
Gally average transfer of 100000 to $780,
900 to New Orleans was supplemented by
the transfer of 900 to Chicago through
the subtreasury today. If the activity of
interior business is to make new demands
on New York for more it may upset cal
culations over the future of the money
market This may have prompted some
of the Discrimination TO deal in stocks
! The early heaVineSS Of the market gave
way quite generally in the late dealings
after London had ceased selling. Proba-
bly, covering by room shorts was fac
tor in this movement. The gains were
not all retained to the close, which was
| moderately active and irregular. A num-
Der of October statements of net earn
ings of railroad companies were publish
ed during the day, which were favorable
with the exception of the Reading COM
pany. The net earnings for this COM
pany for. October were 81, 232, 096 less than
for October of last year, as a result of
the miners strike This did not prevent
the stock rising over yesterday, but it
became heavy later in the day. Anal
gamated Copper continued to show weak
ness supposed to be on account of the APP
prehension of unfav0rable legislation in
Montana. The new Chicago & Alton
stocks We're largely bought at advances
Of 29s and 1as for the common and pre-
ferred, respectively. The rubber stocks
were notably weak, but recovered part of
their losses. The bond market was quite
active and yielded in spots. Total sales,
par value, $4055, COO
United States bonds were all unchang-
ed on last call.
STOCK Quotations.
Furnished by Charles H f. Smith &
Co., members of the New York Stock
Exchange, Pioneer Press building, who
York lNlASirler z n hid.