The times. [volume] (Richmond, Va.) 1890-1903, 1900-11-17

STOCK MARKET
NOT ABLY STRONG
There Was Steady Absorption of Is
sues of Best Character.
THE PRICES MOVED UPWARD.
Some Selling for Profits Was INDUCED
IN Toward the Close. but Effect on
Prices Was Slight, aud Close
Was Active and steady.
fBy Associated Prcss.)


MN YORK. Nov. 16.-Althouea to-
Gays business in stocks did not recover
10 the full measure of last weeks III
point OF volume, the tore OF the trading
aho the showing of strength We're the
n'oS imposing and subSanilal that have
oesn made since the election. The lev
sT1sn and sensational moremfnt in iso-
istso Stocks and the inoiscrlminate rush
40 ooy n a lump We're not shown to-day
!Iasseao. there was a steaoy and persis-
character, with Iegiunite speculative
prospects Of increased earning power or
Increased security by reason Of added
earnings for JUNIOR securities.
In the early dealings The speculation
showed s, disposition 10 look tor leader
snip. and the powerful leaders were al
naild 10 ina1gurate inviting advances IN
prominent stocks IN almost every distinc-
I'VE group on the exchange The absence
OF reaHzing pressure as the advances
we're easily made encouraged the growth
OF the demand, and strength was dis
semlnated all through the list The East
IaLoer conspicuous exceptions, and We're
not largely traded in nor widely moved
OUT there was no important exception to
INC upward course OF prices. and among
me stocks of railroads all through the
Seutn and West, including the trans
continental lines, the strength was aston
ashinGly uniform.
There was scarcely a railroad stock
traded in within those limits that did not
gain at least point Not a few rose. ,
points or over, while the Burlington and
:Atchisoa preferred gained. respectively,
sas and Sls. The soft coal roads also
made assood show of strength The pre-
ferred stocks of the reorgan:zed rail-
reads We're evidently the taVorites in the
speculation from the way one after an
other Of them was brought forward into
the trading. Those with prospects of in
creased dividends and those already re-
cslVing their full dividends seemed to be
IN equal favor. The steel stocks were
notably strong, and in Colorado Fuel the
gain was as. in Tennessee Coal 31s and
in Hoop preterred 31S. Others OF the
group gained points and upwards. The
LOCAL traction stocks ana the hisi,-priced
iri6ustrials were strong, but We're not
conspicuous. General Electric got up
another GIG points. Consolidated Gas as
much, Brooklyn Transit 41s. while New
York Air Brake made one of its charac-
teristic skvrocket flights of % points, re-
lapsing half that amount
The growing strength of the marke:
was evidently due to the determined buy
ing O! the class which held alcot from
The excited trading after the election,
confident that a reaction must come
which would leave the market healthier,
even though at higher prices. A number
verged in the days news. Advance
sheets Of the trade reviews for the week
EXPRESSED so rosette view of the out
look Tor trade as &c stimulate sentiment
3
statement We're accepted With reserve,
owing to the complications which have
confused the significance of recent state
meutS, but g, gain IN cash reserve Is con-
ndently looked for, and the onunued ten
dercv towards lower rates Tor money,
which made the maximum rate to-day Tor
call loans per cent. falling in the late
dealings TO 3la per cent, relieved all aP-s
prehension over the money outlook.
Profits on the days advances We're at
1ractire enough to induce some selling
toward the close. but the effect upon
prices was slight. and the closing Was
active and steady
The substantial character of the buying
was even more manifest IN the totiu
,,,arlzet than in the stuck market. high
grade bonds coming into additional favor.
Prices are very generally higher Total
sales. mar value ST., $40. 600. United States
bonds were unchanged on last call.
The total sales of stocks to-day We're
i,s.26.600 shares.
MONEY AND FNCHANGE.-Noney on
call steady at 3Gi per cent; last loan
at S11s per cent; prime mercantile paper,
41saj per cent. Sterling exchange easy,
WITH actual business in bankers bills al
si.ssss for demand and at S4-sofs for
sixty days: posted rates, Isl aai,S- anG
81 SIX: commercial bills, S4.SGs4. Sha. Sill
yer certificates, 6i@65; bar silver, "a;
Mexican dollars, 5oi.. Government oohdS
steady; State bonds inactive; railroad
bonds strong.
BANK CLEARINGS.-The total bank
cleariuss at the principal cities OF the
United States for the week ended Nofen's
her 18th were S.51a. 151,i.., an increase o.
al per cent as compareo VIZ n' ~ 90 af
responding week of last year. OUTSIDE OF
New York city the total clearinss were
S7s4. Te.151. an increase of o.6 per cent.