The times. [volume] (Washington [D.C.]) 1897-1901, 1900-12-01

NEW YORK. Nov. 3O.-A fact of some
significance in current dealings in the
stock market is that, following upon each
Sunday or holiday, there is an evident ac-
emulation of buying orders in the hands
OF commission brokers. According to
common reports such was the case upon
the resumption of business this morning
and that circumstance. coupled with ma
terially higher prices for American stocks
in the London market resulted in substan-
tial advances in the local dealings unon
the opening of business this morning
The advance was furthered also Ivy The
disposition of the dealings here for for
eign account, which resulted on balance
in the purchase of about SO. 900 shares of
stocks. The London market, aside from
the American quarter, was rather heavy,
chiefly because of the close monetary
conditions at that point and also on ac-
count of the serious reverse to the Brit
ish forces at stage of the African trou-
bles where it might have been supposed
such disaster would have been impos-
sible.
Notwithstanding the general steadiness
or the market, appearances of irreguarity
were by no means wanting, although the
only severe declines noted took place in
the industrial quarters and in the local
traction shares. American Tobacco broke
with particular raridity. and Continental
Tobacco was likewise weak, the decline
in the first named being ostensibly owing
to recent decisions handed down in the
Supreme Courts of several States uphold
ing the constitutionaiity of laws forbidding
the sale Of cigarettes
Other weak features of the industrial
quarter were American Smelling and ST.
gar Refining. Both stocks declined on re-
ports that new competition was likely in
both industries. and in the instance of
Sugar it was not unlikely that msgiyings
as to the dividend TO be declared next week
accounted in part for the feverish tone of
that stock. Support, however, was not
wanting. Apart from the cases cited the
industrial quarter did not play conspicu-
GUS part in today's dealineA
As La Seen the case throughout the
week, interest was largely centred in the
railway list, and while the tone there was
also somewhat irregular the tendency in
the main was toward higher level
There was no special news OF gossip bear
ing upon the railway quarter of the mar
ket, Notwithstanding which some note
worthy advances were scored there Con-
spfcuous features we're Chesapeake and
Ohio. Southern Pacific. Louisville and
Nashville. Union Pacific, the Atchison
shares, and Hooking Valley common and
preferred.
The concentration OF interest in the
stocks of the general grade referred to
may be noted as a distinguishing charac-
teristic OF the present speculation. Among
the higher priced issues New York Gem
trail was strong aud active, PENNSYLVANIA
somewhat heavy, while the movements in
the granger shares we're extremely lin
tied.
The traction shares did not participate
in the general steadiness of the market.
pressure appearing throughout that quar-
ter,~with nothing definite in the way of
news or gossip in connection with the
course of those stocks.
As IVES to be expected at the close OF
the month, in view of the arrangements
necessary in connection with the disburse-
ments OF interest tomorrow. money on call
was somewhat firnler, but that circunl-
stance did not seem to cut a considerable
figure in calculations. nor did there appear
to be the usual amount of speculation in
regard TO the probable showing of the
banks in their weekly statement tomorrow.
Throughout the early weakness in the
local traction group Third Avenue Rail-
road had shown conspicuous strength, and
in the afternoon il advanced rapidly on
unusually large transactions. The rise in
Third Avenue led to covering in the re-
mainder OF the local traction shares which
recovered sharply. and their tendency
seemed TO lead to other purchases for short
account in the remainder of the market.
There was no more definite news or Cos
Zip bearing on the rally in the local trac-
ton shares than there was In regard to
their earlier declines. The market as
whole retained its irregular tendency up TO
the close of business.