The times. [volume] (Richmond, Va.) 1890-1903, 1900-11-23
PRICES MOVED
IRREGULARLY
Pronounced Reaction Was Followed
by Sharp Recovery.
The CLOSING REAcTloNARY.
There Was Il Violent Break Of Four
and Half Points III Steel aud Wire
Stock Which Bore General List
Uown-Bond Market Spo,ty.
(Hy Associated Press

NEW YORK, Nov. 222.-There was the
same ebh and flow in to-day's stock mar.
ket that have characterized IL for scNera!
days past. Neither the beginning nor me
end, however, WAS so well defined as yes
1erday- The currents and cToss-currents
Were very confusing all day. and MADE
IL difficult 10 analyze the tone. except
during a period OF pronounced reaction
which developed after the opening, and
an equally pronounced recovery before
Jhs- close.
The close itself was reacdonary and
weak under the influence OF Vlo!enI
break of Az points in Steel ana WIRE;
That stock got up TO IL in the ESF1erai
rally of the market. but plunged down,
ward to 46&i in a few minutes. and c;oseu
about there. with heavy offerings SUI,
coming on the market. The professional
traders in Wall Street have worked Tor
some time in the faith that they were
following the bull leadership OF a coinpl-
naldon or forces between The most not
bia Spectator in the Street ana q ne"sf
and almost equally dashing operator, VINO
made his mark. and a deep one At maj
IN the speculation in steel stocks curing
the past year and a half.
The break in Steel and Wire coming
rear home to this alleged speculative
combination. served TO unsettle sentiment
Very considerably at the close. The pear
contingent succeeded in pretty well get
ting the upper hand early in the day
There was continued strong absorption IN
sons OF yesterday strong stocks, me
local tractionSs and ST. Paul being con-
Later a strong demand developed for
Chesapeake and Ohio on buying said 10
be for Philadelphia. account rms STOCK
moved up an extreme 2Is. rms move
ment. however, was not sufficient to DIS
courage the profit-takipS and bear pres
1Sure which had been mora or less mann
fest, especially in the steel stocks, from
the opening. and the whole market tel
away, without much support, TO the low
est of the day.
The rally was inaugurated in st. Paul
That stock was carried TO 80. and the
other grangers Sugar and the local trac-
ton stocks mada the readiest response
meTlt by the time-honorcd device OF bld-
ding up the Vanderbilt's. but this proved
unavailing in face OF tbs. acute weakness
shown by the steel stocks.
The news of the day was little regarded
Some disappointment was felt at the ces-
sation of Yesterdays heavy demand from
TO the extent of about 10000 shares on
balance. There was a failure of expected
heavy demand for stocks from the West,
which was cut off from wire commn uni
inclined to make capital out OF the re-
ported dispute among the diplomats at
Fekin. and their tactics We're shown IN
the circulation of a rumor That Inc Gar
was dead
The money market showed no signs of
amy stress from the large speculation,
and was appreciably easier on the large
reoaipts of Australian gold here during
the week Sterling exchange hardened
on the large selling Of stocks by London
The bond market was strong IN spots,
but weakened at other points. Total sales,
par value, $S,515goo. United States re
funding rs advanced Is and the new IS
u per cent on the last call.
Total sales OF stocks We're 1,lS9,2oo
shares. ,
MONEY AND observation-disclosures on
call STEADY at 3d4 per cent; last loan at
8 per cent; prime mercantile paper. 4ais4
per cent Sterling exchange firm, with
actual business in bankers bills at S4 -Sia4
for demand and at s4.S1 for sixty days;
posted rates, S4.S2 and S4.S5l4; CONNER
oates t:4isd6;,Ia: bar silver, 635s: Mexican
dollars, 80 Government bonds strong;
stats. bonds inactive; railroad bonds