The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-11-15
Ftuanrial.
THE STOCK MARKET.


New York, Nov. 14.-The striking fact
about to-day's stock market was the
decreased volume of trading. Yester-
days reaction was checked and quite
an imposing show of strength was made
thereafter but there was no renewal of
the inordinate buying demand which
carried prices upwards with rush all
/ through last week. Business continu-
ing on a large scale compared with the
normal but the movement of prices OBJ
vously depended on artificial stimu-
ants. Yesterdays sharp decline Undue
ed some selling orders from outside
sources this morning. But the power
full support by the bull pools checked
the decline and secured control of the
market almost Immediately. There was
some small buying for London account,
but 1t was not q potent factor IN tue
market Operators in the speculative
class have not been satisfied that the
boom of the past week was altogether
healthy, and have been waiting for the
inevitab BILE setback, which would shake
off the weak speculative accounts and
leave the market better prepared for
steady advance. But this buying fell
off as prices rose above yesterdays lev
ell The most effective movements of
the day We're in Pennsylvania and
Northern Pacific. There were vague
rumors afoat of deals by the Pennsyl-
vania company of the same character
as the series of requirements of stock
In other companies earlier in the year
The accompanying strength of Balti-
more and Ohio, Norfolk and Western,
and some of the coalers was intended
to give color to these rumors. But no
authoritative continuation was forth !
coming, and Pennsylvania stock was
highly manipulated all day The buy
ing of Northern Pacific, both common
and preferred, seemed of a more sub
stantial character. The statement of
the trustees in dissoving the voting
trust and the desirability of additional
holdings for centralized control follow
ing the dissolution of the trust offered |
plausible motives for the buying The
in the local traction stocks
and in General Electric grew out of
the statements in the annual report of
the Manhattan Elevated company az to
the progress being made towards cleo
trcal equipment and the friendly Coop
Grafton Of the Metropolitan Street Rail-
way company The advances extended
all the way from / ss in Pennsylvania
t. ~ in General Electric. These stocks
about measure the dimensions of the !
upward movement, gains elsewhere be-
ing for the most part in sympathy
when heavy realizing de-
veloped in Northern Pacific and Penn
sylvania, which practically wiped out
their earlier gains, and in Manhattan,
the whole market turned weak again
and fell back to an average level about
IS low as that of the morning. There
was a final rally, but it was lacking in
snap and was not well maintained the
he market closing Irregular Pacific
Mail, Linseed Oil preferred and one or
wo of the steel stocks were actively
'eactionary Call money got up to 6 ;
Der cent. again and the time money .
market continued firm and rather ac-
i've. Apprehension of money squeeze !:
speculation, but the fact 4
hat the public demand for stocks has
Violently been stated for the time being 4
S the preponderant fact Of the specu- s
alton. 5
The bond market was irregular in l
with stocks. Total sales par
alue $2970000.
United States refunding Is when is
ued declined y and the 5s registered
dvanced Y and the coupon q per cent
n the last call.
NEW FORK STOCK M4RKET \
opening, Highest, Lowest Quotation l