The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1901-10-25
Realization Took Place in One
Group, and Another Group,
That Had Been Quiet Was En-
tered by Buyers
C0ALERS WERE THE
STOCKS SELECTED
Peoples Gas on Threats of Law
Suits Fell Three Points and
Closed at About the Lowest
Copper Was Weak at First But
Rallied Later

New York, Oct 24-Today's stock
market showed what is frequent in the
progress of professional operations in
the market for an advance, namely,
the shifting Of long accounts from one
group of stocks into another by reali-
zing where an advance In price has al
ready occurred and buying into group
that has been quiet
The group selected for the advance
today was the coalers The plausible
reason for the advance in the prices
of these stocks was the fact that the
present years output promises to be
the largest on record, while prices are
firmly maintained al a profitable level,
both for the mining OF the coal and its
transportation to market While the
effort was rather obvious to cOncen-
trate speculative attention upon these
stocks and the causes which moved
them there was enormous realizing
proceeding IN st. Paul, Union Pacific,
Southern Pacific and the Vanderbilts,
which have been advanced by the re-
cent manipulation. Rather less was
heard of the Northern Pacific settle
ment and the working out Of extensive
additional plans in the trans-continen-
tai railroad field. The forcing to COW
q IA d l1l sc JAAoAdAl1AAlE SllOl L AllLtI
est IS an evident factor, and probably
a motive for the operations for the adj
vance
The heavy profit taking in the pacif-
les and St. Paul was emphasized by the
decided weakness Of Peoples Gas on
threats Of continued hostile law suits.
The stock fell an extreme points,
closing at about the lowest. Amalga-
mated Copper was also decidedly weak
early in the day, the personality of the
sellers giving the appearance of inside
liquidation. The stocks rallied well.
however, and closed with a small net
gain. There was rather more urgent
selling of the United States Steel stocks
than for some time past, but the de-
cline was restricted to a fraction and
was partly recovered
Amongst the gains, that in Lacka-
wanna reached 8. Delaware and Hud-
son and Baltimore and Ohio s. Chi
cago Great Western preferred Is
and others Of the coaers between and
2. Part Of these advances were yielded
before the closing, which was heavy
and near the lowest for some stocks.
Conditions in the money market
We're without notable change. The sub
treasury in its routine operations, has
retrieved its earlier contribution to the
market on account of payments for
gold deposited at Pacific Coast points
There was a pause in the advance in
foreign exchange owing to the larger
receipts Of cotton bills. Apparently
there was renewed selling of long ster-
ling with a view to covering at ma
turity, The weekly statement of the
Bank Of France showed a strength
ened condition but money rates contin-
ued hard in Paris and over a million
dollars was withdrawn from the Banl
Of England for shipment to Paris, add
ing to the probability of an early adj
vance in the Bank of England rate.
The railroad oond market continued
quite active but realizing in the con
vertible bonds made it irregular To
tai sales, par value $3,520,O00 United
States Bonds were all unchanged OF
the last call.