The times. [volume] (Richmond, Va.) 1890-1903, 1901-11-26
MARX CLOSED
UNDER PRESSURE
Early Strength Gave Way to. General
Weakness.
NO CHANGE IN MONEY MARKET 3 I, {:
General Break at the Last Was Effective
Throughout List, but Left Leaders of
the Advance With Consider
able Net Gains.
(By Associated rress.)

NEW YORK, Nov. 2j.-From general
strength during the early part OF the. day
the stock market gave way to general
weakness before the close and ended un-
der active selling pressure with only such
recoverics as were due to the hasty TAX
ing OF profits on the short side by the
bears. 1t was notable in the early
strength that many stocks responded very
mod erately to the buoyant rise in the
lea ders The general break at the last
was effectivc throughout the list. but 1t
left the leaders of the advance with con-
Siderable net gains to show. The trunk
Zines were the effective leaders of the
advance especially New oril Central
which added AZ to it's recent remarkable
advance.
vance in New York Central. Pennsyl-
vania also advanced. Pennsylvania cS-
IRENE advance was So. The late reaction
left a net gain for New York Central OF
PIX and for Pennsylvania of rs. The rise
in New York Central carried with it the
Junior VanderbiitS to the extent, of rs TO
10 points, the latter for Michigan Central.
There was enormous buying OF the Read
inss and of the Southern Railway stocks.
but their advance never much exceeded Il
point. A factor in the opening strength
was the scramble on the part OF the bears
who went short of Amalgamated copper
on Saturday OH the report. denieo after
the market closed. that the Attorney Gen
eral Of the United States was preparing
a case against the company under the an
ti-trust law.
The opening rush carried the stock IL
over Saturdays closing, and, this proved
the highest point of the day. The lndis-
position of the stock to rally further IN,
slun1p it fell below so. and was the most
unsettling factor in the general list. me
stock touched 79A and closed at 80. me
heaviness OF the Transcontinental stocks
r Al, ~
The spectators are apparently indlsposeo
to pay nIpher prices for these stocks UNI
til the agitation is closed in the North
western States against the Northern
ward srurt~ Of 23s in st. Paul. willci;
seemed to be manipulated by the bull
leaders under a realization Of the dc;
pressing effect of the heaviness in that
group. There was more or less realizing
in stocks which have recently ADVANCED
under cover of the early strength in the
leaders. but it was not more, than IS usual
in the progress of a bull market.
There was no change in the money
market situation. Foreign exchange con-
tnued to drop away from the gold eXpor:
point. A deposit at the sub-Treasury of
$500 600 for transfer to New Orleans had
an unpleasant effect on the confidence
which has been felt that the interior re-
nurements for currency We're satisfied
fuT the reason that FUNDS would flow back
to New York from there in increasing
value. Except in the strongest stocks. the
weak closing left the net LOSSES predon-
mating. running 10 a point or over in
some cases.
Railroad bonds were firm. Total sales.
par value. S3.36jO00. United States IS
ana the new is advanced 4 per cent. on.
the last call. 4
The total sales of stocks! day were
1,221 800 shares
MONEY AND ENCHANGE-N1oney on
cali closed rather easier at 31hm412 per
cent: last loan 49, per cent: ruling rate.
4 per cent * nrima merca ntile paDer. iMM
per cent Sterling exchange steady at
decline with actual business in bankers
bills at S4.S7 for demand and at 81 S3'tfI
S'N for sixty DAYS: posted rates.
81 S41sGE4 s. and 81. SS64 SSH: commercial
bills 81 S'd4. S3h Bar. silver. Sc; Next
can dollars 44M. Government bonds.
strong: State bonds. in active: railroad
bonds firm.