The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-11-26

NEW YORK, Nov. 25.-From general
strength during the early part of the
day, the stock market gave way to gem
eral weakness before the close and end
ed under active selling pressure, with
only such recoveries as were due to the
early taking Of profits on the short side
by the bears. 1t was notable in the ear
ly strength that many stocks responded
very moderately to buoyant rise in the
leaders: The general break at the last
was effective throughout the list, but it
left the leaders of the advance with con-
siderable net agains to show. The trunk
lines were the effective leaders of the
advance, especially New York Central,
which added 41a to it's recent remarka-
bic advance. No news was offered to
explain the advance beyond the many
rumors long prevalent of a Vanderbilt
deal. Pennsylvania extreme advance
was 2A. The late Reaction left a net
gain for New York Central of PA and
for Pennsylvania of rs. The. rise in
New York Central carried with it the
Junior Vanderbilts to the extent of from
l9s to 10 points, the latter figure for Mich
1gan Central There was enormous buy
ing of the Readings and of the Southern
Railway stocks, but the advance never
much exceeded a point.
A factor In the opening strength was
the scramble on the part of the bears
VINO went short on Amalgamated Copper
OF SATURDAY on the report, denied after
the market closed, that the attorney
general of the United States was pre-
pairing case against the company under
the antitrust law. The opening rush
carried carried. the stock 17s over Saturdays
point OF the day. The palpable indispo-
sition of the stock to rally further in
vlted renewed attack and the final slump,
70 was the principal unsettling factor
IN the general list.
Inc heavfness of the transcontinental
STOCKS was a feature of the trading
troughout. Spectators are apparently
lnolssposed to pay higher prices for these
stocks until the result is disclosed of
the agitation in the Northwestern states
against the Northern Securities compa-
ny. mere was an upward squirt of 2ss
IN IN 81. Paul which seemed to be manipu-
later by the bull leaders under a reali-
zatlon OF the depressing effect of the
heaV1ness in that group. There was more
or less realizing in stocks which have
recently advanced under cover of tn,
early strength In the leaders. but it was
not more than Is usual on the progress
or bull market. There was no change
N n the situation in the money. market.
away from the gold export point This
weakness seems to be due in part to
Iechmcai causes, the expected demand
Tor remittance on account of the last in
stailment on the British loan having
been anticipated by extensive nf1rchase
OF exchange. But the requirement. by
une subtreaSuries to the loan was nro-
Vlded Tor through other sources. 1t is
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borrowing abroad which involved sa1es
OF exchange bills which broke the mar
ket and induced realizing by the pur-
ehasers OF stocks at the high level. The
proceeds of this renewed foreign bor-
rowing We're used for the repayment of
loans to the local banks, as disclosed nv
the loan item in last weeks bank state,
m menu 1t is not entirely clear that the
LONDON market is sufficiently provided
with money yet to carry it over the turn turn
OF the he year A deposit at the subtreasury
OF ,SS2D,00 for transfer to New Orleans
mad an unpleasant effect on the conf
dence which has been felt that the in
f iefn9 demands den for currency were sat
would not flow back to New York from
TINS TINS, time Increasing volume Except for
Ihe strongest stocks, the weak closing of
the market left the net losses pred0mi
mating, running to point or over in
Railroad bonds were firm. Total sales
par value, So, S65, 600 United States es
ana ana new As advanced Is per cent ON the
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