The times. [volume] (Richmond, Va.) 1890-1903, 1901-11-14
s MARI
WAS uN'|sE tied
.fnthusa tic Rally Followed Irregular.
and Ragged Opening.
THEN PRICES BORE DOWNWARD D / Sd
Selling Was No. Urg:nt and There III Was Was
Dizziness at the Dsc:iu:-F eyeris!lncss
succccd:d and Number OF Stocks
Closed at Lowest.
THEN PRICES BORE D0WNQvARD
(By Associated rrcss.l

NE-w YORK, Nov 1.-THE stock.
market to-day after a rather lrrses uisl.=
and ragged opening started upward " ~ y.
some sen.nusltsra, put the heavs Duth -, -
the gold exports casneo the spirits " .r,s,e
ssrecuiatorS and drove prices Gown oWii. ii
stii1l1y was not urgent. OF peclplt;ite' aiiu
there was considerapl BILE duilness at Inc. us-
cine ana some 1ir1nness. u ne meFhet uua
ing the latter part of the Gay was 1ese!-y
ism, but dipped suddenly at the last, 50
that q. number OF important stocks closeu
at the lowest OF the day.
There was rather a marked contrasl. p
the tone OF Union Pacific and Of st. PAU,
the former offering resistance to the de-
clil!e, and the latter running off easily TO
the lowest of the Gay. This apparently
reflected a dubious state of mind as to
the, exact benefit which would accrue to.
st. Paul from the Northern Pacific; settle
Hlent. The stock was leader IN the early
upward movement on this morning re-
ports that it would be absorbed by Union
Pacific as an incident of the Northwestern
Railway settlement. The tendency of
this settlement ana the very optimistic
of the anthracite coal trade, were inspir-
ing causes Of the announced advancement
in prices early in the day.
The export of gold for to-morrow's
CO., but subsequent cancellation Of a
ore million order lightened the shipment
and also the resulting depression in the
stock market The cause of the cancella-
to do with the customary limitation of
gold shipments by a single vessel. A
notable feature Of the sold movement was
its failure to affect the foreign exchange
tomary to sell exchange bills against the
shipment, but there was no sion of any
such bills in the exchange market to-day:
This corroborates the supposition that
the shipment Is made in payment Of 6ebts
which had been incurred by short selling
OF exchange bills earlier in the season and
which there is not sufficient current sup.
My of commercial bills offering TO cover,
The effect of the gold shipments, was en-
pl,asized by their leaving the exch;angc
market still at the export level. giving
ground for. the apprehension that 1urtner
GOLD will so out on Saturday.
The disposition to operate In stocks IN
creased somewhat after the assembling
of the Northern Pacific directors. IN the
taken Before the close Of the market. The
incorporation of the Northern securities
company and the decision to retire the
Northern Pacific preferred stock. were
but did not meet W itahny market res
sronse. The effect Of the gold exports on
the call money market was manifest IN a.
higher range OF quotations. 4 per cent.
being the minimum for the46day. The
market closed generally actiNe and easy.
The railway bond market was less nc
tive to-day and continued ~ d, Irregular nna o
states IS coupon advanced Il per cent. IN
the last call.
The he total sales of stocks to-day were
MONEY AND E%CHAiNGILM on
CALI closed firm at-44j per cent; last loan.
: per cent: prime mercantile paper, 4iAG1
per cont Sterling exchange firm with
actual business In bankers bills at
s4.SIAG4.S7H for demand and at $3.50
4s S for sixty days: posted rates, s4s411ksGl
4 =, and St.SS: commercial bills, s4.S3X1
S35A. Bar silver, 5Tk; Mexican dollars.
41al,. Government bonds firmer: State
PONDS inactive: railroad bonds k0ull
STOCK QUOTATIONS.