The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-11-28
Jlocks. Bonds and Money


NEW YORK, Nov. 2T-There was
good deal of hesitation about the Specu-
lation on the stock exchange today.
There were q number OF conspicuous ad-
yances which failed to attract any con-
siderable following or to reflect any
marked influence on the general list.
The selling pressure, however, was not
acute. There was moderate realizing
whenever the strength Of the market per-
mitted, but 1t was net urgent. and 1t
was not pushed at the expense of values.
Bears made an attack on the market
later in the day, encouraged by the man
ifest hesitation of the buying, and sue
ceeded in reducing the price level con-
siderably especially at points where 1t
had been advanced in the morning. The
strong stocks were influenced apparently
by Individual cause, and their movement
was not accompanied by any news to ex-s
plain It, Sugar was actively traded In all
day, and was lifted an extreme "a.
Manhattan maintained its recent agSres-
siye strength and advanced points fur
Their. General Electric added ~ points
to its yesterdays jump, but lost all but
one point of the gain before the close.
The recent severe pressure against
Amaigamated Copper was relaxed, and
that stock opened a shade under last
night, but became comparatively steady
above that. The comparatively steady
nature of that stock was soothing to the
market, and the London Copper market
and the heavy selling of Rio Tintos in
-
were various other points of strength
among minor railroad stocks in the group
of coalers and Southwesterns. and large
demand for Southern Railway preferred
Terre Haute gained 4. New York Cen
trail was under pressure at different
times on account of the failure Of de-
yelopments in the rumored Vanderbilt
plan at yesterdays meeting OF directors
of the Vanderbilt railroads.
There was more or less speculation,
based on rumorS that the president
forthcoming message was to take strong
ground for the federal control or restric-
ton of great corporations. including the
Northern Securities company. There was
some revived apprehension of further
gold exports, induced by the further re-
coyery in foreign exchange. the harden
ing of money rates in London and the
renewed decline In sterling exchange
at Paris. all of which developments go
to intensity the pressure upon New York
for gold. The expressed confidence OF
Berlin fnanciers, according to cabled re-
ports, that further gold was to go from
New 1ork to that point was also dis
quieting influence. Berlin reports its
first awakening from the long-continued
stagnation in its stock market, and it
Is said that the American capitalists
have been watchful for turning point
in that market to take advantage of the
depression of values for the placing of
some capital.
The announcement that the United
States Steel corporation was returning to
its subscribers the 121z per cent of their
subscriptions actually paid in, which
amounted to s2o, GEO. did not affect the
corporations stocks, which maintained
their recent stability. This operation Is
expected to figure principally in the loan
item of the banks as a cancellation OF
loans. Last weeks heavy loan contrac-
ton may find an explanation in this de-
yelopment.
The movement of prices of railroad
bonds was irregular. Total sales, par
value, S.. 2s0. o00 United States bonds
were all unchanged on the last call.
SgocsNR.