The age-herald., 1901-11-26
GENERAL WEAKNESS
 IN STOCK MARKET 5reak at Close Effective
 Throughout the List FEW STOCKS MAKE GAINS Port Receipts are Moderate and the Weather at the South Generally
 Fair-outside Public Bus
 mess Not Large.
FEW STOCKS MAKE GAINS

New York, November 25.-From gen. eral strength during the early part Of the. day the stock market gave way to general weakness before the close and ended under active selling pressure with only such recoveries as were due to the early taking of profits on the short side by the bears.
 It was notable in the early strength that many stocks responded very mod erately to the buoyant rise in the lead CTS. The general break at the last was effective throughout the list but 1t left the leaders of the advance with consid- erable net gains to show. The trunk lines were the effective leaders of the ad- vance, especially New York Central, which addede As to it's recent remarkable advance. No news was offered to ex- plain the advance beyond the many ru- mors now prevalent of a Vanderbilt deal The movement in Pennsylvania was clearly supplement to that in New York Central, and was in the hands of professional spectators who saw the force of an argument for the mainten- ance of an approximate ratio between the two stocks. The Pennsylvania ex- treme advance was 3A. The late reac- tion left net gain for New York Gen. tral of 2h and for Pennsylvania of IFS. The rise in New York Central carried with it the junior Vanderbilts to the ex- tent of from IFS to 10 points, the latter figure for Michigan Central There was enormous buying of the Reading and Southern Railway stocks but their ad- vance never much exceeded a point. A factor in the opening strength was the scramble on the part of bears, who went short of Amalgamated Copper on Sat urday on the report denied after the market closed, that the Attorney Gen eral of the United States was preparing a case against the company under the antitrust law. The opening rush car ried the stock 17s over Saturdays clos ing level and this proved the highest point of the day. The palpable indispo- sition of the stock to rally further in- vited renewed attack and the final slump to below 80 was the principal unsettling factor in the general list The stock touched 79% and closed at S0
 The heaviness of the trans-continental stocks was a feature of the trading throughout. Spectators are apparently indisposed to pay higher prices for those stocks until the result is disclosed of the agitation in the northwestern states against the Northern Securities Com pany. There was an upward spurt of 2as in St. Paul. which seemed to be manipu- lated by the bull leaders under realiz- ation of the depressing effect of the heav- mess in that group. There were more or less realizing in stocks which have re- gently advanced under cover of the early strength in.lthe leaders but 1t was not more thanfs usual in the progress of a bull markets There was no change in the situation in the money market. Foreign exchange continued to drop away from the gold export point. This weakness seems to be sin part to technical causes the expected demand for remittance on account of the last installment on the British loan, having been anticipated by extensive purchases of exchange But the requirement. by the sub-treasuries to the loan was provided for through other sources It is apparent that there has been renewed borrowing abroad which in- vited sales of exchange bills which broke the market and induced realizing by the purchasers of stocks at the high level The proceeds of this renewed foreign bor- rowing were used for the repayment of loans to the local banks. as disclosed by the loan item in last weeks bank state. ment. It is not entirely clear that the London market is sufficiently provided with money yet to carry it over the turn of the year. A deposit at the sub-treasury of $32O0O0 for transfer to New Orleans had an unpleasant effect on the confidence which has been felt that the interior requirements for currency when trans- ferred for the reason that funds would now float back to New York from this time, in creasing in volume. Except for the strongest stocks, the weak closing of the market left the net losses predomin- ating, running to a point or over in some cases.
 Railroad bonds were firm; total sales. par value. s, 365, 900.
 United States 3s and the As advanced # per cent on the last call.
 New Xork Gfocf M M,rlcsA