The times. [volume] (Richmond, Va.) 1890-1903, 1901-11-08
STOCK MARKE I
MUCH BROADER
Dealings Both Larger and Much
More Diversified.
REALIZING WAS ENORMOUS,
But the Market Continued to Advance Q
Other Points--Bonds Active, but Re-
action in Union Pacific Convert.
Sles Made Market Irregular.
fBy Associated rrcs..,

NEW YORK, NOV. T.-To-day's mar:.ct
was much brouder ana diversified than
that OF yesterday. ana the dealings rose
well above yesterday TO near a million
and q quarter shares. There we're enor-
j nous realizing in stocks which led the
advance, especially III Union Pacific ana
st. Paul. which ruled below yesterday S
closing level practically al day, falling at
one time to lSs for St. Paul and rs Tor
1 Union Pacific. The ilesvinesS of North
ern Pacific preferred. which fell 13s on
comparatively light transactions, taken IN
connection with the reaction il the two
stocks previously named. II would be sup
posed might indicate doubt az to the
! Northern Pacific settlement. the more so
! as no authorized statement of the terms
of the settlement or even of its actual
contamination can be had from any
source.
The conviction however. remains strong
I In speculative circles that the agreement
is in fact perfected, although nothing on
the subject but quiescent smiles be had
from insiders. The confederation offered
+ by the tape is considered conclusive, and
also that Union Pacific and St Paul are
to benefit substantially by the agreement,
just how, the case of the latter stock is
4 not even minated. The selling of those
stocks, therefore. was accepted as Ci.e to
more realizing of speculative profits, while
the market continued 10 advance with
vigor at other points. The forcing TO
cover the bear interest III some OF the
specialties recently un6er pressure was
j an important influence in The advance,
conspicuouSly SO In Amalgamated Copper,
Sugar and Peoples Gas.
Among the Transcontinental stocks the
1 .Atchsons alone continued the advance
with any great show of energy. The COM
mon rose at one time 2as, and Southern
{ Pacific got Ia over yesterday. but lost ii
a ia JfS ,of
York Central was a feature OF the market,
and lifted with it a number of the junior
Vanderbilts. Lately current rumors of a
pending concentration of the system and
increased distribution of profits were re-
rived in connection with the moVemet.
Z Tho statement of October earnings for
New York Central, showing an increase
Of IL per cent. over last, October, was also
an influence.
The coal carrying roads, both in hard
and soft coal territory. We're in notable
demand and show gains of 1Glo points.
( The United States Steel stocks developed
strength at gains of n point for the COM
Enon and 1ss for the preferred ong lowing
EaccountS OF the activity in the trace.
There were many rumors flying of a de-
termination on the part of insiders TO
advance this stock, but the rise met with
largely wiped out. The movement to real
Size became very general before the close,
Sand the advances were curtailed on all
points and entirely wiped out in a few
leases,
The payments of the Sub-Treasury in
redemption of bonds and for the deposit
$of Australian and ISlondike gold at Pacific
ECoast points are so far offSetting the drain
aon other accounts that the money ques-
Ation is kept in allegiance. The market
9closed easy under the influence of realiz-
Ting.
The railroad bond market was very &C
sti1e, but the reaction in Union Pacific
convertible bonds made otherwise
sstrong market irregular. Total sales, par
value. SG.S10.u1O. United States bonds were
&ail unchanged on the last call.
The total sales of stocks to-day We're
u ,2l4, 500 shares.
MONEY AND EXCIIANGE-Noney on
sail steady at :;1ad4 per cent; last loan,
s3h per cent: prime mercantile paper.
s4iam5 per cent. Sterling exchange firm
witt. actual business in bankers bills at
50. S6iSG4.S7 for demand and at 81 S;iRi for
Sixty days: posted rates. SASH and
SiSIi96I4. IS; commercial bills. 81 .Ssm4. So
s+Bac silver, :t7M: Mexican dollars, 4jlk.
Government bonds steady State BONDS