The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1901-11-12
Made Conspicuous Advances as
Did the Iron and Steel Indus
tries While Vanderbilts Were
Sold to Take Profits
DAY OF BROAD AND
ACTIVE SPECULATION
And a Large and We'll Distributed
Demand for Bonds Outside the
Extraordinary Dealings in
Some of the Convertible and
Speculative Bonds

New York, Nov. 11.-There was
another day of broad and active spec
ulation in stocks today, and a large
and well distributed demand for bonds,
outside of the extraordinary dealings
in some of the convertible and specu-
lative bonds. 1t is notable in this re-
gard that while dealings for the last
week in stocks were still below the
large business of the corresponding pc
Rod of last year, the par value of the
bonds dealt in last week exceeded those
of the corresponding period of last
year by over s8,000,0 900.
The demand for stocks today was eX-
eeedingly varied as was the movement
of prices, owing to the fact that the
buying demand shifted to new quar-
tiers and realizing Of profits proceeded
actively in last weeks faYorites, TAX
ing advantage of the sustaining force
of the new favorites. The dealings
continued to a large extent to remain
in professional hands, although there
was some accession of speculative in
terest today shown by orders through
commission houses.
While the professionals dominate the
market, the news of the day as it in
huenees stock speculation is likely to
be distorted in its perspective to suit
the prevailing sentiment of the specu-
lation. Today, the Northwestern Rail-
road settlement and the Vanderbilt
plan of merger which furnished the
material for the bulls during the last
weeks rise, fell into the background
decidedly while the discussion became
very active on the favorable prospects
in the coal trade, the steel trade and
of the extraordinary railroad traffic of
til, ~,,.Fs- Ill
In accordance with this tendency. the
coal carriers and the iron and steel in
dustrials made conspicuous advances
today. while the professionals sold the
Trans Continental stocks and the Van
derbilts to take their profits. After the
unprecedented OUTLAWS of the past year
for increase and Improvement of roll
ing stock and equipment, the fact that
an actual car famine exists in many
parts of the country is conclusive evil
dence that the business offering to the
railroads is greater than ever before.
From the coal and iron regions comes
the cry for more cars, many iron mills
being reported shut down, owing to the
shortage of cars.
Grain receipts are said to be small
because of lack of cars to move them
This accOrds with the reports that the
overwhelming railroad traffic is largely
made up of general merchandise, due
to the activity in trade in all lines. The
urgent demands for freight cars and
other forms of railroad equipment
made the movement today in the car
and steel industrials a natural corolla-
ry of the movement in the railroad
stocks
The days conspicuous advances will
be seen to have centered in the an
thracite and soft coal carriers and in
the car and steel industrials. Hooking
Valley with a rise of 81, American
Car preferred with a gain Of 4 and sew
eral others with 2 or more points to
their credit, were conspicuous in the
movement Sugar and Amalgamated
Copper were affected by an active de-
mand from the shorts, and both We're
very largely dealt in for Boston ac-
count. Chicago and Eastern Illinois
jumped . points but reacted five. Union
Pacific preferred rose points and
Great Northern preferred and North
ern Pacific preferred moved strongly
upwards at the last on revived reports
of an early statement on the subject
Of the Burlington-N Northern Pacific set
tlement
Sentiment continued confident over
the money outlook. although foreign
exchange continued strong and addi-
tional gold shipments are expected lat
er in the week. Realizing became very
general in the late dealings, but a num-
Der Of rallies made the closing irregu-
lar.
The bond market was very active
and generally strong. the convertible
and speculative bonds especially so.
Standard Rope Is rose AZ Total sales.
par value, s6,625000. United States re-
findings IS declined 4 and the old As
advanced u per cent on the last call.