The daily morning journal and courier., 1901-11-12
EtmanciaI
] HE STOCK MARK E1.

A Day Of Broad and Active Speculation.
 New York, Nov. 11.--There was an-
 other day of broad and active specuIa-
 ton in stocks to-day and large and
 well distributed demand for bonds, out
 side of the extraordinary dealings in some of the convertible and speculative
 bonds. It is notable in this regard that
 while the dealings for the last week in
 stocks were still below the large busi-
 ness of the corresponding period of last year, the par value of the bonds dealt i'll last week exceeded those of the | corresponding period of last year by over $S,000,000 The demand for stocks to-day was exceedingly varied as was the movement of prices, owing to the
 fact that the buying demand shifted
 to new quarters and realizing of profits
 proceeded actively in last weeks favor
 ties, taking advantage of the sustain
 ing force of the new favorltes. The
 dealings continued to a large extent to
 remain in professional hands, although
 there was some accession of specula-
 tive interest to-day shown by orders
 through commission houses.
 While the professionals dominate the
 market, the news of the day as 1t in-
 fuences stock speculation is likely to
 be distorted in its perspective to suit
 the prevailing sentiment of the specu-
 lation. To-day, the Northwestern rail-
 road settlement and the Vanderbilt
 plan of merger which furnished the
 material of the bulls during last weeks rise, fell into the background decidedly,
 while discussion became very active on
 the favorable prospects in the coal
 trade, the iron and steel trade and of the extraordinary railroad traffic of which reports are heard on all hands. Tn accordance with this tendency the coal carriers and the iron and steel in- dustrials made conspicuous advances to-day, while the professionals sold the transContinenal stocks and the Van- derbilts to take their profits After the unprecedented outlays for the years in- crease and improvement of rolling stock and equipment, the fact that an actual car famine exists in many parts of the country is conclusive evidence that the business offering to the rail- roads Is greater than ever before From the coal and iron regions comes the cry for more cars, many iron mills being reported shut down for lack of coke and raw material 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 move ment to-day in the car and steel in dustrials a natural corollary of the movement in the railroad stocks. The days conspicuous advances will be seen to have centered in the anthracite and soft coal carriers and in the car and steel industrials. Hooking Valley with a rise of 3 1-4, American Car pre- ferred with a gain of ana several oth- CTS with ? or more points to their credit, were conspicuous in the move ment. Sugar and Amalgamated Copper were affected by an active demand from the shorts and both stocks were very largely dealt in for Boston ac- count. Chicago and Eastern Illinois jumped 9 points but reacted 5. Union Pacific preferred rose points and Great Northern preferred mad Northern Pacific preferred moved strongly up- wards at the last on revived reports of an early statement. on the subject of the Burlington Northern Pacific set clement Sentiment continued confident | over the money outlook, although for 1 eign exchange continued strong and | additional gold shipments are expected | later in the week. Realizing became | very general in the late dealings but number of rallies made the closing ir- regular.
 The bond market was very active and | yenrally strong, the convertible and | speculative bonds especially so Stan lard Rope sizes rose 1-2 Total sales par value $6,625,000.
 United States refunding twos de- 3lined IA and the old fours advanced Is per cent on the last call.