The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-11-29
reu Yors STOCK MARKET

New York, November 27.-There was
a good deal Of hesitation about the
speculation on the stock exchange to-
day. There were a number Of conspic-
uous advances. which failed to attract
any considerable following or to reflect
any marked influence OF the general
list The selling pressure. however, was
not acute. There was moderate real
ising whenever the strength Of the mar
ket permitted, but il was not urgent
and was not pushed at the pens of
values The bears made an attack on
the market late in the day, encouraged
by the manifest hesitation of the buy
ing, n succeeded in reducing the price
level considerably, especially at points
where it had been advanced in the
morning.
The strong stocks were Influenced APP
parently by individual causes and their
movement was not accompanied by
any news to explain it. Sugar was &C
lively traded in all day and was lifted
an extreme 3h. Manhattan maintain
ed it's recent aggressive strength and
advanced 2 points further. General
Electric added ~ points to it's yester-
days jump, but lost all but l point of
the gain before the close. The recent
severe pressure against A~malgamated
copper was Ield4eO anu Jndl SlOCh raj
lied rs. after reacting to a shade I'M
der last night, but became compare
lively steady above that. The quieter
tone Of this stock was a relief to the
whole market and the violent break
in the raw copper market in London
and the heavy selling of Rio Tintos in
Paris did not seem to affect it.
There were various other points of
strength among minor railroad stocks
in the group of coalers and southwest
ernS, and aslarge demand for Southern
railway preferred lifted it at one time
ia. Evansville and Terre Haute gain
ed 4. New York Central was under
pressure at different times or account
OF the failure Of developments 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 presidents
forthcoming message was to take strong
ground for the federal control or re-
striction of great corporations, includ-
ing the Northern Securities Company.
There was some revived apprehension
of further gold exports, induded by the
further recover in foreign exchanges,
the hardening of money rates in Lon
don and the renewed decline in ster-
ling exchange at Paris, all Of which
developments go to intensity the pres
sure upon New York for gold. The ex-
pressed confidence of Berlin financiers,
according to cabled reports, that furth-
er gold was to go from New York to
that point was also a disquieting influ-
ence. Berlin reports the first awak-
ening from the long continued stagna
ton in its stock market and it is said
that American capitalists have been
Watchful for a turning point in that
market to take advantage of the de-
preston of values for the placing Of
some capital. The announcement that
the United States Steel Corporation
syndicate was returning to it's subscrib-
ers the 12R per cent. of their subscrip-
tions actually paid in, which amounted
to ,S25, 0O0, 900, did not affect the corpor-
alton stocks which maintained their
recent stability. This operation is ex-
pected to figure principally in the loan
item of the banks as a cancellation Of
loans. Last weeks heavy loan c~ontrac-
ton may find an explanation in this de-
velopment. The movement of prices Of
railroad bonds was irregular. Total
sales, par value. were 1920, 900. United
States bonds were all unchanged on the
last call. The total sales Of stocks to-
day were 739. 400 shares.