The times. [volume] (Richmond, Va.) 1890-1903, 1902-10-30
FORCED SELLING
N STOCK MARKET
Another Advance in Foreign Ex..
change to Highest Point.
HE STOP LOSS ORDERS
Some Activity in Norfolk ard Western
and Baltimore and ohio-The Total
Sales of Stocks Goes Over the
Half Million Mark Again.
my Associated Press. ,

(iSy Associated PrcSs.3
4 NEW YORK. Oct 29.-Anothers advance
In foreign exchange to the highest point
reached during the present movement.
with attendant fears OF gold exports.
brought further liquidation to the stock
market to-day. A great deal of selling
was for account of the Western specuia-
tive element. and much of il was forced.
Not q few stop-!oss orders were uncov-
cred. md room traders. crnboldened by
this show OF weakness, made series of
drives which left the list generally lower
with many sharp breaks. Exchange ad.
vanoed to 4 80. which. in the opinion OF
some brokers'. was several points away
from the basis at which gold could be used
for remittances with profit. Some eS-
change firms believed. however. that en-
gagcments might be made with exchange
only five points above to-dayis level
Opening prices for stocks were g tribe
bctter and the activity in such lsSnes "a -
Western seemed due to the aggress.Ne'iess
OF one of the leading operators. ne az,
vance In Southern Pacific. was IS f re e1
more as a drive against one OF the bear
pools in that stock, while the WEAKNESS
Of Colorado Fuel suggested INSIDE, seiilIas.
All through the morning session oealllss
continued professional and insignificant
and at times the market was completely
stagnant. The only strong features dur
ing this period were. Texas and Iac ll
minneapolis and st. Paul and Sault STE
Marie Kansas and Texas preferred and
Illinois Central. EtsewheTcin the stand
ard class fluctuations were extremely mar
row.
Colorado Fuel made further decline.
but the Rubber Goods issue were strong
ct Improved prices. One of the redeem
ing features was the buying for London
account to the extent Of about p 600
shares, but these transactions were mega
tive inasmuch as they really represented
New York buying and We're incidental to
the change Of accounts between the two
markets. A sale of 5000 shares of Colo
raao Fuel by one firm sent the price off
TO SLY and that stock made a net loss Of
another point The realization occurred
in the afternoon. Stocks that sustained
the greatest declines included Delaware
and Hudson which made net loss of s
points ard ST. Paul Missouri Pacific. Illi-
nois Central Louisville and Nashville.
Baltimore and Ohio. Norfolk and Western
Reading and Colorado Fuel and ron. de-
cl!nes extending from 2M3l2 points. In
snite of the United States steel decision
those stocks held 4comparatitelE firm. The
closing was weak.
Railroad bonds were irregular with ac-
tive isuses showing hcav:ness in SYM
pathy with stocks. Total sales. par
value. $3.50 0A0. United States bonds were
ell unchanged on the last call.
The total sales of stocks for the Gay
were 55l.5eo shares.
MONEY AND EXCHANGE ney on
cal lsteady at 3llaEi4is per cent: closing
bid. sls per cent. prime mercantile paper.
b1SI6 per cent. Sterling exchange firm
with actual business in bankers bills at
81 SG.S75 for demand and at S4SS4at u. ~. 90
for sixty DAYS bills: posted rates s4:Si
and 81 s7lk: commercial bills. S4.S..159 "a. 3d..
Bar silver 51ss: Mexican dollars, 3ass