The Birmingham age-herald., 1902-11-18
STOCK EXCHANGE
 CONTINUES DULL Probably Caused by L iquidaiiOn of Saturdays Survivors MANHATTAN THE FEATURE Rise Tn the Stock Has Revived the Rurnor That the Road Is to Be
 Taken Over By the New i- York Central.
MAMMALIAN TIE FEATURE

New York November IT. The stock market presented few if any marked characteristics today. Although London prices showed improvement, the opening here was decidedly irregular. This was probably caused by the liquidation of those who withstood last weeks depres- slon as well as the profit taking of specu- Iators who bought during that same period. These uneven conditions gave way to a better feeling before the end of the first hour when it became evident that certain vague rumors of "trouDle were unfounded. The feature of the early trading, as well as of the entire day. was Manhattan, which was exceptionally strong and active, making maximum and net gain of over points on transac- tions that more than exceeded one-fifth of the days total operations The rise of this stock. which was bought openly Tn big blocks by brokers who usually repre- sent Gould in this stock, revived the old story that Manhattan Is to be taken over by the New York Central on a guaran- teed dividend. No confirmation of this was obtainable nor did any great amount of credence attach to 1t. The other trac- tions were favorably strong in sympathy. Metropolitan on very light transactions gained over a point, with fractional ad- vance in Brooklyn Rapid Transit. Con- siderable attention was drawn to St. Paul by reason of It's irregular movements and the stock closed with a slight loss. New York Central, which made an early gain of 1@6, lost most of it's advance, and Bal timore and Ohio fell over a point from the top in spite of its good showing in earnings for the fiscal year. Other active railway issues that displayed heaviness included the Pacific group, the pressure against Union Pacific at one time being very marked. In the special class Colo rado Fuel United States Steel, American Smelling, Sugar and a few others were steady.
 Sugar made a material net gain. For the most part, however changes were up during the early session and the market was narrow, trading showing a disposi- tion to await developments in the local financial situation. The chief feature in this quarter was the transfer of S750,000 to San Francisco and S400000 to New Or leans, making a total of $l 100000 to the first named center in the last four days. This drain on local resources was not re- garded with favor There was practi- cally no change in foreign exchange. De- mand sterling ruled at S.47. While bank CTS say they look for no immediate ex- ports. the fact that three fast ships land ing at French ports leave this city during the week created more uneasiness Call money was as high as per cent and as low as 31s, the bulk of loans being at Az per cent. London bought about 25,0O0 shares in the early declines and sold the greater part on the rise. The increased dividend In Norfolk and Western common failed to bring any material improve ment to that stock, although dealings were moderately heavy. The decline of B15 points in General Electric resulted from reports of labor trouble at the com pany's works at Schenectady Profit talk Ing in the last hour brought recessions to a number of active issues and while the market rallied, the close was irregu- lar. The question of increased railroad wages continues to be matter of serious discussion, as we'll as the congestion of freight traffic on the leading roads, and it is becoming clearer daily that the ca pacity of practically every trunk road will be taxed to the utmost.
 Bonds were irregular on a small range. Total sales par value. $2,945,O0O United States old As declined A per cent on the last call.