The Montgomery advertiser., 1902-11-27
WALL STREET REVIEW
MANY ISSUES UNDER INCREAs-
ED PRESSURE.
Only Important Development Was
the 0hicial Announcement of
the Manhattan-Interborough
Lease-Colorado Fuel
Controversy.

NEW YORK. Nov. 26.-with few exceptions.
today's stock market was virtually a repeti-
the same irregular tone with many issues un-
der Increased pressure. The cnly important
development was the official announcement Of
the Manhattan-Interborough lease. Manhattan
was again very extensively traded In and made
an early rise Of ~ per cent, later advancing
to 1874 and closing at 1854 net gain Of
IN points on transactions considerably in ex-
cess Of one-fourth of the entire days business.
There was much Liquidation of Manhattan on
good news is. out. The only stock that opened
with show Of strength were Colorado Fuel.
which CONTINUES to be the center Of ferce
after brief period OF heaviness advanced
~ per cent. and which closed with a net ad-
vance OF point The international list was
generally lower and the material decline in
Reading was ascribed to disappointment over
the outcome OF the more recent coal rettle-
ment negotiations. Early dealings also
fected much pressure against Union Pacific.
Southern Pacific st. Paul and Baltimore and
tive, with pronounced heaviness in the United
States Steel stocks. As on the previous day,
the move in Manhattan brought slight i'm
provement elsewhere In the list, but the rally
barely covered initial losses. save in St Paul
and Reading The market became duller and
more irregular with operations altogether pro-
fessional. Colorado Fuel after a further gain
Of point, reacted " per cent. and closed
unchanged. Amalgamated Copper seemed to
have some support and Sugar was about
steady There was practically news to ex-
plain the course of other leading stocks, ex-
cept IN the railroad group, where some uneeus-
factory traffic returns were reported. On the
other hand certain other standard railway is
sues showed good increases. Several purchases
of Manhattan in 5.ooo-share blocks came out
before noon and scores of .00O-share lots
were traded in. Manhattan's price crossed
Pennsylvania for the first time In some years.
st. Paul, Southern Pacific Union Pacific and
Atchison were bid up fractionally at times.
but 1t was observed that these stocks sold of
at the first exhibition of weakness elsewhere.
AS the day wore the professional element
showed less inclination to make commitments
over the holiday. Commission buying was
nominal throughout and much of that was
Western liquidation of the steel stocks. Little
change in the condition resulted from the
Manhattan-In terborough announcement. The
weakness OF Texas and Pacific supposed
to result from the idea that that road might
be most affected by any aggressive operations
of the anti-Gould interests. The tone Of the
market at the close weak. Trading for
London account amounted to about $1,000
shares evenly divided. and Of an arbitrage
character Sterling exchange relaxed slightly.
demand sterling being quoted at 1920 to
4s7:25.
Some Of the active bonds declined today but
there were also issues which advanced slightly
Total sales (par valued. 81 OBS. 900. United
States bonds were all unchanged on the last
call.