The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-11-19
STOCK MARKET WAS STEADY,
WITH SMALL FOUNDATIONS.
MANHATTAN AGAIN THE
FEATURE.
Railroad Stocks Were Heavy
Sugar in Demand-Call Money
in Moderate Demand.

New York, Nov. 1s.-The most noteworthy
feature of to-day's market was the steady
and persistent, though moderate liquida-
ton. Operations were again comparatively
small and professional throughout. such
! Improvement as was shown at times being
, due chiefly to covering by shorts.
Aside from the scarcity of time money.
Whlch is loaning at rates practically equal
TO Z and 5 per cent for sixty and ninety
Gays, there was no very unfavorable news.
Gail money was easy and in very moder-
ate demand and gold exports seemed no
nearer than they have been for weeks
past. 1t is clear, however. that pressure is
sun being directed against certain of the
pool stocks and that the substantial inter
ISIS are offering no real support. Opening
london level. Manhattan was the con-
spiGuous feature of the entire day, opening
VIII a gain and selling to the extent Of
l3i,WO shares. with a new gain of 2s. The
movement In tins stock still lacks explana-
uon. Other features of the early trading
We're Erie. United States Steel and Colo.
ment.
RAILROAD STOCKS.
o, On the other hand; Reading. Union Pa
enc. Canadian Pacific and st. Paul were
professional element took the short side ali
through the early session, in spite of the
steadiness of Sugar and Manhattan. Tn
insiders. Louisville and Nashville was
steady. presumably as a result of the rati-
ncation of the Atlantic Coast deal. Prices
neid barely steady in the early afternoon.
tbnough renewed pressure was brought to
pear against st. Paul, and Louisville lost
all OF its early gain. Rock Island also felI
on, and Reading. which was freely { ffered.
s1au u point lower than the previous DAYS.
closed l higher; The steadiness of Sugar
was partly attributed to the advance in the
refined products, but that stock closed WITH
out change. WIN
A reactionary tendency was manifested
py Colorado Fuel and Tennessee Coal and
Iron: while the steel stocks. American
Smeiting and Amalgamated Copper an
Peared to have some support. Later ST.
Paul rallied a trif1e. as did Reading. while
Manhattan sold at the highest point of the
gay. and the top figure reached in a long
Time. The coming dividend in Sugar was
onered at IA per cent. which suggested
possible reduction in the dividend from to |
FINAL HOUR
In the final hour the list reflected renewed
seIllng. which. though moderate. was again
persistent and scattering. This movement
carried prices down practically all through !
tne nst with the exception of Manhattan
vance. There was an utter absence of COM |
MISSION there. London bought and sold
equally to the extent of a,0O0 shares. all Of
an aTbitrage character. and the closing |
situation the only feature of Interest was
Ine ayment by the Subtreasury and $500
IVY on telegraph transfer from San Fran |
cisco. This is believed to represent Aus |
o onn ana hIondlke gold received at that
center The Su5treasury transferred s20O-
900 to New Orleans. s-"
Railroad bonds showed heavIness through
OUT the day. but declined In the active is
sues; which were small. Total sales, value
on last call.