The St. Louis Republic., 1902-11-27
American
Exchange
{ C.: e.: {: F.; s: ::': s:5 Bank
STOCK MARKET FAILS TO
DEVELOP new FEATURES.
MANHATTAN MAKES AN AD-
VANCE ON LEASE.
International List Is Lower and In
dustrials Are Inclined to
Heaviness.

New York. Nov. 26.-with few exceptions
to-day's stock market was virtually a repe-
tition of the first days of the week. There
was the same irregular tone. with many is
sues under increased pressure. The only i'm
portant development was the official an
nouncement of the ManhattanIn Interborough
lease. Manhattan was again very eXten-
Siveiy traded ill., and made an early rise of
III per cent. later advancing to 1874. and
closing at lo6h, a net gain Of 2l4 points on
transactions considerably IN excess OF one
fourth of the entire days business. There
was much liquidation of Manhattan on the
old theory that a stock is sale when the
good news is out. The only stocks that
opened with show of strength were Colo
rado Fuel. which continues to be the center
OF a herce controversy. and Rock Island
heavtness. advanced 1% per cent, and which
closed with a net advance of 1 point The
International list was generally lower, and
ascribed to disappointment over the out
come of the more recent coal settlement ne
gotiatiOnS.
NDUSTRIALS INACTIVE
Early dealings also reflected much pres
sure against Union Pacific, Southern Pa
cific. st. Paul and Baltimore and Ohio
while the industriais were very inactive.
with pronounced heaviness In the United
day, the move in Manhattan brought snsnl
Improvement elsewhere In the list, but the
rally barely covered init losses. save in
81; Paui and Reading. The market became
duller ana more irregular, with operations
altogether professional Colorado Fuel,
after further gam of a point, reacted IA
per cent and closed unchanged.
Amalgamated Copper seemed to have
some support. and Sugar was about steady.
i lnere was practically no news to explain
the course of other leading stocks. except In
the railroad group. where some unsatis-
factory traffic returns were reported. On
the otner hand. certain other standard rail-
way issues showed good increases. Several
purchases Of Manhattan in s OO0-s share blocks
came out before noon. and scores of loo
share lots were traded in. Manhattan's
price crossed Pennsylvania for the first
time In some days. St. Paul. Southern Pa
up Iracuonaliy at times. but 1t was observed
that these stocks sold of at the first exhibit
uon OF weakness elsewhere
BUYING LIGHTER.
AS the day wore on the professional ele-
ment showed less inclination to make conn
mitments over the holiday. Commission
buying was nominal throughout, and much
Of that was Western liquidation of the steel
resulted from the Manhattan n -Interborough
announcement. The weakness Of Texas ana
racing was supposed to result from the
idea that that road might be most affected
py any aggressive operations of the anti
Gould interests. The tone of the market at
the close was weak. Trading for London
account amounted to about Is 900 Shares.
evenly divided and Of an arb TRACE char
acter. Sterling exchange relaxed slightly,
$iS7. .25 a. s10''" u
Some Of the active bonds declined to-fiay.
out there were also issues which advanced
snGnt!y Total sales. par value 81 O35 O6l
IN United t States N bonds were ali unchanged on