The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-11-20
MANHATTAN HAS
STREET GUESSING
Interest in Stock Market Gen.
tered in Locals.
SOME SORT OF DEAL is ON
Scarcity of Money Has Forced Borrow
ers to Appeal to Foreign Bankers
for Aceommodation-More
Loan Bills offered.
SOME SORT OF DEAL is ON

New York, November 19.-Interest IN to-
days stock market centered almost en-
tirely in the local fractions, which was
very strong and active. Operations In
that group aggregated about one-quarter
, of the entire days business. Manhattan,
as on the previous days of the week. was
the real feature making a maximum ad-
vance of over nine points and net gain
of s7s. Metropolitan and Brooklyn Transit
which were taken up later in the day.
scored net gains of AZ and AZ points, re-
spectlvely. The street is convinced that
some sort Of deal is on in Manhattan
and there are those who believe that the
deal is on in Manhattan, and there are
those who believe taht the deal includes
practically all the street lines of greater
New York Manhattan, according to ru-
mors current during the day, may go to
Metropolitan interests, or be taken over
by the syndicate which controls the sub
ways, now in course of construction
Rumors regarding Brooklyn Transit had
to do with Pennsylvania railroad in
terests. The Pennsylvania road, as Is
generally known, controls the Long
Island railroad and has other interests in
King and Queen counties. Nevertheless,
the rumor coupling Pennsylvania with
Brooklyn Transit, was generally secuted.
Opening prices reflected further pressure
in all the active stocks except Man.
haitian Colorado Fuel declined three
points and there were average losses of a
point or more In Baltimore and Ohio, St
Paul. Union Pacific and Amalgamated
Copper while Reading, United States
steel and sugar also sold lower. Man
hatten meantime continued to advance on
buying orders attributed to Gould brokers
and in the first thirty minutes advanced
to 100 from which 1t fell three points,
but as is shown, more than recovered this
loss. Prices gradually improved in many
of the standard issues. Traders who had
been out of the market for some days
took the long side and the short interest
covered extensively, especially in Manhat-
tan and sugar. Trading in Manhattan
during the early session was SO wide
that the stock gained a point between
quotations. 1t was reported that very
prominent operator was engineering the
movement Recoveries at this time else
where in the list were feverish and erratic
as was shown in the course of such stocks
as Metropolitan, LOUISVILLE ana NASH
vile, St. Paul, Rock Island, Missouri Pa
cizc and Canadian Pacific. Sugar contin-
ued steady on reports of better trade
conditions. Colorado Fuel fluctuations
were wild, making at one time an abrupt
rise of four points, though closing two
points below yesterdays close. General
electric fell off two points on small sales.
but the market at this particular period
seemed to be meeting more stock than
it could absorb The early afternoon
brought the real upturn in the fractions
and in the general fally and improved
tone was shown by ST. Paul. Reading
Norfolk and Western, Southern Pacific
Union Pacific, Baltimore and Ohio, Wa
bash preferred Atchison and some others
in the same class. The closing was strong
and active for the first time In some days.
nothing was said respecting gold ex-
ports. The scarcity of time money has
forced borrowers to appeal to foreign
bankers for accommodations and more
loan bills were offered today.
Railroad bonds were heavy in the early
dealings, but improved later with the
rise in stocks. Total sales par value
So, 100000 United States bonds were all
unchanged on the last call.