The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1902-11-26
EittatrtiaI.
YESTERDAYS STOCK MARKET.
Sentiment Mixed-Many Conflicting
Reports

Reports
New York, Nov. 25-Sentiment was
rather mixed to-day, the irregular
course Of the market rejecting the
many conflicting reports industriously
circulated. Trading, while not espe-
cially light, was chiefly professional,
outsiders holding off in view of the
further advance of foreign exchange
and the reported conflict between GER
tain large railroad interests. Many
traders showed a disposition to keep
out of the market pending the publica-
ton of President Roosevelt's annual
message, in which important recon-
mendations regarding trust and tariff
legislation are looked for. Foreign ex-
change advanced to the highest point
yet reached in the present movement.
Demand bills sold up to 487.40, The
price soon declined 10 points, however,
at which level most Of the days bust
ness was done. The struggle for con-
troll of Colorado Fuel and Iron Is a
puzzle to most veterans of the financial
district but it is not believed that the
portent differences between the con-
tending parties will involve the various
railroad properties in which they are
interested. Nevertheless, heaviness was
shown during the day by Missouri Pa
cific and Union Pacific, as we'll as by
other Gould and Hartman stocks. Ru
NOR was again busy with Manhattan,
and that stock was most irregular,
opening with a fractional decline, adj
off over 3 per cent, then up over 4
points to 1856 1-2, and closing with
net gain of less than a point on heavy
trading. There were reports that
deal" had been closed, but no verifi
cation was obtainable. Declines were
general at the opening, New York Cen
trail, ST. Paul, Union Pacific, Reading,
Sugar and other active issues selling
off more or less extensively. The
movement in Manhattan soon brought
better tone, with moderate rallies In
the standard issues. Colorado Fuel
was in early demand at better price,
and the later course of that stock was
little short of sensational with an adj
vance of over per cent. and net
gain of points. A sharp selling move
ment followed the first rally, with de-
clines of point or more in nearly all
the leading issues. Manhattan's err
ratio course ntinued and the other
fractions were heavy, as were also Su-
gar and Almalgamated Copper. Pre-
mature reports concerning the coal
strike settlement exerted brief favor
able influence but some uneasiness was
shown at this time at the sale of
block of five thousand shares of Union
Pacific preferred by Gould brokers.
There was considerable liquidation,
chiefly in the stocks in which Colorado
Fuel interests are identified. Heavy
PURCHASES of Reading around 81 at
tracted attention, but that stock was
among the principal sufferers in the
selling movement at the close. There
were unimportant recoveries and the
toen of the market at the close was
steady. Rumors of a probable advance
in the discount rate of the bank Of
England on Thursday were among the
disquieting features.
Bonds showed heaviness in sympathy
with stocks, and Wabash debenture
BIS developed exceptional weakness. To-
tai sales par value $1,955, 900.
United States IS coupon advanced Is
per cent. on the last call.