The Birmingham age-herald., 1902-11-26
OUTSIDE KEEPING
 OUT OF MARKET Sentiment Was Rather Mixed and Trade Almost Light FOREIGN EXCHANGE HIGHER Pending the Publication of President Roosevelt's Annual Message, There
 Is a Disposition to Put Out
 No New Lines.
FOREIGN EXCHANGE HIGHER

New York, November 25.-Sentiment was rather mixed today, the irregular course of the market refecting the many conflicting reports industriously circulat- ed. Trading while not especially light, was chiefly professional, outsiders hold ing off in view of the further advance of foreign exchange and the reported conflict between certain large railroad in- terests. Many traders showed disposi- ton to keep out of the market, pending the publication of President Roosevelts annual message in which important recommendations regulating trust and aariff legislation are looked for. Foreign exchange advanced to the highest point yet reached in the present upward move ment Demand bills sold up to AS7.4o. The price soon declined ten points, now ever, at which level most of the days business was done. Much of the demand was due to arrangements to meet ob1- cations maturing in connection with the London settlement on Thursday, as well as some syndicate payments which fall due abroad this week. While gold ex- ports are now within easy range Of nego- tiations, efforts are being made to fore stall a movement provided the offerings of finance bills will sufficiently depress She rate to make paper remittances the cheapest medium of exchange. The struggle for control of Colorado Fuel and iron is a puzzle to most veterans of the financial district, but 1t is not believed that the apparent differences between the tontendng parties will invoice the vari- ous railroad properties in which they are interested. Nevertheless heayiness was shown during the day by Missouri Paci- lc and Union Pacific, as well as by other
 ould and Hartman stocks. Rumor was
 gain busy with Manhattan and that
 ok was most irregular. opening with .,ffractional decline, advancing over 2 per cent, then selling off over per cent, then up over points to 1551e and closing with a net gain of less than a point on heavy trading.
 There were reports that a "dear' had been closed but no verification was ob- tainable. Declines were general at the opening, New York Central St. Paul, Union Pacific, Reading, sugar and other active issues selling off more or less ex- tensiyely The movement in Manhattan Beon brought a better tone with moder- nte rallies in the standard issues. Colo rado Fuel was in early demand at bet ter price. and the later course of that stock was little short Of sensational, with an advance of over per cent and H net gain of ? points. A sharp selling movement followed the first rally with decline of a point or more in nearly all the leading issues Manhattan's cratic coslvse continued and the other fractions wee heavy as were also sugar and Amal- gamated copper. Premature reports con- rerning the coal stock settlement exerted a brief favorable influence, but some un- easiness was shown at this time at the sale of block of 5000 shares of Union Pacific preferred by Gould brokers. There was considerable liquidation in the stocks in which Colorado Fuel interests are identified Heavy purchases of Read ing around 6l attracted attention but That stock was among the principal suf- derers in the selling movement at the close, with important losses in New York Central, Baltimore and Ohio, Missouri Pacific and Union Pacific. There were unimportant recoveries, and the one of the market at the close was steady Ru- mors of a probable advance in the dis count of the Bank of England on Thursday were among the disquieting Features, London traded in about 12OOO shares, half purchases and half sales.
 Bonds showed heaviness, in sympathy with stocks and Wabash debentures de- Neloped exceptional weakness. Total sales, par value $1,950. .000. United States Es, coupon, advanced S per cent on the last call.