The Birmingham age-herald., 1902-11-19
STOCK MARKET
 GROWS PRIMER Pressure Still Directed Against
 Certain Pool Stocks. nprNlMn pplcEc tppEcllIAp
OPENING PRICES IRREGULAR
Professional Element Took the Short Side All Through the Early ses- sion In Spite of steadIness
 In Sugar and Manhattan.

New York, November 1s-1The most noteworthy feature of today's market was the steady and persistent though more liquidation. Operations were again comparatively small and professional throughout, such improvement as was shown at times being due chiefly to coy- efing by the short interest. Aside from the scarcity of time money which Is loaning at rates practically equal to and per cent for sixty and ninety days, there was no very unfavorable news. Call money was easy and in very mod crate demand and gold exports seemed no nearer than they have been for weeks past It Is clear, however, that pressure is still being directed against certain or the pool stocks and that the substantial interests are offering no real support. Opening prices were irregular and rather under the London level. Manhattan was the conspicuous feature of the entire day opening with a gain and selling to the extent of 134 shares with net gain Of Rsk points. The movement in this stock stil1 lacks explanation. Other features of the early trading were Trie, United States steel issues and Colorado Fuel, all Of which showed improvement. On the oth-' CT hand Reading Union Pacific, Canadian Pacific and St. Paul were heavy, though not to marked degree. The professional element took the short side all through the early session In spite of the steadiness in sugar and Manhattan. The demand for sugar shares appear ed to come from in- siders. Louisville and Nashville was steady. presumably as a result of the ratification of the Atlantic Coast deal. Prices held barely steady in the early afternoon though renewed pressure was brought to bear against St. Paul and Louisville and Nashville lost all of It's early gain, Rock Island also fell off and Reading, which was freely offered sold a point lower than the previous days closing quotation. The stcadiness of su- gar was partly attributed to the advance in the refined products, but that stock closed without. A reactionary tendency was manifested by Colorado Fuel and Tennessee Coal and Iron, while the steel stocks, American Smelling and Amalga- mated copper appeared to have some support Later St. Paul rallied 2 tIife as did also Reading, while Manhattan sold at the highest point of the day and the top figures reached in a long time. The coming dividend in sugar was offered at IF per cent which suggested tue pos- sibility of a reduction in the dividend
 
 the list reflected renewed selling which though moderate, was again persistent and scattering. This movement carried prices down practically all through the list with the exception of Manhattan, which retained the greater part of its advance. There was an utter absence of commission business. London bought and sold equally to the extent of 20.900 shares all of an arbitrage character and the closing was decidedly weak. In the local field the only feature of interest was the payment by the sub-treasury of $960 900 on telegraph transfer from San Francisco. This is believed to represent Australian Rnd Klondike gold received at that cen- ter. The sub-treasury transferred s200OOO to New Orleans.
 Railroad bonds showed heaviness throughout the day but declines in the active ssues were small.
 Total sales, par value, s2, 909OOO. United States bonds were all unchanged on the last call