Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-11-23
Prices Shade Off, But No
Weakness Shown.
RALLY FOLLOWS FALL
STEEL LEADS THE DECLINE, But
RECEIVERS.
Southern Preferred Drops a Point-List
Reveals Strength Call
Money High.

NEW YORK, November 23.-The stock
market opened quiet and rather hestating.
United States Steel preferred and Sugar
showed the largest fractional losses, while
Southern Pacific and Pennsylvania moved
as much in the contrary direction. But few
stocks were dealt in in the early dealings
and transactions were in rather small
amounts.
Selling orders predominated, but they did
not damage values much. The pressing of
the general market was fostered to some
extent by the decline in United States Steel
preferred to 5O14. The movement on the
whole was narrow, and the market showed
frequent rallies. Southern Railway pre-
ferred declined point. and Republic Steel
preferred 1A, while United States Steel sec
ond SIS fell off to So Southern Pacific was
In demand later. and touched As. Other
stocks also hardened a trife.
Prices rallied to a fraction above last
Saturday, United States Steel preferred
sharing In the recovery. Local fractions
were strong and made gains of 1 to =
Snuff preferred rose rs. Continental To-
bacco preferred lost IL and Corn Products
Ia. The market became very dull and
hesitating at the rally. Bonds were irreg-
ular at noon.
Large amounts of Republic Steel pre-
ferred were offered for which there was
little demand. and the price was ccaled
down steadily until it touched 81, loss
of AZ. This and the advance in call money
rates caused a contraction in the general
volume of business, but there was dis
play of sympathetic weakness. Lead gained
1a. and Nashville, Chattanooga and st.
Louis Z. Sloss Sheffield Steel lost is, and
st. Paul preferred IL.
Liquidation. bear selling and the execu-
ton of stop-lOss orders carried Republic
Steel preferred down points in all.
The Generalization in this stock was
n or n 1acS al frn,,
and steel properties. Pressed Steel losing
"a, the preferred and Sloss-Sheffield Steel
2 and Republic Steel and Colorado Fuel l.
Standard stocks meanwhile maintained
a firm front, and the stability induced
some later buying, which carried the Pa
cities to the highest United States Steel
perferred advanced to 81 3s. Minneapolis.
st. Paul and Sault Ste. Marie preferred
moved up 2, Louisville 1 y, Ice preferred
IA and Consolidated Gas and Chicago
Terminal preferred 1.
General Electric fell off u and North
western preferred 4 a. Nashville. Chatta-
nooga and st. Louis extended its rise to
ten points and Metropolitan Street Rail-
way 3A. Republic Steel preferred rallied
to 43 at o'clock.
Drops Eleven Points Since Friday.
NEW YORK, November pa six-point
decline in the preferred stock of the Re-
stock exchange today. making a drop of
II points since last Friday was accom-
panied by various rumors concerning the
corporations condition.
1t was said that a plan was under way
to secure additional working capital by
issuing new bonds, but of this a leading
director said he knew nothing neither
could he offer any explanation for the
severe slump in the stock
The regular quarterly meeting of the
directors will be held in this city on Mon
day next and it is expected that some state
ment regarding the companys affairs will
then be issued.