Omaha daily bee., 1905-11-23
NEW YORK STOCKS AND BONDS
Market is Irregular, but Active at Several
New Points.
PROFIT TAKING PROCESS CONTINUES
Conditions Suggest shifting of
Speculative Ventures on
PrOdigious scale to other
Securities.

NEW YORK. Nov. 22-There was even
more irregulauty In the market today than
profits nrst began to show a pronounced
erect. rms process of profit taking was
continued on an enormous scale today. The
speculation, however was very animated
ana embraced a large number OF differ
ent issues. The volume Of dealings rose to
the largest aggregate OF any day on the
The action of the market suggested a
shlttlng OF speculative ventures on a pro-
alglous scale from one set Of securities
10 another. Selling out at some points was
accompanied by wholesale buying at
others whether the two operations came
from the same sources, or sources acting in
concert. however was not clear There
We're some indications to suggest that one
powerful speculative party was selling out
ments IN the market. Inc profit taking
was conspicuous In some OF the stocks
which had been the most effective leaders
Tor some time past and whose movements
were OF proportlonate influence on specula-
tive sentiment. Reading and American
Smelling were the nota BILE examples In
this class. The demonstration of the fact
that there was limit to the possible eN-
tent OF the rise in these stocks seemed
to cause a candidly expressed surprise
amongst certain portion of the specula-
tive element and to dash the speculative
spirit accordingly. In the latter part Of
the day the influence of the realizing in
these stocks rather dominated the market.
There was notably frank disposition In
the usual utterances supposed TO represent
that sharp reaction in the market was
to be looked for, after the violent ad-
contamination would be deferred for some
time. This was accepted in some quar-
tiers as an indication that very considerable
realization of speculation accounts have
been already achieved and that a back
turn in the price movement would not be
regarded with apprehension in such quar-
tiers. But the furious trading a. new points
in the list revived the spirit of speculation
In other quarters. Brooklyn Transit was
the center OF interest and the market
methods employed In the days operations
in that stock suggested the resumption
of a veteran speculative leadership. The
heaviest buying in that and i'm other stocks
which moved upward most rapidly was at
tributed largely to houses having Inn
portant Philadelphia connections, while II
was the common supposition that large
realizing sales were made for account of
various western centers. There was little
actual news to account for the various
movements in the market and the current
discussion had more to do with the ru-
mored formation of new pools and conf
binations to operate certain stocks. Mis-
souri, Pacific was notably affected by such
rumors. Amalgamated Copper became
very active with the announcement OF an
advance in the price of crude copper. ON
the other hand, copper in London was re-
dictionary. as also was silver, and this
seemed to have larger influence on the
movement in Smelling. 1t was not until
| late in the day that movement in Erie
Atchison and Union Pacific suggested any
general attention to the railroad list.
| The money market continued tranquil
| and reflected no preparations for tomor.
| rows Offering Of Sl2500,000 Of New York
| CITY bonds nor any effect from the firmeI
| tone of foreign exchange. The rise In cot
| ton was assigned as the cause for tirmei
! exchange rates The market made some
! recovery from the active selling movement
| of the last hour, but the closing was ir
! regular
| Bonds were steady. Total sales, pal
| value Sc, 1000. United States bonds were
| all unchanged on call.
| Quotations on the New York STOCK eN
| change ranged as follows: