The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1911-11-23

Moved UPWARD
Reaction, However Followed
Opening But Stopped
Higher

New York.. Nov. 23-Quotations
moved upward. during the fore part
Of the trading today In stocks, and
downward, in the late session. The
other. In the cases of the more
prominent issues. net changes
small, though general In the direction
of a higher lever.
The early advance was character
lied by the same tendencies as those
which marked yesterdays rise, chief
among which raj the speculative
movement in the copper issues. Bull
traders operated less confidently than
yesterday and the feeling that the
markets strength was to some extent
in which profits were taken when ia
vorable opportunities were presented.
Representatives Of the commission
houses said that general speculative
buying remains small. In the after
noon the market showed some signs
of WEAKNESS and did not respond to
manipulation of special stocks. The
downward movement of prices in the
late trading reflected the growth Of
bearish sentiment which. however. was
due to the opinion of professional
traders in regard to the technical. po-
sition Of the market, rather than to
any change in the broader outlook,
which on the whole is regarded as
brighter.
A stimulating influence lies in the
declaration recently of increased divi-
dends by several railroad and indus
trial companies. Declaration Of an ex-
the Cincinnati, New Orleans and Tex
as Pacific today made another addition
to this list Of increases, which 1t is
expected will stimulate investment
buying. Statistics published today
showed that within the last year the
number Of stockholders in representa-
tive corporations had increased large
has been 1900 and that Of the United
States Steel corporation as estimated
officially between 1000 and 5000 while
q long list of others gained 1000 or
more.
The further rise during the morn
ing in the copper stocks was stimulat-
ed by excited trading in the Londan
metal market and strength in the To-
cal market. with transactions here
above IS cents.
The Steel stocks also showed
strength. Declaration of the usuat:di-
lvidend on Republic Steel preferred was
accompanied by a rise of 1 2-8- In the
stock. as 1t put an end to reports that
the dividend vas in question. The
weekly reports of tlle iron trade jour.
mails dwelt upon the heavy demand for
railroad equipment. orders already
booked having provided manufacture
ers with work for several months.
In spite Of talk of higher: prices.
there has been no actual Improvement
and profits are accordingly compare
lively narrow. .
The expectation Of gold was contin-
ued today with. the engagement Of an
additional $500, 900 for shipment to
Canada. It has said all Of the recent
shipments to the Dominion have been
for payment for one issue of bonds
and that no other call for gold fol
Canada has been made.
Tho bond market was IRREGULAR. To.
tai sales. par value ,$3,o16,000.
United States twos coupon and the
thrces declined 1-8 on call.
Money Market
London. Nov. 23-Preparations for
month-end payments reduced the sup
pl. yof money and made rates dearer
today. Discounts we're also higher.
The stock market was quiet but
steady. Copper shares were strong
features on buying Of continent and
America, -. Copper advanced five
Fights. Foreign rails and foreign
rails and foreign bonds were steady.
The new Chilean loan was quoted at
lone per cent premium. y. .tt" =
/ American acknowledgement firm and
iduring the forenoon prices advanced
on good buying. The market contin-
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