The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-11-08
New York Stock Market.

Wall ST., New York, Nov. S-STOCKS=
Large gains were made by inactive stocks
in the early trading today but the ten
dency of the market leaders was down.
ward. Union Pacific declined u and Unit
ed States Steel II. National Biscuit dis
played the most conspicuous strength.
Opening with a gain of IA, its advance
was quickly increased to AZ. Brooklyn
Union Gas gained and Consolidated Gas,
American Telephone and Great Northern
preferred 1 and Canadian Pacific North
ern Pacific, st. Paul and Rock Island
large fractions
The trend of prices became definitely
downward and some of the strong special
ties and railroads lost a large part of
their gains. United States Steel was sold
in huge amounts, one block of 5000 shares
changing hands when it was making an
Intellectual rally The price went to IA
below Mondays closing, touching 59A.
Union Pacific scored a similar loss and
Reading broke IL B. and o. moved up
IL, Federal Mining AZ and Philadelphia
company points.
Irregularity prevailed in the stock mar
ket through the morning. Movements
were hesitating and contradictory but in
spite of large gains by inactive industrials
the list as a whole developed pronounced
weakness. Heavy selling of the specula-
tive leaders depressed prices of these
issues and the market seemed to possess
report was without effect although it
established a new record. Market OBJ
servers regarded the movement of stocks
natural in view of the recent advance and
the reductions of the short interest
Selling pressure relaxed during the sec
ond hour. Prices, however showed little
inclination to harden, speculation becom-
ing almost stagnant around the new low
levels and the professionals stopped sell
ing. few stocks showed independent
but their movement was ignored
by the general market. Rock Island stocks
advanced to IL on rather active deal
ings
Bonds were steady.
The market developed a gradually firm
er tone but dull on the rally. The monthly
figures of the Copper producers showing
a decrease in stocks on hand of nearly
six million pounds and a large increase in
foreign and domestic demand helped the
Copper group.
lowest figures were current at o'clock. |
United States Steel and Reading were
down 15s, Union Pacific ~ and some 9TH |
er stocks a point moro. American Canad- |
Ian preferred rose over two points.
The market closed weak, professional |
selling increased in volume when there /
prices went lower all around. Steel and /
Reading ruled "a below Mondays close |
and Union Pacific points Texas com
oany suddenly slumped AZ to 70, the low
est figures in years. Copper issues dis
played marked weakness in common with
1ther stocks despite the improved charac-
Ter of the monthly report
New York Money NIarlsr.-
New York, Nov s.-MONEY-Money on
,all steady, 21s@21z per cent; ruling rate,
~ per cent; closing bid 27S per cent; Of
cred 2h per cent. Time loans easier; so
laws 31b per cent, and 80 days 31zq3A per
sent; months, 31zd34 per cent
CLOSE: Prime mercantile paper 40
" per cent
Sterling exchange firm with actual bus
ness in bankers bills at $4SS.75 for so
laws and at $4.s6.95 for demand. Com
SII,VER-Bar silver, SIC; Mexican dol
ars, zec.
oNDS-Government bonds, firm; rail-
Dad bonds, irregular.
New York Sugar and Coffee Market.
New york, Nov. S.-SUGAR-Raw NOM
nal. Muscovado SO test, $4.75; centrifugal,
g test, $525; molasses, SO test, $3.50; re-
lined, easy.
Cotton Market
Galveston Tex, Nov. S.-COTTON-i
MARKET unchanged, Slice