Show BUSINESS AND I FINANCIAL NEWS N 1 Disappointment Over Terms T erms of f Railroad Settlement I 4 LITTLE DEMAND FOR STOCKS STOC S MONEY ONBY MARKET WAS YESTERDAY YES ERD Y FOR POR LOANS t New York Nov No 14 Professional spec rs wet wece we much muck disappointed over the effect of r last nights t announce ft t of o the terms e of r the h settlement t e of I tee railroad controversy in the north west That does not mean that the settlement does doe not insure nit ail the benefits benet ts claimed lor tor it The spee were bound to sell soil stocks stock upon the tb definite announcement in any ny event Their disappointment today tody was due to the fact that a very light outside demand Af for stocks was attracted by the announce announcement ment The watchful bears were alive to the tha situation and when they saw BIX aw tha tIa iA to realize r li j I put out extensive short to t take away the mark t from those seeking to liquidate and then fiercely raided the market to dislodge stop atop loss orders order and enable them to take profits on the short side aide How large Jarge an element the short selling was in the weakness of the market wee was wa disclosed d when the bear bearg began be an to cover during the last hour Substantial eries arias were made in alt all the active stocks and at some points amon among the and the specialties there were ware complete recoveries A notable facto in the days trading was the comparative rathe immobility of the United States teel stocks tocks The tranS frans tranScontinental continental railroad stocks and some of ot the which have been arder manipulation recently for advances were most mo t affected by the selling although the list developed we throughout due dur leg Ing the course of the day The recent re ent speculation has been largely based upon the thc Northern Pacific settle settlement settlement ment ent and with the th details detal of that known professionals argue that anat an aU the LU gotta news hews was out while the disquieting con ditton in the tho money mone market make it un desirable de to hold stocks Some of the recent mn price ri levels e 11 taken in connection with the h terms m of the Northern brn Securities e company organization make it evident that those terms are k disappointment dl to the buyers at the prices indicated There was a rather dubious feeling also o oas as to how the not im ha immediately ImmedIately mediately concerned in the settlement are to benefit by It The further adjourn adjournment adjournment adjournment ment of ot the Burlington directors was as made by the bears to play upon the fears of timid holders The e money o market was firmer today bo boe bof f t at rl 1 ti InQ ma f th tia tl lO tt M I showing the effect t of the gold outgo for the th first time It is expected that fur ther gold will be exported on Saturday although the easier easter tendency of ot money in I Paris and the reduction in the buying price of gold in London served to ad advance advance vance which gold the rd level li exports Ji of are exchange ch profitable rf here at atThe The statement of ot the foreign trade published today throws some light upon the present of the ex cx exchange exchange change situation It is true that the total of October exports although nearly Sit below those of last Jast October are the largest for any previous in the history so that in spite of the decrease compared with wilh October of ot last year the notable trade balance in our favor still remains But recent events show clearly that ex cx exchange exchange change bills were sold in this market marcet long since in anticipation of ot the autumn sup ply DIy of bills to be brought upon the mar ket by our export trade and in process of borrowing foreign capital This tutee tut a short sh rt interest in the exchange e marKet ape and trade balance in our favor is less Jess than October of or last Jast year may fur furnish furnish furnish nish an index of ot how far tar the banks were out in their calculations when they were selling exchange e short The railroad bond market was weak in sympathy with stocks Total sales par value United States bonds bon 8 were all Unchanged on the last Jut call Bond Quotations U S ref s Is Hock Val US ref L N uni 48 I TT S s a MAY s A jg IZI 52 U S coup M lit C 1st Inc 39 U S n 40 reg 1 M U A S L I l l lU U TJ S n M r K T P 46 U S o 0 M K T s Is IsU 82 U 11 S o cou lliN Y 1 C Is U S is rag 17 IN Y C g u IT S H Os coup IN N J C g r 5 Atchison g 45 iN Pac I Atchison N Pac 2672 72 22 B O 0 N W consol consul B 0 O 35 9 95 1 B O 0 con Reading g 4 48 98 q Can So Sot 2 S L I M N C of Ga is consol consul fi Se ic ll tt C of ot G Is inc 73 S L A S F P 48 95 C O 0 4 S L S W Is l 97 fi C A 3 Iii S L Is S W Is 8 80 SO C B Q n 45 93 S A A P 48 88 as C M N St P ISo So Pac 45 94 g So Ry R Se 12 C N W con T I Pac lal Is sol sot T S L 1 W V 82 2 2 C R It I P U Pac Pan C C C St U II P cony 1411 L Ij K g abash Is 1118 Chi Term 89 II abash Colo Cob St So 81 80 I Wabash aba h deb dab B 69 00 D B R H G West t Shore 4 IJ Erie Brie p lien W IV L E B 92 32 Erie Erle g J 45 88 28 Wis Cent 88 38 sp F P W D C Cont Tob 48 84 14 1434 1 Stock Quotations Atchison 70 Pennsylvania Preferred So Pc Pac Ol B So Ry 33 Preferred T PacIO Pac 40 Can T S L 8 W 3 20 Can So SI 8 Preferred 34 C 0 Union C A M 30 Preferred tl 01 Preferred IT 1 abash 20 C I 1 A L 4 Preferred 37 Preferred 74 W IV 8 L E B 13 1 C K E 1 2nd nd preferred 30 C G W Wis Cent 11 A preferred 38 Preferred 42 42 B preferred 49 40 Adams C 8 N American C R B 1 I United States OS C T T 11 19 11 Preferred 31 Amal Co U M C C C S L 91 A C P F 27 Cole Colo So 13 Preferred a 82 1st preferred 56 A L 1 Oil 16 nd lad pr preferred 5 Preferred G 45 Dela Bela Bud A S a Ref D Yo I Preferred D B R G 46 Ana Aim MIs llIn Co Preferred et e 54 B R T 17 E C Ti A a T t 1 1st st Con n lad 2nd preferred 50 Cont Tob pfd G 0 North pid 1304 Gen Electric Hock O luco e Sugar 42 Preferred 73 ock Fiock CoaL 34 Ill mt Int Paper 30 I Iowa Central t 44 Preferred 70 Iowa Cn Cent pfd t mt Power 87 I wA I B W 6 Laded JC Gas I Preferred 1 Nat Biscuit 42 Ii 14 Is N NAt Nt Lead 19 I Man L Nat Salt It t B I I Met St R Ry ll Preferred 61 I Xu Nez Cent nl American 93 I Xex Mex Nat 1214 1114 Pac Coast 14 X M A i St Pae Fec MaU Mafi I Mo Pate Pao Peoples Gu Gas l N M K T 20 P Steel Car G 43 Preferred 33 Preferred 88 I N 73 J 1 Pul PaL ear N Y Rep Steel 15 N A West 51 PreC Preferred 48 Preferred 10 Sugar 1 N Pac T p C I It 01 Oat West 3 U B B 0 P Co 14 ReadIng Bending 41 Preferred d 72 t l preferred iT U S Leather IH 1134 2nd pre preferred erred is 55 Preferred 81 I S L S F 30 U S Rubber 1534 1st preferred 80 Preferred 49 I nd 2nd preferred U S S Steel C 42 i s L 1 S W IV I 28 Preferred Preferred 18 West Union H 93 St Paul Preferred liS Total i |