OCR Text |
Show UP ST OPENING, PRICES GO DOWN Misgivings as to Money Market Cause Distrust on Wall Street. NEW TORK, Nov. 14. The course of prices was upwards in the opening dealings deal-ings in the stock market today helped by the advances In London in the American department. American Smelting was carried car-ried up IV Northern Pacific 1V. The trading was moderately active. The market yielded after the first few minutes and sold below yesterday's closing. clos-ing. A 2-polnt decline in Reading facilitated facili-tated the fall in the general market. Misgivings Mis-givings as to the condition of the money market and an opening rate of 16 per cent for call loans were the factors bearing on prices. Tennessee Coal. United States Rubber first preferred and New York ' Central gave way 1 and Reading second preferred IV Railway Steel Spring and the Kansas & Texas stocks rose 1 to Hi and Great Northern preferred and Havana Ha-vana Electric 2. When Reading met support sup-port and succeeded in regaining its loss the general trend also became upward, but was of little consequence in most stocks. Money on call went to 20 per cent again, but stocks made additional gains and the market was more active. Bonds were irregular at noon. Speculative Issues made recoveries In sympathy with stocks. The upward movement encountered no serious opposition apparent indifference o the higher monev rates and the activity of the pools sending prices still higher. Buying was of a very broad character and had a good appearance, owing to the weak standard stocks that were absorbed. There were advances of a point or more among the Pacifies, trunk lines. Iron and Steel Industrials and Amalgamated Copper Cop-per and 24 in Railway Steel Spring and AUIs-Chalmers and 3'i In Allls-Chalmers nreferred. After the more urgent requirements for call money had been satisfied the rate dropped to 8 per cent and stocks made a further substantial advance. Gains of a point or over were well scattered throughout through-out the list and Included many of the favorites. fa-vorites. Many earlier laggards came Into the advance. Pennsylvania was sluggish and the United States Steel stocks Improved Im-proved less proportionately than kindred stocks. Hocking Valley reached lul. a rise of 4. There was enough room profit-taking to cause some slight price recessions and offerings of-ferings diminished at the lower prices, and trading became dull. The rise carried car-ried Reading, Canadian Pacific. Metropolitan Metro-politan Street Railway. Brooklyn Transit and Locomotive I over yesterday, and Wabash preferred 2S- Toledo, St. I-nm end Western lost l1. and th- pre f err d .. The whole list rcae vigorously again in the late dealing, and the closing was active ac-tive and strong. St. Louis Wool. ST. IXH'IS. Nov. 14. -Wool-Steady: Territory and Western mediums, 263Jc; fine medium. 22ft2tic; fine. Iti21c. Chicago Live Stocvk. CHICAGO. Nov. 14. Cattle Receipts. 20.000; market steady: beeves. $3.Mi6 25: cows and heifers. I1.16Q4.40; Blockers and feeders. $2.00fi4.15: Texans. $3.4)(g4.&: Westerns. $3.25ffi4.80. Hogs Reeelpts. 23.-000: 23.-000: tomorrow, 82.000: market MjKtc lower: mixed and butchers, $4.606S.0O; good heavv, $4 tS'56.00; rough heavy. $4.4"&4.55: light" $4.fi04i4.9O; pigs. $4.aa"4.86: bulk of saies. $4.7S4.90. Sheep Receipts. SO.OrO; market steady ; sheep, $4.005.; lambs. $4.50Q7.3. New York Sugar. NEW YORK. Nov. 14 Sugar-Raw. quiet: fair refining. Zc: centrifugal. 9H-test. 9H-test. 3 7-ltic: molasses sugar. 2c: refined, quiet- crushed. $n.00: powdered. $4.i0: granulated. $4.). Coffee Steady ; No. 7 Rio. 8'48?c. Omaha Live Stock. SOI'TH OMAHA. Nov. 14. Cattle-Receipts. 4C00; market steady to stronger: native steers. $3.65&5.5u; cows and heifers, $" tXViM.Ta; Western steer. $2.&ViM.60; Texas steera. $2.fi&3.60: cows and heifers. $2(hkS3.4: canners. $l.tO2.23; stockers and feeders, $2.25'&3.80: calves, $2.5oS5.25; bulls, stags, etc.. $1.60fr2.2S. Hogs Receipts, Re-ceipts, 8800; market 6(1 10c lower; heavy. $4Sft4.75; mixed. $4.7Q&4.75: light. $4.72"V 4 8; pigs. $4.2614.1)0: bulk of sales. J4.7f) 4 7f.. Sheep Receipts. 11.800; market Htendv to strong; fed muttons. Western. $o.2SftV;.irt: wethers. J.V01V&6.4O; ewes, 4.50? 6.00; lambs. $6.257.25. Boston Wool. BOSTON. Nov. 14 The wool market is quiet. The large mills are showing no desire de-sire to tnke on further supplies of much consequence. There have, however, been some good-sized operations in original bags of Territory wools, mostly of medium me-dium grade, Ht 27'ji28c by worsted and woolen mills. New York Money. NEW YORK. Nov. 14 Money on call rasier, per cent; closing bid 6; of fered 7Vj per cent. Time money firm, sixty six-ty and ninety clays. 7fi7'4 per cent, srx months per cent. Prime mercantile paper. pa-per. 6 per cent. Sterling exchange Irregular, Irreg-ular, closing firmer with actual business In bankers- bills at $4.85.201 4.85.35 for demand de-mand and at $4.81 4Ofi4.K1.50 for sixty days. Posted rates. $4.83..83, nnd $4.M!V&4.87. Commercial bills, $4 .KHi4.8l.2-V Bar silver, 3H,e. Mexican dollars. 43i Government Govern-ment nnd railroad bonds. Irregular. Chicago Produce. CHICAGO. Nov. 14. -Notwithstanding the continued high price of call money on Wall street, a firm tone prevailed at the opening of the wheat market today, due chiefly to private reports received from Argentina alleging further damage there by wet weather and frost. Offerings were comparatively light. May opened U'SV'W V higher at 8SVftSSi.ifi'S8V-. After touching SJiH.'ftXXVic. the price advanced to 88'ic Minneapolis. Duluth and Chicago reported receipts of 1587 cars, against 752 cars a year ago. The market for corn opened firm In sympathy with wheat. May opened ViV.c highej- at 4S'h4i46'Sc. and for a time held within the opening range. Oats were firm In sympathy with other grains. The volume of trading was small. Mav opened unchanged to ,c higher at 22ifi32'c. and sold at 32Va32'?. A decline of 1ilc In the price of live hogs had a weakening effect on the provision market. May pork was off 7' at $12.70; lard was down 6c at $6.97V: ribs were 2'c lower at J6.7WU.771 Close: Wheat December. 8fl'v& 8614c; May. 88V. Corn December, 44Tc; old. 45'4c; May, Oats December. 29Tic; May. 32r. Pork January, J12.52H: May. $12,671-. Ird-January. $t.8fl; May. $6 97',. Ribs January. $.'i0; May, $6.72Vi. Rve Cash. 71(S'72c. Flax Cash. Northwestern. $1.(W. Timothy March. J3.453.30. Clover Cash. $13.00. Barley 37yS 55c. |