Article Text
EXCHANGE ON Small Changes From Saturday's Closing Figures at Today's Opening. NEW YORK, Nov. 24.-The stock market showed irregular changes from Saturday's closing figures at the opening this morning, though generally they were for fractional amounts, the marked exceptions being gains of 1% in Jersey Central and s/4 in Canada Southern, with a loss of % in sugar refineries. The market, however, developed considerable weakness and everything, with but few exceptions, sold off, and sugar dropped 1% Rock Island 14, Missouri Pacific 1 and Northern Pacific and Canada Southern 5/4 each. A SUSPENSION ANNOUNCED. The suspension of Edward Brandon was announced on the stock exchange this morning. He was one of the oldest and most prominent members of the exchange, having been admitted on September 8, 1852, and was considered one of the wealthiest brokers on the board. It is said that all through the recent decline he was a bull and carried large lines of stocks, but when prices touched bottom, after losing an immense amount of money on the bull side, he turned bear and sold stocks short and was caught in the rapid advance that followed. He was for number of years located at No. 19 Broad street, but now his office is at No. 2 Wall street. The sales of securities under the rule for the account of Brandon, the broker whose suspension was announced just after the opening, made materially lower prices for Jersey Central, Oregon Improvement, Nickel Plate and some others, Jersey Central dropping from 102 to 981/2 and the others even more in some cases. The general list was inclined to rally, but these losses checked the rising tendency and the pressure to sell was increased toward the end of the hour. the market at 11 o'clock being very active and weak at the lowest prices reached. THE RUN ON THE BANK OVER. The run on the Citizens' Savings Bank here, which lasted several days, is practically over. The services of the police are no longer neceseary and this morning there were only about fifty depositors who called for their money. Some of the first depositors who drew out their money, the amounts of which were very small, wanted to redeposit, but the bank officials declined to have anything more to do with them on the ground that they were among those who inaugurated the trouble. PRICES RECOVER AFTER NOON. Money is firm at 6 per cent. In the stock market after 12 o'clock the effect of the sales under the rule and the suspension passed away and prices began to recover slowly, while the amount of business showed a material falling off. In most of the list, however, the early losses were recovered before the expiration of the hour, Missouri Pacific and the Villards being leaders in the advance. Rock Island also showed great strength, but after a drop of 3 per cent it failed to recover all of the improvement. The market at noon was comparatively quiet and strong, at slight declines from the opening prices in most cases. ON THE LONDON EXCHANGE. LONDON, Nov. 24.-The prices on the stock exchange at 12:30 p.m. today as compared with Saturday's closing prices show an advance of 3/4 for consols for money, an advance of 3-16 for consols for the account, an advance of % for Atlantic and Great Western first mortgage trustees certificates; United States bonds, 4s, 122:41/8, 104% At the close of the stock exchange American securities were quoted a little below the best prices of the day owing to selling orders from New York. Other securities were very steady.
