Cleveland daily leader. [volume] ([Cleveland, Ohio]) 1865-1873, 1865-11-07
FINANCIAL { COMMERCIAL,
MoxpAy EVENING. Nov. 4 1915

NIVNDAI GNENlNuS WV. o. 1900.
Our dispatches from New York Tonight
announce a renewal of the periodical ex-
element in Railway stocks, an event not
unlocked for during the past week or two,
and which was perhaps only postponed till
now because of the tightness in money. The
present movement is the result Of a " corner"
confined entirely to the spectators, and does
not grow out of a legitimate demand for in
vestment. During the past six weeks there
has been a heavy and constantly increasing
line of "short" sales put out by the bear
cliques of the Stock Exchange, in some in
stances involving more stock than had been
issued by the roads, and to "cover" these
they counted upon a stringency in the mo-
ney market which would force holders to
throw their stocks upon the market, with a
consequent tumble in prices, and had left
no effort untried to bring about his result.
The bull element, however, though saddled
with an enormous load of stocks, were strong
enough to carry them and maintain the mar
ket, and the result is seen in the condition
reported. The excitement today centered
in Prairie du Chen, of which it is reported
sixty thousand shares have been sold short,
| with only t~wenty-nine thousand issued. A
corner is also reported to have begun on
Cleveland Il Pittsburgh. The general list
of course participates to some extent in the
furry, all being more or less involved in the
speculation of the Exchange; but so far the
| hY,1G .of H. o.asko-,o-t - 90, 4La 4v-o eA,alrz
named. The results of the movement will
have no general influence, though it may
prove disastrous to a goodly number of stock
spectators On the short" side.
Gold to-day was without decided change,
but firm, closing at 147. There is very little
export demand, but the customs payments
are liberal, and in the absence of Treasury
sales the supply is short.
In local money matters there is no espe-
cial change. Currency continues close, and
bankers are doing very little in the way of
discounts, though the offerings of paper are
quite liberal. The mercantile community
is very much restricted in its operations by
the want of money, but bankers insist on
maintaining their present position with ref
erence to loans until in an easier condition.
Exchange is close and firm. There is very
little making, and the demand is fully up tC
the offerings. Rates are steady at par buy
ing and I premium selling.
Foreign commercial advices received to.
day, bringing dates to October 23d, are of 8
very encouraging character. In the English
MISUNDERSTANDING and provisions are re-
ported active, firm and higher, with a strone
upward tendency. This favorable turn L
the English markets, in connection with tn,
fact that the stocks are known to be light
will stimulate a brisk export of domestic
produce from our shores, and give at tn,
same time increased vigor to trade at home
1t is probable that in provisions especially
England will purchase unusually heavy du.
ring the ensuing year, the cattle plague hav
ing largely diminished her sources of suppl,
in this line.
In local commercial circles to-day Their,
was no noticeable improvement in business
and no change in prices. Flour continue
quiet, but prices are steady with a good de
gree of firmness. A moderate demand 70
car lots of Wheat, Corn and Oats is shown
at previous prices. Provisions are scare,
and firm. Butter is rather quiet, but price
are steady. Cheese is active, and the stool
both in market and in the interior is yer,
much reduced. Prices are frmer, with al
upward tendency. Highwines are firm, bu
the stock in market is very light, and Their
is none coming forward. Petroleum frmeI
The receipts and shipments at this poin
of Produce and Merchandise, during tn
tw%enty-four hours ending at Z o'clock thi
mornino wera aa f,IIou,s.