Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-11-01
FINANCE AND TRADE.
Stocks Opened Strong, Owing to
Buying Orders.
BROKERS LOOK FOR HIGHER PRICES.
Many Old Patrons Returning tc
Wall Street.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK, Nov. 1.-The lack of any
pressure to sell and the presence of a few
buying orders resulted in a strong opening
in today's stock market. The Improvement
varied from Is to per cent and was evenly
distributed throughout the list.
London's holiday restricted operations 70
some extent, but foreign houses are OF the
opinion that the selling movement from
that side is about exhausted. While foreign
markets are at present unsettled in view of
the probable Tightening in money rates, in
dications point conclusively to a probable
increase in investment buying of our better
class of securities
Yesterdays selling by short-waisted bulls
VIII nave a good effect on prices and rid
speculative circles of an extremely demon
alizing element
Loaning rates for active stocks are now
carefully watched by shrewd operators, as
indicating the extent of the short interest
These added charges for CARRYING ran up
during the day as high as per cent maxi
ing short selling extremely expensive and
probably Improbable. Commission houses
uniformly favor the long side of the market
and advise purchases on all concessions.
The continual appearance of interests that
have, until recently, held aloof from Wall
street. is one of the encouraging features of
the present situation. Re-enforcements
both of men and money, are daily coming
into the market and taking an active part
in the proceedings, which must eventually
result in improvement and activity.
Western Union is row the most active
stock in the regular list and finds consider
able support around 50 and seems to be
pegged one point below that figure. The
revenues Of the company are mending rap
idly from the effects of the general depres-
sion throughout the country and will soon
be reflected in the price of the stock.
Among other prominent features OF the
day were Northwest, which gained j per
cent to los 1-2; Missouri Pacific gained IA
per cent to 81 1-2, Manhattan sold up TO
133, gain of 3-S per cent, and Lacka-
wanna advanced 3 Ia per cent to l72.
Sugar again led the advance in the in
dustrials. both as to the volume of business
and the extent of the improvement, selling
up to 10l "a. a gain Of 2 IA per cent from
the opening. Chicago Gas gained ] per
cent to 20 IA. and Distillers gained a SIM
liar amount to 80 IA
The market developed a tendency toward
dullness during the afternoon, but prices
held well in spite of the neglect.
Owing to Tightening I'm the London dis
count rate II is probable that the bank
rate will be increased at tomorrow's meet
Ing of the board of governors. Posted
rates for sterling were reduced to 4sl LA
4S4.
Call money was quoted at per cent and
time accommodations were unchanged at s
and 6 per cent.
Exchanges at the clearing house agere-
gated So4, 621,01, balances s., FOL 46S, and the
subtreasury's debt balance $3.50, 65s
Inc loan committee Cancelled the last
100000 of the artificial currency known as
clearing house certificates and balances
once more will be settled in cash.
The best prices of the day were recorded
in the last hour on good buying by the
room.