Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-10-26
FINANCE AND TRADE,
Wall Street Confident of Early Re-
peal by the Senate.
BUYING ORDERS KEEP UP THE MARKET
Bears Looking 70. a Reaction IN
Prices.
GENERAL MARKET REPORTS
pecial Dispatch to The Evening Star.

| Special Dispatch to The Evening Star.
NEW YORK Oct. 26.-The market was
adversely Influenced at the beginning of
today's business by lower prices in London.
but soon recovered and bounded away in
the same lively fashion that has been char
acteristic of the past weeks speculation.
Reactions have resulted from every attempt
to realize, but buying orders have invaria-
bly, been In waiting for the attendant lower
figures and have prevented any consider
able decline.
The short interest has been increased as
the result of the more tempting figures of
the last few days and the assurance that a
reaction must of necessity appear sooner
or later. There is no evidence so far that
the boom has eliminated and a strong un.
dertone of surprising strength underlies the
| entire speculative structure. Stocks are be-
ing taken up one at a time and pressed for
ward as worthy successors Of the favorites
of the day before. The diverting of atten-
ton from old to new fields does not mate
rally weaken the position of the former.
although for the moment IL is compare
| lively neglected. The market is not in
huenced by any news other than the as
surance that the repeal bill will at an early
date be given an opportunity to vindicate
Its title and perform the service for which
1t was created
Foreign exchange was decidedly STRONGER
today at 43 IL for demand and a fu-l6cr
advance late i'm the day to 49, The dis
count es rate IN London Is rising and inlica-
tons Point to an advance in the Bank OF
England rate at the next meeting of the
board of governors.
Money on call continues to rule In the
time loans are still to be had in rare cases
at .. with the prevailing rate unchange, at
per cent.
The industrials were well to the front I'm
today's trading. and scored some substan-
tial gains. National Cordage sained z l-a
per cent to g. Chicago Gas moved up 4
per cent to 81 1-2. General Electric gained
5-S per cent to 81 rs. and sugar was active
around l02 l-2.
The regular list was led by Illinois Cen
trail. with gain Of per cent to s. West
ern Union gained PEI cent to g. and Bur-
lington advanced / to SC rs
The exchanges in the clearing house TODAY
were SIS, 5is balances, 1850 433, and the
sub-treasury's debt balance, s64O, 24o.
The noon statement of the loan committee
reported the cancellation Of $4,000 addi-
tlonal certificates, and called $4,000 for re-
tfrement tomorrow, reducing the amount
now outstanding to s1.sS5.OOo
Chicago Gas broke per cent in the last
nour on some heavy realizing, and the rest
OF the list sold eff in sympathy Some
liquidation was noticeable for the first time.
ana the room Immediately remodeled its
views to suit the times. and aided in the
decline.
There was no reason assigned for the
break beyond the fact that most stocks
snow handsome profits to traders on the
long side and the sudden unloading natur-
ally weakens the market temporarily. Con-
ditions that prompted the original rise are
still good. and will probably follow in the
hne OF precedent and make good the slight
setback at the close OF today's business
The London Market.
Special Cable Dispatch to The Evening Star
LONDON, Oct. 26.-The bank reserve in.
creased $4,000 pounds today although 2ss.
600 pounds were exported. For the week
$4,000 pounds went to the continent, 100.
600 pounds to Egypt and 400. 900 pounds were
received from Australia. The reserve is
nearly 100000 pounds. Today 100 900 SOW.
ereigns went to Egypt and l2,eoo in bar
goid was sold. The latter for New York by
the Lizards. The banks supply of eagles
is believed to be small, hence the firm
price The price of bar gold In the omen
market is fraction above rs shfllines
Silver Is at So ZIG and weak Rupee paper
Is down to 65 7-s on the trifiinR decline of
Indian exchanges
The issue 10 announced of 1000 OOOof sig
months India treasury bills. This will ab-
sorb the floating money in the markets
Discount rates have risen sharply The
best opinions agree that America will take
little more gold Americans close half a
dollar under the best price on profit scalp-
Ing. The feeling is hopeful The foreign
market was nat. but recovered.