Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-10-06
Wall Street E1uecting Republican
Success Next Month.
IMPROVED PRICES ARE LOOKED FOR
Contest for the Presidency Of the
Reading Road.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star

Special Dispatch to The Evening Star
NEW YORK, October 6.-Prices opened
strong and fractionally higher this morn
Ing. without regard for London's fractional
concessions In the market for American
stocks. The sentiment Of the trading ele
ment warrants q belief in higher prices
during the month. The fashion Of selling
on all rallies has been abandoned In favor
Of purchases on declines. Political influences
are being carefully studied and watched by
spectators generally, who regard the ap
preaching elections as the next legitimate
incentive to activity. The street Is conf
dent that an anti-administration victory Is
assured this fall. and that further silver
and tariff agitation will be thereby averted
A theory in Wall street does excellent duty
for a condition, and traders are likely to
begin general discounting Of their present
views which will result in better prices.
The strong closing today augurs well for
improved values at the beginning Of next
weeks business. There Is still a strong pro-
improvement in both sentiment and condi-
tons Is likely to enlist some good outside
support. ST ould this support fail a rally
Will be substituted for q sustained effort.
but will not affect the immediate tendency
Of values. While this element of doubt ex-
lists quick profits will be the order Of the
day with careful traders.
The contest for the presidency Of the
Reading road is growing quite spirited. as
the date for the closing OF the company s
books approaches. Only one week remains
for stock transfers, and trading in the
stock today was based on the theory that
the demand would have a favorable in
f1uence on the price during this time On
moderate dealings an advance Of ! IA per
cent was recorded.
The buying of Western Union for the ac-
count OF a prominent operator marked the
price of that stock up is per cent. There
Is moderate upward movement in pros
pect for this property, II the character of
recent buying is correctly interpreted. St.
Paul and Burlington each gained 1-2 per
cent on small transactions.
Chicago Gas was again the feature Of the
market, selling up / So per cent to as IS
on good buying by competent judges of its
value. A further rise Of per cent is said
to be contemplated by those identified with
the present movement. No valuable bene-
hts have recently accrued to this prop
erty ana no sudden expansion of business
has been disclosed, but the dominant in
terests in the stock are now willing, after
successful campaign on the short side,
to let real merit aid in the establishment
of its market value
The banks have lost about $4,000 in law
full money during the week, all in legal
tenders. The most important change In
averages is reflected in an increase of near
ly s., 10000 in the loan account. This in
crease is more than reflected in the de-
posits which are 100000 larger than the
net result of the changes previously men,
toned above. The loss in cash holdings and
the added sum made necessary by the in
crease in deposits reduces the surplus re-
serve to $j9,50O,OO0. The statement in de-
tail shows: Reserve decreased $3.50, SO.
loans increased s2.716.20O, specie increased
500, Co.. legals decreased ISIS, 500, deposits
increa.ed s2.967.0O0 and circulation in
crea sed $33S 200