New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-10-23


There was some outside buying in the security
market to-day and prices made further progress
toward higher evel. the majority or active
stocks closing at net gains. Commission houses
have not yet received any large speculative or
ders and they do not expect many until after
the election. as the majority o. rep. able houses
in the Street have not encouraged speculative
operations this period. while the Inherent eau
ton Of most men in ante election times and
stiff money market continue To be effective OBJ
structiOns TO heavy speculative movements IN So
curities. 1t is to be noted however mat "l'hh
the last few DAYS. and more particularly to-day.
the stock market has shown indications OF grow
ing more in favor with the outside element which
rDrbans y.ill not wait for the election before en-
taripo actively into operations. The majority or
men in the Street agree that the cleo tion OF MI.
Mckinley by "a large electoral voc viii mean
,uuch TO security values; the majority of men in
The Street believe that Mr.. Mckinley VIII re-
ceive a large electoral vote ana. putting THESE
opinions together. some buyers VI htocKs' drawer
han o.hers gee every possible reason for buy
ing al the present level Of values The strength
in the market this week has developed the iact
that the short interest in stocks sees DANGER
obead in its position Conditio.s do not favor
operations for the short account. and only some
extraordinary event can bring any material
weakness
lions there was an increase in dealings in stocks
and bonds to-day, and the business was better
distributed than in a considerable time although
Mo ,rincpal business continued in the leading
sneculative favorites. Such /eocks as Jersey
central Chesapeake and ONO. Denver ana W.
C:rande preferred, Canada southern. Colofauo'
Fuel and Iron and United states Cordage Whicn
have recently been practically hfeless eKhipiten
a moderate degree Of activity. and more actiVity
,h,n in severa. weeks displayed by New
work. Central. Missouri Pacific. Pacific Mall
United states Rubber Kansas and Texas pre-
ferred and Northern Pacific preferred
The stock market Indifferent to an ad-
moo Of l ner cent in the Bank OF Englands
minimum discount rate. and also unanected ID!
another break in the price OF wheat IN inc IoCai
and Chicago markets: II ~ not ehptcted Una. o ~,
Pank Of England will be able to stop gold exports
IA This country and the break In wheat does NOT
take away any strength from the siehilcance oi
the current cereal movement 1es'eIuay an
today's declines in whea: were fortunate oc-
currences in view Of the present condition or the
money market, which Is not favorapie 10 eN-
travagant speculation either in the produce OF
security markets. A check TO wheat speculation
viii benefit the market. especially as II VIII brhg
in new European buyers and consequently IN
crease the movement OF gold'thls way lo-uas
receipts OF gold from abroad amounted 10 ~
S1o ono and about S4S3 900 was deposited at the
Snb-Treasury in exchange for lcgal-tender notes.
shorts covered extensively in the noon 'radlhs
in stocks and there was sharp rally tnrous mou,
the list but subsequent profit taking sales caused
reactions from the best prices or the daS;
American Tobacco was up ISs per cent anu
United states Rubber per cent, elsewhere
among the active list net gains being fractional
Shares of Southern roads were favorably affected
on reports ntimating a final ana satisfactory
settlement OF the rate troubles IN the ooulh'
and the Granger shares continued s'rohs, re,
necting the heavy movement OF grain Iotai
sales go 495 shares. against 226.I42 shares yes
terday
Closing prices for a number Of active stocks
compared with the final figures OF yesterday
I