Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-11-10
FINANCE AND TRADE
Effect Of the Settlement of the Vene-
zuelan Dispute.
FAVORABLE INFLUENCE ON PRICES
Oversubscription to the New York
Loan.
-. = -. ~
GENERAL MARKET REPORTS

Special Dispatch to The Esering Star
NEW YORK, November l0-Today's
stock market opened under extremely aus
picious conditions. the news of the day be-
ing wholly of a character favorable to
prices. The triumph OF American diplo,n-
acy in the Venezuelan boundary dispute
concludes, in a manner creditable to all
. concerned, an episode identified with the
81 eatest speculative hardships of the year.
While the progress of the controversy has
been, in the main, favorable to the result
now officially announced. our international
relations are vastly improved by the knowl-
edge that the AFFAIR has passed into history.
The over-subscription to the new cit,
loan ives factor inspiring confidence in
the theory that money Is now seeking
profitable investment, and that stocks will
be taken up once the supply of bonds is re-
duced to a point making prices prohibitive
The sale Of four million government
bonds by the Bank OF England and the
payment for the full amount serves as an
explanation for the recent strength of the
foreign exchange market.
A reduc ton of IL per cent in posted ares
followed the announcement that the final
payment had been made on this transact
tion Telegraphic advices continue to indi-
cate sn increasing business revival and
conditions point to an active holiday seq
son, for which preparations are already
well under way. Traders were willing To
concede the natural force of these facts.
but argued that the recent advance in
prices justified a more substantial reaction
than had yet been recorded.
Securities purchased yesterday were sold
in considerable volume for professional ac-
count. and declines extending beyond frac-
tional limits were recorded in many in
stances. "
The buying at the reduced level was su-
perior to the selling, commission houses
having good supply of orders slightly
under the market. Concessions cannot rea-
sonably be considered as an evidence of
weakness. in view of the accommodating evl-
dences of national prosperity.
Manhattan was marked up between sales
on the familiar rumors of consolida on
with the Metropolitan Traction. DeniaIs OF
, the rumors are abundanty distributed
from official sources, but the stock move
ment is not embarrassed thereby. The re-
cent statement of the conpaBy'S earn
ings do rot justify present prices. and 1t
Is difficult to see how these items are to
be Immediately benefited by any of the
schemes now proposed.
Western Union was advanced to a new
hlgh level under good investment demand
Inspired by satisfactory earnings. Rumors
of possible bond issue by Burlington in
spired some realizing in that property, but
the failure 20 trace the reports to a re-
liable source subsequently resulted in a re-
ViVal CT the buying movement.
me disposition TO buy low-priced secur-
tiles is still marked among the larger op-
orators who are accust or,ed to a careful
cohsidera ton OF the interes. items
For this reason sales of the higher priced
stocks, which have recently had subs.an-
tlal rises, are likely to be made and the
proceeds invested in double quantities of
the less expensive issues. London sold 81,
Paul and bought Nashville and Southern
preferred, and local traders followed the
suggestion to a marked degree. Money
was in good supply throughout the day
around per cent, and is not likely to ad-
vance materially in the near future. owing
to the steady return of boarded funds.