The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-11-08
THE WORLDS MARKETS
Daily Record Of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT


New York. Nov. THE days market
undoubtedly reflected the conviction of
operators in securities that the election
uncertainties out OF the way the strong
conditions Of the country Industries n
will advance. This conviction 90 far as
It has found reflection in the market was
almost purely a professional one. for the
outside interest. AZ seen by orders
through commission houses. was very
small. The professional element showed
no disposition to take profits pending
the holidays, although there has been
sufncient rise In the last two days to
turn the balance of operations to that
side in any closing up Of speculative ac-
counts. The evidence was rather on the
side of covering Of shorts. The trading
proceeded in a very desultory manner dur
ing the early hours of the day. although
the selling for foreign account. which
was fairly liberal. was well absorbed
and prices IN the international stocks
were firmly sustained. Southern rail-
way preferred was a conspicuous ex-
ample. but as the day wore on the mar
ket gained in activity and strength and
embraced an increasing list Of stocks.
The contemplation of the very heavy vol
ume of bank exchanges and the enormous
export business In cereals had their in
fiuence on the bullish tendency, as did
the continued favorable report of rail-
o earnings. especially from the west
and south. An Increase of 1900 tons In
the eastbound freight movement from
Chicago was a feature. Handsome In
creases In earnings were also shown by
Southern railway. Northern Pacific and
Great Northern preferred. the latter
showing $3s6 .941 more earned for October
than last year. The stocks which are
fuuior IN the hopds which we're fayoriteS
in the heavy bond business to-day felt
the advantage of that movement, Atchi-
SON advancing over a point. Tobacco
showed the largest activity and gained
over two points. Metropolitan street
railway and Edison Illuminating of New
York are up two points or over on the
talk Of advantages to the former from
che use of its conduits for use In electric
Nght purposes. Notable movements were
an advance OF seven points I'm American
express and 1--WE and a half points In Pull
man. Northwestern gained nearly two
points and Lackawanna two points. There
were dealings In odd lots of quite a num-
her Of high grade stocks. But the most
conspicuous movement of the day was
1n bonds. In this department there was
enormous absorption of the bonds issued
for the purpose of reorganization of vari-
Gus companies and running from 80 to
100 years. OF these the four per cents
were the favorites, and the Atchison is
sues were easily the leaders. gaining 1
per cent. in the price on very large de-
mand. There were individual blocks of
these bonds sold of a par value of 49,
600, S1o5, 900 and two of 500, 600. Thee u.
p. As were less prominent. but still ac-
tive were Northern Pacific prior liens
and Norfolk & Western general. The
Erie prior lens and the Reading As,
which might be placed in the same class,
were heavy. Marked strength and ac-
tivity was shown also by the new b.. &
@. As, when issued. and also by the new
b. & O. 3Ik's. Dealings in Southern con-
sol SIS continue very large.
There was a good demand as well for
many other bonds of The middle grade,
extended in some cases to the purely
speculative issues. Total sales. s.. 700. 900.
u. s. new As coupon and the 2s advanc-
ed u. and the old As and the new As
registered and the SIS Il in the bid price.