Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-10-21
Higher Range of Prices in London for
Americans.
HAD GOOD EFFECT On THIS side
Some Realizing Was n 81, in
Pullman Stock.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, October 2l.-Today's mar
ket was strong and. in the main. profess
sionaL London was encouraged by reports
of success in the Transvaal. and sent over
range of prices above the local parity.
The short interest bought in some stocks
during the opening hour, but later fears of
bad bank statement were responsible for
some nliscelIa peDus selling.
Realizing sales were conspicuous in New
York Central and Pullman, but as an offset
to these sales some rather good buying OF
Union Pacific and Sugar came to the front
as a sustaining influence.
The Puliman-Wagner consolidation, II Is
said. will take on some important and
favorable changes prior to its being sub
mitted to shareholders This view was
mainly responsible for the demand which
was encountered at the low level In Union
Pacific a movement of some significance
seemed to have been inaugurated and the
low priced stocks are in favor at the close
OF the week in consequence.
The many important developments of the
week, which have been attributed to the
Vanderbilt interests, have been construed
in such a comprehensive way as to revive
the much-discussed transcontinental pro-
ject which will bring Union Pacific perma
nenuy under the banner of this great rail
road following. Union Pacific has merit
on its own account, of course, but since the
market is to be taken out of its rut by the
new activity Of the Vanderbilts there ~ill
be few movements not attributed to that
source, however justiiable the placing of
the responsibility may be.
Enough has been disclosed during the
week to show that unfavorable money
market conditions have not been allowed
to interfere with the maturing of certain
important plans for future execution. Wall
street traders have forced down the indus
trio tsaRr
property the list, because call money
rates were high and bank reserves were
low. The conditions warranted a halt and
the public obeyed. Traders forced down
prices. but failed to liquidate any save the
margined accounts of the element which
follows instead of leading.
The leaders have taken note of the pros
perity of the country and have had less
to do with daily fluctuations. In Offices
and counting rooms plans have been or are
being developed which cannot fail Of good
results in the long run. While fears Of gold
exports are in the air, and while bank re-
serves are low, there will be no haste When
the large interests proceed cautiously the
smaller ones may well wait. Hence It is
that the more conservative of commission
houses have become optimistic only to the
extent of recommending purchases on de-
Cines.
These purchases should give the prefer
ence TO the standard shares. There are
possibilities for profits in the market quite
apart from the industrial department. The
experience Of the spring months is scarcely
likely to be duplicated. Even in the best
shares there may be disappointment in ex-
pectng a steady advance. Traders are
hopeful and the public are becoming so.
The bank statement, upon which the final
RAINY IN prices was based, shows an in
crease of S253, 20 in reserve
Loans Were reduced S5.358,oo0 and the
loss in lawful money is about 81 $50. 900. all
in specie.
A decrease in deposits of $3.50. 800 ex-
plains the increase in reserve and shows
that the banks continue to strengthen them
selves by decreasing their liabilities and
not by requiring an increase Of cash