Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-10-24
Stocks Reached a Higher Level
Again Today.
GOOD BUYING In LONDON
STANDARD Railroad Shares TOOK
Lead in the Demand.
GENERAL MARKET REPORT3

Special Dispatch to The Evening Star.
NEW YORK, October 24-Higher prices
from London and increased demand
from commission houses resulted in a
strong opening in today's stock market
The familiar process of realizing in one
group while new purchases were being
made in another was again in evidence.
During the opening hour the selling in
Northern Pacific assumed larger proper
tons. and traders We're led to believe that
yesterdays sharp advance had exhausted
the demand.
Around 81 the decline was halted and all
offerings quickly absorbed. Until the ten
dency to realize had been overcome no eff
fort was made to improve upon yesterdays
prices Toward midday. however. the de-
mand was resumed and the best prices of
yesterday exceled by fraction. The fric-
ton between this company and Great
Northern has been adjusted and in conse-
quence new high prices are predicted for
both properties. Union Pacific after a pc
Rod of comparative neglect, was taken in
hand, and sold up over 63, making new
record.
The Coal shares were in better demand
as the result of increasing confidence in an
early settlement of the strike. The Read
ing issues were improved under buying of
a mixed character in which a fair volume
of commission business reported Penn
sylvania was marked up under buying of
good character, but protit-taking was in
evidence at the advance.
The soft coal roads were more active and
under the leadership of Baltimore and
ONO advanced easily.
The issues named have not had the ad-
vance originally predicted by the inside
banking interest but the delay in the move
ment has not shaken confidence in its ulti-
mate appearance.
The low-priced stocks which have been
neglected heretofore are now being sought
out in the general scheme of lifting the
level of the entire market In this con-
nection Ontario and Western has attracted
some attention, and in certain quarters
vague hints of a reduced capitalize ton,
with accompanying benefits, are to be
heard.
The arguments are frapmentarv hut
those who make them buy the stock and
to this extent at least pending favorab BILE
developments are confirmed. Other
called cheap stocks are doing about as well
nficant.
The industrial group was active, but
| failed to attract much attention, except
American Sugar. in which a strong pool
was said to he operating.
Pacific Mail was advanced under the
rumors of a change in ownership, the
Nanderbilts being credited with large pur-
chases in the interest of control. Recent
rumors have invariably sought to make
the name of Vanderbilt a fulcrum for lift
ing the entire market to its new level.
[ inform denialS regarded as q mere
detail. The banking interests now behind
the market are really using the elections
as the basis for their activity.
There is a difference of opinion as to
which side of November will witness the
elimination of the advance. Conservative
judges are inclined to he belief that the
retrograde movement will follow the cleo
tons, and that the average of the week
before will be higher than the average level
| OF the week after.