Evening star., 1900-11-07
Prices Buoyant Under a Double Vol
ume of Business.
TENDENCY SHOWN TO TAKE PROFITS
Before Noon Nearly 100000
Shares Changed Hands.
GENERAL MARKET REPORTS

| special DlSpatcn to The Evening Star.
| NEW YORK, November 7-As a result of
| the all-night trading in London after the
| result of the elections was known here,
prices at that center advanced from 81 to
| s. per share before the opening of this
! market. In consequence of this response
| and the enthusiastic sanctiening Of the mo-
tive the local market was buoyant under
double volume of business. Owing to a
well-distributed belief that realizing would
follow the high opening level there was
| a tendency in some quarters to take profits
on prediction purchases. At the end of
the first-half-hour 1t was apparent that the
buying was better than the selling. and
that strong interests were adding to recent
purchases
The excitement at the opening was in
| tense, and specialists refused orders in the
active issues, owing to the pressure OF the
demand. The initial recorded transaction
was for a single hundred shares of Amer
lean Ice stock. the much-dIscussed trust
property controlled by antitrust politicians.
Following this the demand for standard
shares was brisk, the size of the lots vary
Ing from 1000 to 5000 shares. Up to noon
IS0,0OO shares had changed hands at ad-
vancing prices. Commission houses were
large buyers, and confidence in values was
shown by Il demand for all classes Of Sc
curitieS.
1t would be difficult to determine which
property. if any, actually led the advance.
Northern Pacific common seemed to be
leading during greater part Of the day
under the influence Of the proposed increase
in dividend. The stock sold up rapidly un-
der liberal dealings and the hign prices
failed to deter buying. After the price
crossed 81 the demand was quite as good
as it had been points lower.
Inside Information is to the effect that
the public will be surprised with the COM
panys earnings in spite of the winter
wheat shortage Pennsylvania railroad was
very deliberate in the early dealings, but
developed great strength later in the day,
and advanced five points from Mondays
closing.
lington. Rock Island and stocks with SINH
lar records, showed steady improvement
under legitimate demand.
The Steel stocks were in general demand
and made substantial gains under enormous
trading. New contracts are assured and
season of unusual activity is predicted D.v-
laends at a conservative rate are to be
declared upo the common shares of such
corporations, and the preferred issues are
to be made attractive to investors.
The Traction shares were strong under
the leadership of Manhattan, the stock
named selling well over par and fnspirinp
confidence in the effort to keep it at q
premium level. All the news of the day
was construed to be favorable and no abate-
ment of confidence was encountered. The
ferceness of the movement must of neces-
sty lead to exhaustion in due course and
million-share day tends to hurry the pro-
cess. Value has not been overestimated,
however. and the advance is more likely to
pause than TO disappear.
The market is founded on prosperous
conditions and encouraging prospects.
period of great achievement lies ahead
and Americas best effort to realize on
opportunity will be made
The money market relapsed to familiar
rates. a. per cent money giving way to
per cent later in the day. A big market
phGy1n oil tv,,yN
1T is mere guessing to fix the limit of its
strength.