The evening times. [volume] (Washington, D.C.) 1895-1902, 1900-11-05

There was big and active market this
morning, with prices advancing in all
parts or the list from q high opening
Gains IN some cases amounted &c nts
OF more before II o'clock. 1t is natural
to suppose that election influences cf va
rious kinds caused the little boom. but
undoubtedly il is d mistake TO ass TT as
the Republicans are doing, that the ad-
vance is due wholly or in large part to
Wall Street confidence in the election of
Mr. Mckinley tomorrow. ManipuIa, ion
by the Republican cIiques, which are COM
posed OF the strongest people in the
street, has been devoted wholly to pro-
ducing exactly this kind Of market, fer
us effect on the election. The advice of
careful spectators, even in the Repub-
Hran ranks, today, was that profits should
be taken today Those VINO were NEST
confident of Mckinley election said tia.
they would sell on Wednesday S oon after
the opening, if their belief is fulfilled as
they expect to see a reaction, due 10 the
selling OF these Republican cliques- In
the event Of Mr.. Bryans election il is be-
lieved that there Will be a quick slump
OF prices for few points on account CT
the timidity Of Wall Street bus that this
decline will be quickly overcome The
advice Of many important people is to
hold stocks if the Democrats are sac
cessful rather than to attempt to get cut
with the public on Wednesday viii will
almost surely mean a bottom prices.
The securities that showed the greatest
buoyancy We're Brooklyn hdpid Transit.
Sugar, ard some CT the Steel Trust issues,
notably Federal Steel, common This fact
bears out the contention that manipula-
Ias Is responsible for the greater part of
the boom. These stocks are notably the
ones that 1t is easiest to manipulate But
there IS another thing that this strength
ID
helps TO indicate why stocks are going up
The Democratic bettors are buying stocks
heavily in the confident expectation of
winning money whichever way the cleo
ton goes. Tammany is known TO be in
yesting in Brooklyn Rapid Transit and it
Is supposed that the general public is US
ing Sugar in the same way. BROOKLYN adj
yanced well above 60 during the opening
hours Sugar got above i25. Federal Steel
common, went to Al
The steel securities generally look 70 be
a good purchase on their merits independ-
ent of the election possibilities The trade
reviews tell Of revival in the steel trade
and OF higher prices. 1t now seems proba-
Bile that the $26 a ton demanded by the
trusts for rails may be secured generally
from the railways. The present prices of
these securities are at very low level.
the common stock to SO on confident buv-
ing Those securities are accounted
among the best on the entire list. strictly
on recent earnings and the prospects for
the coming year. Burlington advanced
to 129 IL and Rock Island to 10. The
granger list generally has been most sat
isfactory in its strength recently.
The Pacific Mail statement for Septem-
Der is better than any recently issued
showing the first gain in net earnings for
several months in fact. The increase was
$32,S94, while the decrease for five months
has been $147, us. 1t is stated that the
Government contracts of the company are
beginning to net 1t large returns and that
its miscellaneous business also is improv-
ing. The stock was strong this morning
above A.
Missouri Pacific had one of the largest
jumps at the opening to 56, and before II
O'Clock it was at 90 L. Friends of the
company say that estimates based on the
earnings of the company last year are
entirely at fault and that the present
earnings showing of the company is
considerably better than per cent