Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-11-06
IN STOCKS
The New York Stock Market Reflect
Confidence in Election of
Mckinley.
Men of Wall Street Show Their
Faith in Republican
Success.
Comparison Of Prices Of Stocks
Now and Four Years
Ago.

New York, Nov. 6.-If the stock
market is a true index to the political
situation President Mckinley is all
ready as good as erected. The men of
millions are so thoroughly convinced.
the republicans will win today that
they into the market yesterday
and bought stocks right and left.
The feature of the dealings was that
about % per cent of their purchases
We're for cash, which usually menas
that the stocks so taken are for invest
ment, to be put away in strong boxes
for the dividends they are expected to
bring. The result of this buying was
quotations We're advanced from a
half a point TO two points all thru the
list. This was true not only here but
in Chicago. Boston. Philadelphia and in
all cities where standard securities are
bought and sold.
The situation at the close of the
market yesterday was entirely differ
ent from what it was on the day pre-
ceding the last presidential election.
Stock values average so per cent high
err How than then. The difference is eX-
planned by the fact that, while Mr.. Nc
Kinley,s election to the presidency
was considered to be uncertain foul
years ago. his reelection 10Y is re-
garJied as a foregone conclusion in the
financial world.
Stocks Mould not be where they are
Il the business interests of the Unite6
States felt any oup about today's re-
suit. The big fellows Who pay cash
Cor What they buy are not the kind II
take big chances.
1t is true that the market usually
discounts the results of big events be-
fore they happen, but ii is generally a
pretty reliable barometer. Wall street
spends a great deal of money getting
information. the men who make
the prices are in close touch with The
ing the advantage of all this informa-
ton in the present campaign, the bis
fellows have run prices up TO a point
that would not be warranted except on
the belief that the country is 10 have
q continuation of h business condi-
tons that have existed during the pas;
or four years.
A comparison OF the prices of stocks
at the close of business yesterday with
the closing prices the day before tins
last presidential election indicates this
Inference il the condition OF the twe
periods. There was uncertainty foul
YEARS ago as to the future value Of tn
country's money. ard good stocks Wer
10 be had at about the buyers price
Now ii is the other a Today Their
were few stocks for sale. and the maj
who bought them had TO pay up.
Four years ago a standard stock lik,
ST. Paul could be had for $40 a share
Today ii was more than $40 q silar
higher. The reason is that the roat
Las had four yeats of phenomenal busl
ness and has millions Of dollars IN casl
for investment after having spent 9th
er millions in extending and betterinj
its lines.
Northwestern is sixty points highe
FOR much the same reasons BurIing
ton is UP fifty points and Rock Islam
has advanced from 81 TO 10. The Pa
citic railway shares show even NOR
surprising gains.
1t is much the same with the stock
.iof the eastern ROADS. Baltimore <
Ohios for instance, has been reorgar
lied from ms of the weakest proper
ties in the country to a dividend pave
New York Central has added nearl
$40 a share to its price. and. like Sc,
eral other lines. has been able to il
crease its dividends.
While the railroad stocks We're stron
in the market they We're not strongt
nor more prominent than the industr
ais. The better class of these secur
ties were we'll taker thru the day, 9
they have been during The last mont
The reason for the demand has bee
nothing more than the firm belief
investors that President Mckinley wi
be reelected.
Officials of several of the big indu'
trial concerns have given semi-officii
promises of dividends on commc
stocks in the event Of republican su'
cess today. AS a result of his expe'
~tation the steel stocks We're particula
lay we'll bought yesterday, and pric'
were advanced to a, higher point thu
they have touched for some time. Fee
eral Steel common, Tin Plate, Nation
Steel and others in the group sailed u
ward on buying by men who expe