Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-11-02
Some Selling of Stocks, but No Serir
GUS Effect on Prices.
SHARP ADVANCE IN MONEY RATES
Brokers Preparing to Tide Over
Election Uncertainty.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. November a-I,andon 70
stunned business this morning. with prices
at a higher level than the local closing o..
yesterday. Traders bought "A few stocks
and the undertone was strong under a lin
TIED volume of business. Here and thor,
commission houses sold a few stocks ..
timid or cautious clients and the big pools
supported their specialtes. but did m.
force them to the 'front.'
The street simply marked time and dis
Outraged any pronounced movement un.l
the elections are passed.
kumors that an attempt would be maga
to decrease the betting odds as a means ~
ohsetting the good influences of tomorrow,
sound money parade resulted in a win
holding of money in the hope that such lR
opportunity would be given for closer rate.
A calling of loans by some of the banks
and a demand for increased margins and
a reduction in the percentage of induSlrIsl
collateralS caused a temporary furry in tn,
money market. One loan at per cent
was made during the time this shifting W.
in progress, but the rate soon dropped back
TO ) per cent One of the largest banks in
the street offered money freely on the WY
down. This furry in the call rate made a.
most no impression upon the price of stocks.
The general level of the market was
maintained, and there was not the slightest
indication of any falling off in confidenrr
The weekly movement of cash indicates
that the banks will gain about S1.s12.., nl.
The amount is small, but shows an absence
Of any scare in the interior. 1t is not hk..-
ly that tomorrow's bank statement Will
play very important part in the market,
since nothing but the elections are discuss
ed or even considered
In few instances brokers were raid
as sellers of preferred stocks and buyers
of the common stock of the same COMPANY
In these cases it was argued that the adj
haa
cheaper issue and the amount of money
risked over the elections materially reduc-
ed: Atchison a feature of trading of
this character. The Pacific gro;lp was
mn under limited dealings but the move
Elent was largely professional. The indus
ulal shares We're we'll supported. and there
was but little effort made to liquidate
holdings.
During the final hour the money rate
again advanced to the highest point of the
day, but at this time prices We're unusually
hrm. There was no increase in the selling
on account of the higher rates As all
loans made today go over until Monday the
advance in rates is partly due to the two
Gays OF uncertainty instead of the one day
usually provided for in call loans
Mondays rate will likewise reflect nor
only the supreme suspense of the elections.
Out VIII carry over close holiday As
only one full day remains before the cleo
tons the campaign record at the stock
exchange is made up and Wall street at
least remains firm in its convictions and
VIII vote in the interest of a profit on the
biggest line of long stocks. purchased at
the hlSneSt level ever recorded in the pres-
ence OF such grave risks.