The times. [volume] (Washington [D.C.]) 1897-1901, 1900-11-06
them sold out their stocks before the
close with one and two points pr, S and
now have their bets as clear gain if Bry-
xa-ty

The shrewd market people generally
advise the selling of stocks tomorrow in
the expectation of a slump this week. NJ
matter which way the election goes. Al
ter this decline. due to profit-takinS, 1t
is generally believed that there will lie
the beginning of good winter bull mar
ket. The prosperity Of the railways and
of the steel and iron trade makes such
a market almost cer,a!n,y in the mind;
of many conservative peSp.e. And GER
tainly. too. this boom will not be due to
the election or defeat of either party,
much as the sound money Wall Street
people talk to the contrary. The real
buyers CT stocks. the big buyers, are not
basing their purchases on electi n TN cer-
tainties, but On the certainty that busl-
ness for the railways will con inue good.
There was little news regarding stocks
yesterday and little gossip except rtgari-
ing tine election ard the betting. London
was buyer of American securities on
balances. though net to q very large eX-
tent. The money lenders again worked
their tactics against he unfcr. unates wn)
had to borrow money over the election
! and had not provided themselves with
funds before The call loan rate was
jockeyed mp to 80 per cent at one time
and all the afternoon it was abcve II per
4
cent 1t is quite clear that this advance
in rates was not due to any real scarcity
of money and that il should have no G.
Eificance to investors or spectators. lie
certainty of easy money during the com
ing winter Is well-nish assured. Some
financial men talk CT the prcba bill y that
there will be an inflow of $50 coo. coo from
Europe before the end CT December The
shipment CT money to the interior IS over
-, aS,,--, flow Nrio hoo in
The few earnings statements that were
published yesterday were all favorable
| Perhaps the most interesting advances
I yesterday were in the. grangers and the
Pacific securities, although they were not
so large as those in the easily manipu-
lated stocks like Sugar. Brooklyn, Rapid
Transit, Tobacco. and Federal Steel.
Atchison. preferred went as high as 16.
and closed at 20 SIS. thus making a new
high price record. The common stock was
quite as buosant with IS is for the top
quotation and SO ga for the close. Bur-
lington went. as high as 1870 and closed at
l2y rs, st. Paul advanced to lis and
, closed at III "a. and Rock Island got to
ITO Is and closed at that price. Union
Pacific common was the most buoyant OF
the Pacifics as the Atchisons were of the
grangers. 1t sold up to GO 3-4 and closed
at the top notch. Missouri doomed up to
/ So and closed at the top, and Northern
! Pacific common went as high as IS L.
and closed at that price, Southern Pacific
was very strong These securities are all
among those that inventors have been
absorbing for many weeks in the expecta-
tion Of fine advance in prices. The earn
ings statements of the past three months
throughout the West have been so much
better than was expected and SO much
larger than dividends call for that careful
people have great faith in the stock.
Sugar was more buoyant than at any
time recently, closing at the top price,
126 SIS. with large net gain. Tobacco
doomed up to 80, but failed to hold its
own, closing the session at 9s. Leather
common and preferred both advanced and
also Rubber common. The steel securities
generally were doomed up at the open
ing, but they failed to hold their own
at the best prices, closing, however, with
good gains. The trust securities general
ly and especially Sugar and the steel
stocks were doomed because the insiders
could do 1t without much trouble and
thought it well to make a good showing
Of confidence" Nothing new was heard
regarding Sugar, but there have been tips
for several days that the insiders are in
tending to give the stock a good advance
If the general market is strong. The steel
securities are being absorbed steadily on
their investment merits and the insiders
have a very large part of the entire is
sues.
Much bu'lish gossip is heard regarding
Federal Steel common and preferred in