The times. [volume] (Washington [D.C.]) 1897-1901, 1900-11-11
STRONG bulge IN PRICES
Extensive Outside Buying Causes
Advances in Stocks.
Dealings ON mn Enormous Scale and
Nearly All Quarters of the Market
thin Railway Sharc~-Rnnk state
ment Regarded a. Unfnvor7bIe.

NEW YORK, Nov. 10.-The public has
taken control of the stock market. Evil
dence of this fact has been continuously
repeated on the stock tape from the be-
ginning of business Wednesday morning
until the close this noon. The election
created new influence affecting values
of far-reaching effect and also imparsing
fresh force to those of favorable char
acter that already existed.
1t would not be surprising if the pres
ent movement in securities continued
without noteworthy interruption for some
time to come. 1t certainly will continue
as long as the present buying power is
undimirished The extent of the dealings
in the two hours of business to-day indi-
Gated that if the session had continued
until o'clock the total transactions
would have been in excess of 100000
shares.
London was disposed TO buy stocks PAR
ticularly Baltimore and Ohio, and the
execution Of orders from that centre
stimulated the domestic demand. In con-
sequence the market fairly boiled on the
publication of the bank statement, which
in many quarters was unfavorably cen
strued. The significant feature OF that
statement is The comparatively large de-
crease in the loans. in the face of the
tremendous speculation on the stock eX-
tschange The most singular feature is the
loss of over 100000 in lawful money.
This was entirely unexpected.
Ono thing is certain. there has been no
large withdrawal of lawful money from
this city during the week either by the
interior or the Treasury. The decrease
shown by the statement is. therefore, mis-
for he
financial community are concerned. 1t
NAV be the funds have been transferred
to trust companies or in other ways taken
from the custody of the banks. The net
result brings the surplus reserve down
to si,606, 600.
II should not be inferred from the small
ness of the last item that an active money
market is impending. Considerable gold Is
still in transit from Europe 10 this coun-
try and further amounts from Australia by
way OF San Francisco are due to arrive in
this city the latter part of next week. The
controlling factor in the money market is
the placing of our international account.
This mornings extraordinary market
presented a large number of movements.
any one of which in ordinary times would
be regarded as sensational. Chief among
these wss a net advance OF s S-S per cent
in Pacific Mail. Advances of Ia and 2 1-2
points. respectively, took place IN Mime
apolis and St. Louis preferred and common
on reports that the dividend upon the COM
mon will be increased and that the prop
erty is likely to be taken over by one of
the larger companies with which it con-
meets.
There was revival Of speculation in
United States Leather common that lifted
the price Of that stock nearly points. The
market for the iron and steel issues con-
tinues to reflect the growing improvement
in the industry upon which they are based
In the railway list the heaviest trading
was in Southern Pacific, Union Pacific.
Atchison issues, Reading first preferred
and Wheeling and Lake Erie second pre-
ferrcd.
The closing was strong. AS compared
with the final prices of last Saturday the
entire list is higher.