The evening times. [volume] (Washington, D.C.) 1895-1902, 1900-11-07

The expected happened in the Stock Mar
ket this morning. After the Republican
landslide it was a moral certainty that
there would be heavy buying of stocks by
the public and by the shorts who, despite
the recent strength of the market, were
not all crowded out before the election
The opening prices were from a point 10
three or more points above the close on
Monday. The large gains, too, were in the
securities where they had been looked for
the Steel Trust stocks the New York tTac-
tiCns, Tobacco, the Atchisons, where the
short interest was large Pennsylvania, aud
one or two others of the favorite railway
securities. The looked for occurred, too,
IN a later slump on proft-taking by the
cliQues that had made the recent boom
All this happened during the first hour
Of the market. 1t was a question of much
interest and much doubt what will hap
pen next. Many believe the decline will
extend several points further; that. in
fact, the top prices for some time have
been reached, with all the good news
in" Others take the view that there is
TO be immense prosperity for the trusts
and for the great railway, and that as a
result OF immense earnings and b g divi-
dends nearly ali the active securities Will
have a rapid advance in the near flu
ture to a much higher level. II the Re
TO result from another Republican Ad-
ministration is well founded, this would
seem TO be inevitable. And no less will
the fulfillment of the belief of the Demo-
Gratis that four years more of Mckinley
ism will mean growing power for the
trusts, to the disadvantage of the people
lead to the same result.
1t is interesting to note that the plan
of the astute Democrats who bet Oh Bryan
at 1 20 1 and ) and bought stocks TO hedge
has worked TO a nicely, giving them hand
some profits on the election. The steel Sc
curities and the New York fractions were
the stocks most chosen for this campaign,
and all OF these had sharp advances last
week and Monday, and opened with bulges
this morning, giving people who bought
week ago from three to five points profit
It is we'll to be shrewd, even if you
will be nervy enough to bet on the losing
side.
The steel securities were the features of
the opening. The fear of Mr.. Bryan's
trust plank has kept these securities far
below the level which they would have
reached under normal market conditions
The removal of this fear and the certain
ty that the trusts will not be interfered
with in their finest schemes for advancing
prices and making money now gives every
stimulus to the friends OF these securities.
The steel trade is in NEST prosperous
condition. The steel rail pool price of
$26 a ton for rails has been acquieseed in
by the railways generally and according
TO Mr.. Gary's prediction the railways will
purchase 1000, coo tons of rails during the
coming year, giving the trusts a profit of
$4,000, coo on this enc item alone. All
alcng the line the same immense profits
are to be made, both on goods for domes-
tie consumption and fer the foreign trade
though the home prices will be the high
est in many instances. Federal Steel
common, jumped from II on Monday to A
this morning Steel and Wire advanced
in the same way from Sc 3-S TIC So Ma
tional Steel jumped three points. Ten
nessee Coal and Iron and Colorado FueI
and Iron both advanced well. Later in
the day there was some disposition to sag
away from the top prices.
Pennsylvania made the best opening gain
among the railway securities getting to 1856
immediately although II had closed at
IS9 1-2 on Monday. The stock is one OF
those en- which the bulls place their Iarg-
est hopes, ana for good reasons. The dec
lsration Of the extra dividend the other day
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