Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-11-06
ADVANCE |: ' IN STOCKS
The New York Stock Market Reflects
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 true index to the political
situation President Mckinley is all
ready as good as erected. The men of
millions are SO thoroug hly convinced
the republicans will win today that
they went 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
that quotations Were 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 30 per cent high
er now than then The difference is eX-
planned by the fact that. while Alr. Me-
lNinieyss election 10 the presidency
was considered TO be uncertain four
years ago, his re-eiection now is re-
ga.ded as a foregone conclusionili the
financial world.
Stocks would not be where they are
ii the business interests of the United
States felt any doubt about today re-
suit The big fellows Who pay cash
for what they buy are not the kind TO
take big chances.
1t is true that the market usually
discounts the results Of big events be-
fore they happen. but Il is generally a
pretty reliable barometer. Wall street
spends a great deal OF money getting
information and the men Who make
the prices are in close touch with the
politicians Who direct the battle Har-
ing the Advantage of all this informa
ton II the present campaign, the big
fellUws have run prices up TO a point
that would not be warranted except Oh
the belief that the country is 70 have
u continuation u the business cpnd37
tons that have existed during the past
three or four years.
A comparison OF the prices of stocks
at the close OF business yesterday with
the closing prices the day before the
last presidential election indicates the
sdifference in the condition of the two
periods There was uncertainty four
years ago asto the future value of Tbs
scountr%ss money, and good stocks We're
10 be had at about The buyers price
Now II is the olner way. To-day there
we're feW stocks for sale. and the mar
Mo bought them mad to Ray up,
-Four years a gaa standard stock ike
81. Paul could be had for ss5sa share
Today ii Was more than $40 q sllgrs
higher The reason is that stl road
has had four years of phenomenal husi-
ness ard has millions of dollars III cast
for investment after having spent 9th,
er millions i'll extending and betterint
Hts giinss.
Northwestern is sixty points highe,
Tor much the same reasons. Buriinet
ton is up nifty points and Rock islant
has advanced from 61 TO no. The Pa
#cific railway shares show even mor'
! surprising gains.
| Ii is much the same With the stock
| of the eastern roads Baltimore 4
| ionic for Instance, has been reorgan
lizet! from one of the weakest proper
lties in the country to dividend payer
New York General has added nearl.
1 $40 a share TO its price, and, like sew
erai other lines has been able to in
crease its dividends.
While the railroad stocks We're stroni
lin the market they We're not stronge
nor more prominent than the ndustri
/ ais The better class of these securi
ties were Well taken thru the day. a
they have been during the last month
4 The reason for the demand has bee
nothing more than the firm belief o
Investors that President Mckinley wi
be. reelected.
/ officials of several of the big indus
/ trial concerns have given semi-ofticia
4 promises of dividends on commo
i stocks in the event Of republican sue
cess today AS a. result of this expec
3ltation the steel stocks We're particular
lily well bought yesterday, and price
4 We're advanced to a higher point tina
4 they have touched for some time. Fed
eTal Steel common, Tin Plate, Nationa
lSteel and others in the group sailed up
4 ward on blying by men who expeC