Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-11-01
Pennsylvania Railroad Stock Feature
of Market.
STRONG ON INCREASED DIVIDEND
Shorts Have Apparently Abandoned
Raids on Market.
GENERAL MARKET REPORTS
special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, November lin the alb
sence OF London market, and with the
larger interests committed to a policy Of
| inaction, today's changes in prices were
not significant. Opening prices were
steady. but irregular, and the later trading
reflected similar characteristics. At one
| tilne the short interest seemed to De moro
nervous than the opposite account and
moderate covering movement set in.
This action inspired the hope that tina
end of the campaign would see prices
sustained, because of the fear of the con-
sequences of remaining short of stocks over
Tuesday. Dizziness soon became pro-
nounced, however, and this, after all, was
an acceptable Development
The chief event of the day was the
strength of Pennsylvania railroad. due to
the declaration of the regular ~ per cent
dlFldend and an extra dividend of l per
cent.
This increase puts the stock upon G
per cent basis. and is significant because
OF the known conservatism of the manage
ment The effect of such confidence was
seen in all parts of the list to the extent
| Of a steady undertone, but no new buying
was inspired except in the case of the
| stock directly benefited. The buying in
| ms property was unusually good ana was
sara TO be for Investment account
The absence of pool support caused \ do
| cline in Missouri Pacific. while Northern
fdcl!lc was given some attention by in sid.
interests under promises of early action an
me subject of an increased dividend om
the common stock.
The money market was inclined to be firm
uilder limited demand, the call rate get
ting up to . per cent. Time money - in
| comfortable supply under the call rate ard
me street Is encouraged by this evidence of
financial confidence.
IL Is estimated that SO 1000 900 haya
besn released in payment of the interest
on government bonds and the usual No
Nemoer dividends on private CORPORATIONS
Inc reinveStment of this money would
nave been sufficient to have caused a sharp
fal!E We're politics not consideration. AS
II Is the sum Will simply be transferred
from the accounts of corporations to pri-
Vate depoSitors and will await The result of
next weeks vote.
1t is hoped that the week will pass with
out activity in the stock market and that
conservatism vii! prevail both in buying
ana IN selling. The larger interests have
set the example in this particular and the
large purchases made during October are
Ne!u, but not increased. Instead of trading
IN stocks interest Centers in the prepara-
uon Tor Saturdays sound-money parade
and in the betting on Tuesdays result
Inc local community has exhausted itself
apparently IN nnding funds for the short
enu OF the wagers at > to l. Prominent
" all street houses Were Offering these odds
even in this way the supply was not ma
terially depleted. The conservative gIe-
ment of the street shows some tension as
tile END draws near, but refuses to sell on
a large scale The condition is unusual and
by some regarded as overSanguine