Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-11-10
Another Day Of Extensive Trading
in Stocks.
PUBLIC Is BUYING HEAVILY
Great Activity in the IndustriaIs-
The Bank Statement.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, November l0.-The trading
In today's stock market was again upon
the same liberal scale as that of yesterday.
Confidence seemed to increase in direct
ratio to the advance in prices and new I'M
dertakings on large scale were said to ba
on the verge of announcement. The market
has reached the stage at which large in
terests are enabled to turn round without
fear of unsettling the entire price level. 4
few stocks can be sold to take profits with
out forcing a general decline. Such con-
dition is especially favorable to big deals
and extensive and far-reaching combina-
lions. 1t seems certain that the present
opportunity will be utilized in some such
way. but whether it is or not the publcs
recognition of the opportunity will insure
a liberal buying demand.
The entire speculative situation is now
dependent upon the attitude of outside in-
terests. and realizing on any considerable
scale is not likely until the demand slackens
materially
The changes in the directory of Pacific
Mail have already led to sharp advance
In the price of those shares. and the new
strength in Union Pacific is credited to the
same cause. No details are given for such
an association Of interest but the suspicion
of close connection exists, and that is
quite sufficient in this market.
The strength of Illinois Central and Min
neapolis and St. Louis Is due to the same
cause, it is said. but here again details are
lacking. 1t Is believed, however, that an
increased dividend will be paid on the com
mon stock Of the latter and that the former
will control the property.
In the Traction shares much comment is
heard as to the prospects of beneficial
changes. and the entire industrial list is
the subject of impending deals. In view of
the fact that so many enterprises were
held up pending the elections it is quite
probable that the present enthusiasm is
due to the knowledge that the transactions
will be completed.
The impetus behind the present market
since Wednesday morning has rarely been
eGualed, and the slight recession at the
close of business failed to detract material
ly from confidence
The bank statement was a surprise in sew
erai ways The banks show net loss of
si,015,2O0 in lawful money, more than one
half of which was IN specie. In view of
the fact that large amounts of gold have
come in from Europe and the Pacific coast
the decrease lacks convincing explanation.
The trust companies may have it, but this
view Is founded only upon the fact thar
! the banks have it not. and the known fact
that the metal was received. Another sur
priSing feature is a reduction of s6,673. 500
in loans in spite of an unusual volume of
business
Again the trust companies are utilized
to explain this change but conservative in
terests incline to the view that many stocks
have been paid for and taken out of the
market Buying for cash has been reported
all the week. but it is not reasonable to
suppose that even the total sales for one
day were kept out of loans The net re-
suit Is shown by decrease Of sl,S44 $50 in
the reserve. bringing that item down to
S4,6O6,050. All things considered, the bank
| statements are losing their significance as
an actual reflection of the weekly banking
| operations.