New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-11-02
BONDS.

Acute dulness the leading feature in yes
terday's securities markets. Trading was made
up almost entirely Of the transactions Of pro-
fesslOnal operators, without important move
ment in any stock. and without decided ten
dency in prices. As rule quotations were
firm but the bear element continued to talk
about lower prices before the election. There was
certainly no indication of liquidation in yes
terday's market. while responses to requests for
additional margins the election
quickly made, and in some cases larger amounts
than brokers required advanced Com
mission houses cannot force good customers to
sell their stocks long as big margins are pro
vlded; but 1t may he said, however. as matter
of record, that many houses would prefer TO
reduce their lines Of long" stock over No
vember g. Commission houses not fright
ened, but they merely wish 10 exercise caution
in view OF the possibility of disagreeahle re-
suits for the Republican party. Present holders
Of stocks are apparently pretty confident set
Of men. otherwise there might now take place
some active liquidation.
Betting odds have an effective influence upon
speculative sentiment. and the enthusiastic
preparations for the big Sound Money parade
tomorrow contribute to the Cheerfulncss in
Wall Street circles. Money marke. conditions
and the general trade outlook add 10 bull SEN
timent while. with the exception OF election
uncertainty all factors tend to induce extreme
confidence in the market. Election uncertainty
has few days OF life left but its power as
a market influence appears TO be confined u
checking activity fears that il Will
a serious break In prices. A market reaction in
the last few days Of the compaiGn would be
welcomed by conservative interests, and fair
sized decline would he particularly appreciated
by the traders who put out short lines In ex-
pectation Of a substantial setback before the
election. Spectators who watch tho betting.
and who realize that the political betting market
seldom fails to reflect In its odds the winning
side. are not selling stocks short present.
not even the high priced issues and the specu-
lative favorites that are from TO II points
above the low prices Of the summer. Wall
Street is easily frightened. and current conf
dence in the political situation is significant
The important investment news OF the day
was the declaration Of an extra dividend OF l
per cent by the Pennsylvania Railroad Com
pany. 1t should be noted that the regular rate
has not been increased, and that the company
makes the extra distribution because the earn
ings warrant the payment. An extra dividend
at this time by OF the greatest railroad
corporations in the country means that the
company sees nothing ahead but prosperity. and
that the best railway men in the United States
are confident that Mr.. Bryan Will be- over
whelrningly defeated. Pennsylvania stock
in good demand. but heavy profit taking sales
and the general apathy of speculation prevented
material gain III the price OF the security.
The market was strong in the late dealings, and
many losses made earlier in the day were re-
covered The best selling in the South
western stocks. Northern Pacific and Sugar
Refining were strong. The London market was
closed.