The Washington times., 1901-11-10
ACTIVE UP TO THE CLOSE.
Professional and Public Interest IN
the Market Increasing.
Metropolitan Stree Railway Leads
the Dealings on Net Advance of
Five Points-A Loss in Northern
Pacific - The Bank Statement.

Five Points-A Loss in Northern
Pacific - The Bunk Statement.
NEW YORK, Nov. 9.-The dealings in
securities this week, as wei as the course
of prices, reflect decided increase in
both professional and public interest in
the market. The transactions in stocks
have averaged nearly a million shares a
day. while in bonds they were nearly
twice as large as last week. not~ithstand-
ing the suspension of business on 'lec-
ton day. Without doubt the result Of the
elections has had some effect upon the
market for securities. The mere fact that
the event is over has r. moved divorunS
factor. and at the same time the de-
cision in favor of honest government has
naturally created a more hopeful feeling
on the part of everyone.
The most important development having
a direct bearing upon values is the settle
ment of the controversy over the North
western railway situation. 1t seems prob
able that an official announcement of the
agreement that has been reached in this
matter will not be made. The public will
learn of the programme that has been
agreed upon as various steps are taken
in 1t from time to time.
The dealings in Union Pacific common
during the last four and a half days
reached the enormous total of 100000
shares simultaneously over 81 ,00oO 600 of
the convertible 4 per cent bonds of the
company have been dealt in. st. Paul
has been active and has advanced as rap
idly as Union Pacific. The movement in
1t. however, has been overshadowed by
that in Atchison issues. They became ac-
ba Ia St hal pf week
net advances of six points for the com
mon and of over five points for the pre-
ferred.
Today's market was strong and active
throughout, with local traction issues
forming a conspicuous feature. Metro
politan Street Railway was the leader in
the movement. and at reaction of more
than a point from the highest price closed
8 per cent higher than last night. A large
short interest was created in this stock
prior to and Immediately after the cleo
tion on the theory that 4 change in
municipal government would be detri-
mental to the company. The leaders IN
this movement appear to have been the
same operators who precipitated the de
cline in Third Avenue stock n year and
half ago, and by doing so enabled the
Metropolitan Company to acquire control
of the Third Avenue system at an ab-
normally low price. 1t now looks as If
they were paying for their tomerity in
selling Metropolitan, as they did for their
confidence in selling Third Avenue stocks
eighteen months ago.
Brooklyn Rapid Transit, on sales Of
about 25.Oo0 shares. enjoyed a net ad-
vance Of more than three points. Man
haitian was less active than the other two
. oil
cent higher than yesterday. The cover
ing of shorts in Peoples Gas resulted in
a net advance Of two points.
There was some falling off OF active in
terest in the general railway list; still
Atchison common rose a point, and Mis-
souri, Pacific IL per cent The United
States Steel stocks were moderately ac-
tive, and closed at the best prices. Less
active issues that received noteworthy at
tention We're American Locomotive stocks
Chicago Great Western common and pre-
ferred, Chicago Terminal issues Consol-
idated Gas, Great Northern preferred, at
q net advance Of 3 points, Hooking Val
ley, Mexican Central. Pressed Steel Car,
and st. Louis and San Francisco. On
sales Of 200 or 800 shares, Third Avenue
advanced 3i4, and United States Steel
points. Northern Pacific preferred was
a CONSPICUOUS eAcspJlon 10 the prevailing
tendency. sustaining net loss of III per
cent. The transactions in bonds were ap-
proximately $4,000 par value
In the outside market there was re-
vival of activity. Union Copper made an
advance of 11k per cent, American Can is
sues made further recovery, and Kan
sas City, Fort Scott and Memphis and
White Knob Copper were in fairly active
demand The weekly statement of aver
ages Of the associated banks shows q loss
in lawful money Of $500. 900, but as the |
deposits have been decreased materially,
both by this losy and by the unexpected (
reduction of nearly sj09o,0J5 in the loans, /
the decrease in the surplus reserve is only |
f'7e2.S15. That item is stiH nearly twice |
as large as year ago, being S. .Gs3. 90. as /
against deficit two years ago Of &, rs, 900. /