The times. [volume] (Richmond, Va.) 1890-1903, 1902-11-06
DEPRESSION NOT
DUE TO: ELECTION 4 |.
Demonstrated BY Failure Of Stock
Market Squirt.
THE PERIOD OF PROSPERITY.
The Attention ofthc Financial World is
Closely Fixed Upon the Problem as
to When lis eliminating Point
Wal Be Keached-Fe atures.
THE PERIOD OF PROSPERITY
fBy Associated Press,

NEW YORK. Nov. THE hopes de-
ferred hy some of the large speculative
holders OF stocks made their influence ieit
in to-days stock market And the re-
aiewed disappointment OF these hopes VAS
reflected i'll The lively selling movement
with which the market closed and before
winch prices 3receutd leI4 points lower lasn
Mondays closing Lowell. In the morning
squirt fractional ADVANCES Were very gen
eTaa and reported a point or no. IN ont
or more prominent stocks. TINS buying
vns clearly based on the suppositlon ina.
the elections being over active liiteIsset
an the stock market was To be reNiNsu.
There has been q Wei defined asSuini'-f
ton amongst u certain speculative tias' s
that tbs recent semi Siagnailon mas S.nt'
due TO tile allXI ~ over outcome ci tic
elections. The list VAS made NJ 'h '9f'is,
OF the members OF large #specniaIN g puu it
which have constituted thelnsf,iNs.s We ~
champions OF various prominent sto os>,
of which they have taken on iltttS iine.s
with the intention of I,us niliEs =.
10 a higher level and then seiliS %. d. d,
81. profit The history OF tne ltsssiiN , 500 500
market has been made np OF lle ieLiiis
20 OF successive parcels 'sl lltpss "a ?
holdings by the pools Inc deii9iis l! as. We
haylnc a The opening term cNiusiliS
came from these sources, anu was menu
cd to signalize the supposed ,l'ds 7s,s soi
1ha- rlarina OF stieIression The iquidaton
1cHtsvcT that met The advances MAS OF
G character 10 discourage ali EFFORTS 70
pat III, prices, and II was GuicRi'# demon
strastec that the recent depression OF the
market was d lie TO other causes than cleo
ton uncertainties
tri1asea causes are of so general "a char
acter a ild have been so WIDELY diStrlDnted
as not 10 require charging upon here.
AS to one Of the most important OF them,
abe prospect of gold exports. to-day's inn
mediate development moved against eA-
MORT probabilities Sterling exchange at
Paris which Is the real center OF the
pressure. FOR gold advanced a fraction,
and money and discounts were easier IN
London. Call money was slightly flriner
i;l3. ew York. The consequence was that
Tor shipment by tomorrow S steamer as
had been. expected by good authority bui
II is Believed that. the autumn demands
ilnon The great foreign banks for the needs
pf clreHlAtion of money Tor purposes OF
trade Will ultimately result IN WithdfaW-
Etates. l..e question of increasing LABOR
cost both In transportation and in man
,ifatture which has been brought up by
the nthra cite labor trouble. keeps atterl-s
stiCns closely fixed upon the problem the.
eliminating point OF the period OF pros
perity N5hena The rise in prices reaches "a
stage at which aconsumptiNe demand Is
Trial activity is 10 lie expected. seieecula--s
Tive attention Just now is keeniy alive
for symptoms OF this condition.
- The pressure to sell WAS felt IN the
bond market lstif III less degree tilan IN
active stocks. TO talsales. par value,
1890 un. United States bonds q, were aii
unchanged ON the last call
The total salAs Of stocks for the day
were 5II,3fq shares.
MONEY!. AND EXCHANGE Money on
call closed !irgl# siislti per cent; closing
hid and asked. i@s per cent; prime iiier-
camille paper 5ia5l6 per cent. Sterling eA
ctu3i business