Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-11-20
FINANCE AND TRADE
Easy Money Encouraged
Some Stock Buying.
BIG TIME LOANS MADE
MANHATTAN WAS AGAIN THE
MARKET FEATURE.
Other Traction Shares Were Strong In
Sympathy-Bears Had
to Cover.
BIG TIME LOANS MADE
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, November 20.-Money mar
ket conditions continue to force speculation
Into the specialties and leave commission
| houses bare Of buying orders. The actual
condition Of the money market is decidedly
mixed and the street is confused as to the
actual trend Of rates. Todays trading re-
suited In an easier tone for call money, and
here and there time loans were reported at
6 per cent
One loan of $500, 600 for ninety days,
with the privilege of calling after sixty
days, was reported, and one thirty day loan
of 81 100000 was said to have been made to
valuable client of one OF the larger banks.
These transa actions, coupled with the ease
in the call rate. were regarded as favorable
developments in the general market situa-
ton. There is however, little evidence of
any change IN the legitimate demand for
stocks, and there is always the prospect of
gold shipments should money ease to nor
NAL rates.
Taking all the known fact ors into consid-
GRAFTON, the outflow of gold would seem to
be but matter of few days. Crops must
go to market shortly, and the loss of gold
should make no lasting impression on
prices and its going is to help in the cur
tailment OF an almost unwieldy loan obliga-
ton abroad. By warding Off gold shipments
IHe ieduluS interests IN the market nave
probably allowed the urgent liquidation of
stocks to pass the acute stage without the
sacrifice of prices, which would have fol-
lowed had gold shipments been inaugurated
in the midst OF the depression.
Now that the market has been shaken
down to reasonably substantial basis,
gold may go, If exchange conditions war
rant 1t. and the scare will have preceded
the actual shipment.
The market supplies more reasons for
going slow than are fully offset by the con-
fidence in the continued prosperity Of the
country.
Specialties will have wide fluctuations and
traders and experienced ciques will take
every advantage of changes in sentiment
but the public will scarcely come into the
market before reading the Presidents mes
sage to Congress, and after that there may
be more selling than buying. During this
same period January payments will de-
cheap.
Manhattan was strong on the more pos
tive announcement that the property
would be leased upon a guarantee basis by
the subway company. One rumor had the
guarantee would not become operative
until after two years All of the traction
shares were strong in sympathy with Man.
haitian.
Amalgamated Copper was strong, and
this fact gave rise to reports that Standard
Oh interests and the City Bank had con-
Guided that the warning delivered through
MI. Handerlip had established q safe pur-
chasing level.
A further 10 per cent advance in refined
sugars made the stock of the American
company attractive and higher. Here and
there some fair buying of the cheaper rail-
roads was reported, and the market seemed
to have better tone, without inspiring sud
den activity except among the short inter-
est.