Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-11-08
Wall Streets Mixed Emotions
Over Election.
MARKET IRREGULAR
LOCAL STOCKS REELECTED sEHT1.
MENT OVER RESULTS.
Money Held Extremely Firm In All
Observation-Disclosures Reporetd
Loss to Subtreasury.

NEW YORK November 8-Wall street
was disposed today to receive the results
Of yesterdays election with mixed emo
TONS Feelings of satisfaction in some re-
spects were tempered by decided contrary
considerations in other regards. 1t was
doubtful. howver, whether. after the open
ing dealings, the election returns occupied
more than subsidiary place In the days IN
fiuences.
stocks opened somewhat higher on the de-
feat of the municipal ownership ticket. but
later they all reacted extensively ana
fluctuated irregularly with the course OF the
business session. The uncertain course OF
these securities unauestionably reflected
the disagreeable Impressions created oy the
magnitude of the vote received by the mu-
ncpal ownership ticket.
With the local political situation more or
less disposed of. attention reverted to the
money market, which held extremely nrm
in all departments throughout the day.
Heavy Currency Shipments.
The banks reported a loss to the SUBJ
treasury since last Friday and up to this
morning of S. 1e7. OOO. and there were fresh
heavy shipments of currency to the south
and southwest, which were only partially
offset by the receipt Of $355.oOO gold from
San Francisco.
In spite of the high prevailing money
rates, sterling exchange opened higher. but
later that market reacted quite smartly
The commodity markets and the DAYS
other routine news furnished no special in
centive for speculative operations IN one oi-
fection or another.
The London stock market was generally
firm on the improving monetary situation
at that point. and foreign houses were ony-
ers here to the extent Of about 2S,0Oo shares
A large number of earnings statements were
made public. and also some interesting divi-
dend announcements. and the days actual
news relating to individual securities was
limited to such circumstances. The contln-
ued upward movement in Reading common
stock which was the most extensive fea-
ture of the market. was the most striking
incident in the days transactions.
Rise In Reading.
The rise In Reading was unaccompanied
by any more specific explanations than have
been presented previously. There was no
further talk OF the danger OF corner IN
the stock. and is advance today seemed
to have no particular effect upon the ir-
regularity Of the market at large.
Wall street seems to have reached the
conclusion that certain capitalists OF large
resources are willing to take all the Read
Ing stock that can be acquired at prevail
ing figures. for reasons satisfactory to
themselves, which indeed appears to ac-
count sufficiently for the somewhat spec
tacular course of the stock. Price move
ments elsewhere in the railway list were
for the most part limited and irregular,
with the dealings in that quarter showing
a generally heavy tone during the greater
part OF the business session.
Missouri Pacific was under pronounced
pressure, and the so-called Hartman
Pacif1cs and Canadian Pacific also were
heavy. Erie was dealt in upon compare
lively large scale, but benefited but little
from the strength OF the other anthracite
stocks.