The evening world., 1905-10-30
MLLSRW,
MONDAY, Oct. 30.

Men OF influence en- Wall stree, are
saying that each day brings the stock
market nearer 10 tie point whore an
upward movement Of large proportions
will begin. That this is popular be-
lief IN the Stock Exchange is obvious.
There is, however. a growing app-ehen-
SION that lie powerful Interests headed
by f. H. Hartman are disp scl 70
stand In tho way Of this upward move
mCAt-dt least for The present Union
Pacific stock, for instance. which has
been a Du5yaut markc, leader for a long
period is beginning 20 show a roprcs I've
tendency In observan quarters Mr..
lllrriman's prediction OF an outbreak OF
competitive railroad construction is in
.crpretod as a deliberate effort TO coun-
teract the rapidly spreading bullsh SEN
timoht For reasons Of is own. appar-
entity the Union Pacific syndicate does
not want a strong bull market Just
yet
Under the leadership Of Shelters the
market would nave developed a strong
err tone early in the day g.. it hai not
been for rcplrt- that Kuhn. Loeb G
Go. ,llaTlmans strongest financial al
lleD hal sont ont notices calling IN
large amounts Of call money Consid-
erlbie liquidation followed and prjres
which mad seemed about to rise recc5rd
fracconally. Some Of The banks called
In bans, their action being followed by
temporary Increase In tie rate for
call money from 4l-2 per cent to 5l-I
per cent. Predictions were also feari
IN the stock Exc clange that there wou d
be heavy engagements ef gold for ship
men, to Paris tomorrow. Inquiry at the
Aseay Office ELECTED no corroboration
Of these prcdc.io.s, however on the
other hand. tie statement was made
that 80 Ions as the Bank Of France re-
fused 10 pay inter. 81 on gold In tran il
there was no profit in gold exports with
the ruling RACES of exchange. II was
reasslrlng to Wall street to learn that
there is now about Sl3j,COOOoO Of gold
coin lying in the sub.TreAsury vaults
IN this c.,y
Shelters is showing a latent strength
whIlA apparently iIst!ncs the long
time confidence OF rs blcG,rs. Through
out the stock market wabbling Of the
past few months a small clique Of oper-
atoIa have dung to the !d.a that Amer
lean Smelling ami Refining shares we're
entitled to a substantial advance In
price Some OF these operators plCkgd
W this stock at about ll5. and they
have b. ID on 10 It with tle calm con-
yictlon that q is oouni b 80 to 100
Even the hlgh record OF to-day failed
to tempt them to let e.. While this
stock continues fairly ac.iyo In a spccu-
latiye sense, there are indications OF 4
s,tady Absorption wn.ca Is narrowing
the holdings 70 a few importan; inter-
ests.
The continued weakness In Metropjll-
tan Traction STOCKS impaired special
significance to william NJ Ivins cam
palgn statement that tho local public
uull,y stocks would be purp1s.ly de-
pressed In order to give Tammaay
orators a pre:ext for the assertion that
an anu-Tamna7y municipal victory
would result in a falling on In corporate
values Mr. IyInss statement promptly
caught the attention Of the room-trad-
ers largely for the reason that the Re-
publican candidate for Mayor Is known
TO possess an experts knowledge Of
Wall street methods, Actually local po-
lI;ical Influences have very llttle to d.
with shaping stock market movements,
The Metropolitan Issues are believed to
be IN process Of adroIt manipulation by
big operators, ana the part that l.cll
politicians play IN the game IL likely to
be merely incidental ana In some cases
only as beneh.Iares )f the goJj viii of
the big operators,
Russias internal troubles and the
consequent postponement u the $50.
C0o,O0 Russian loan, OF whch New
YORK expected to get a snare, have had .
a dsquIetlng Eject on the monetary .
situation This Is shown In a pro- /
nounc5d degree by the actlon OF out Of I
town banks In holding on to their cash ,
and IN the drift Of money out OF New ,
York to Western banks Fears are ex-
pressed by New YOgk bankers that this .
week bank stat mcnt will show a COM
siderable lore Of cIgi, not only 10 out /
NJ toHn blnks, but 10 the Su1'Trtas-