The daily morning journal and courier., 1906-11-06

day Expected in Wall Street-Prices
 Went Higher-Shaded Off at Close
 Money Rates Easier-wheeIbarrow
 Ride Election Bet-To-day's Gossip.
 Wall street and the stock market yesetrday reflected an opinion that Hearst will be defeated to-day.
 At the opening the market was bouy- ant; at midday irregular; in the mid dle of the afternoon buoyant again. and at the close a trifie weaker, due to prof it taking by trades
 If Hearst is defeated one Wall street view is that prices will burn out soon; another is that there will be heavy set ting to take profits.
 More enthusiasm would have been shown had not the market been con- fronted with a serious money situation directly after the elections. This curb ed the ambitions of money traders.
 Call money rose to 7 IA per cent.
 Reading was the star card again next to U. F. Louisville and Coal Line were notably weak in strong market.
 After the election the monetary situ- ation will claim serious attention, and some would-be bulls do not see much to base campaign on.
 Possibly the market may have to contemplate a seven per cent rate by the Bank of England.
 Perhaps, however, Secretary Shaw will decideto buy per cent, government honHa 4o +I, ,s+ tion.
 The early profits were not scorned by holders of stocks. Just as soon as it was seen that a good market existed the supply of selling orders enlarged. Houses that figured as buyers at the opening were sellers within half an hour.
 The strength of the local fractions, particularly Interborough Metropolitan was dueto the confidence in Hughes election.
 The Canadian Pacific gained $528,OOO last week, Missouri Pacific, $246,O Wabash, $15S,500 and Grand Trunk, $127,21O
 It is altogether likely that most of the buyers expect stocks to open up well on Wednesday, in which case they would take profits.
 Never have there been such general preparations as now to trade in London on the election results. This is because more houses have connections there than ever before.
 United Copper was very strong on the curb, selling upto TO- a gain of ? 1-2 points over Saturday.
 The rise in Illinois Central was sup posed to be tribute to the Hartman method of operating a railroad
 Efforts to finance the shifting of speculative accounts from London to New York city were lainly in evidence. The heaviness of Erie preferred shares and the poor August and Sep tember statements call for some ex- planation. This was secured yesterday from an officer of the company. Gross earnings are now comparing with an enormous high-grade tonnage & year ago.
 A table was published showing how stocks advanced both before and after the election of Mckinley in 19O Many
 
 election than they were on the day aft CT But that was a different contest. The freak bet of the campaign was closed in the curb market yesterday. w. w. Watts Bagley reported that he had made it with w. Lawrence Gun ther. Bagley bet on Hughes; Gunther on Hearst. If Hughes wins, Gunther is to give Bagley a ride in a wheelbar- row from the stock exchange to the produce exchange, and pay for ten piece brass band, which will lead the procession. This Is to take place after the close of business at p. m. next Thursday. If Hearst wins, Bagley is to do the wheeling and pay for the band. The loser of the bet will also pay for a dinner for ten persons.