Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-11-13
Think That 1t is About Time
for a Rise.
MARKET WEAK FOR A WEEK
Hope Expressed 4 Over Secretary
Shaw's Visit.
IN THE SAME FRAME OF MIND
Situation in London is Decidedly Bet
ter. and That Gives Some Aid
to Home Traders.
MARKET WEAK FOR A WEEP
,pe Expressed 4 Over
Shaw's Visit.
Secretary
IN THE SAME FRAME OF MIND
Epecinl DIspatch TO The Star.

NEW YORK, November 13.-After five
consecutive days of declining prices in the
stock market experienced observers are
generally disposed to look for movement
of some dimensions in the contrary direc-
ton. Such an upward reaction as took
place today would probably have occurred
merely because of technical market cir
CumstanCes; but, a matter OF fact, to-
days stock market dealings found spe-
cial incentive in the unexpected appearance
in Wall street of the Secretary Of the
Treasury.
In spite of Mr. Shaw's statement of Sat
urday morning. expectations were natural
ly excited that he had experienced some
change in mind and had come to this city
for the purpose of investigating at first
hand the conditions prevailing in the money
market The views in this regard. however,
turned out to have small foundation, and,
at all events the Secretary OF the treas
ury reiterated the views expressed by MIN
last Saturday
The fact that the fresh statement of his
position had little influence upon the course
of prices in the stock market would go to
prove the correctness of the idea expressed
at the outset that today's recovery in the
market was largely due to mechanical
trading circumstances.
Situation in London.
The initial rally and the later well-main-
tanned advance were. however. undoubtedly
furthered. first, by the decidedly more
cheerful tone of the London stock market
and by the slightly reactonary tendencies
in the rates for loans call The latter
still ruled at figures which in any other
leading market than New YORK, would
have been regarded as excessive and dis
turblng, but the mean rates quoted sun
compared favorably with yesterdays
figures.
The cheerful tone of the London stock
market was due mainly to the spread OF
the conviction there that no further ad-
vance in the Bank of Eng ,and's rate of dis
count was Immediately probable.
American stocks showed quite exceptional
weakness in the early dealings in the Lon
course of the day and before the local
opening were quoted well above New York's
final prices of yesterday. Foreign houses
were buyers here on balance to the extent
of about 10000 shares.
The days discussion in financial circles
was again taken up mainly with monetary
conditions. and with the probable results
of the various Investigations and prosecu-
tons of corporations now being undertaken
by the federal authorities.
A further decline took place in the price
OF Standard Oh in the curb market, prob
ably on this accent, but the stocks of the
Union Pacific system participated In the
generally firm tone which prevailed upon
the stock exchange
AS usual also. Union and Southern Pa
ciic We're leaders in point of activity along
with Reading. ST. Paul, Atchison, the Rock
Island shares and Missouri, Kansas and
Texas. Northern Pacific and Great North
ern preferred retained the same tendencies
which have characterized the dealings in
those stock for some time past.