Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-11-21
IS STILL TENDING UPWARD
Reactions Were Noted at Intervals
Throughout Session.
MONEY CHEF TOPIC OF TALK
Open Rates for Loans In London Show
cd a Slight Relaxation-Little Al
teration in Sterling Exchange.
Special Dispatch to The Star.

special Dispatch TO Inc star.
NEW YORK. November 2I.-The same ir-
regular character Of strength which marked
yesterdays dealings In the stock market
was again witnessed today. Nearly all of
the more striking movements in prices with
the course of the business session were to-
ward higher levels. although the upward
drift was punctuated by many more or less
pronounced reactions. So far as the gen.
eral market was concerned, there was very
little of novelty to be adduced in connection
with Its course.
Money market affairs continued to fur
nish the chief theme of conversation both
locally and In London. The stock market
at the latter point was heavy in the early
part of the day on revived anxiety as to
monetary conditions excited apparently by
the large engagements of gold for shipment
to South America.
1t was said, however. that these ship
ments Will not figure in the weekly state
ment OF the bank tomorrow, and against
them the bank bought more than E34OOOO
gold in the open market and received an
additional sum of f203.0C0 from Paris.
In spite of the expressed anxiety as to
monetary conditions in London. the
showed slight relaxation. Here leans
on call opened at 3 per cent. ran rap
Idly up to 10 per cent and ruled between
thOSe ngureS during the greater part OF inc
day. Somewhat harder conditions were re-
ported In the terms exacted for loans ON
time. Rates for sterling exchange showed
scant alteration. Some influence IN the
money market and likewise In the stock
market was exerted by advices from Chi
cago stating that the banks at that city will
have shipped to New York by Saturday
greatly increased sums of currency as COM
pared with last weeks remttances.
1t must be added. however. that none OF
the real developments or indicated move
ments in the money market accounted SUI
ficiently for the wide fluctuations in rates
which have been observed recently. Amerl-
can stocks participated in the uncertain
course of prices in the London market. and
the operations here for foreign account re-
suited on balance in the sale Of about 10000
shares.
Aside from Washington advices stating
that the Interstate commerce commission
had in contemplation an investigation OF
the relations existing between the Great
Northern Northern Pacific and Burlington
and Quincy companies there was nothing
of much consequence relating to one STOCK
or another This intelligence exercised
scant. influence also upon the stocks d.
rectly concerned.
There were the usual large transactions
In Union Pacific Southern PACING and ST
Paul with also comparatively small net re-
suits. The pronounced Strength IN DeIa-
ware and Hudson and Reading had no more
original explanation than in the idea that
sooner or later the anthracite coal COM
NAMES will announce their-plans for the
aggregation of the coal from the railway
properties.
other firm features In the railway list
were Rack Island. Atchison and New YORK
Central