Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-11-27
Dealings Showed Extremely
Irregular Tendencies.
FIRM UNDERTONE NOTED
Trend of Prices Toward q Highel
Level.
MORE GOLD ENGAGEMENTS
Banks Gain in Subtreasury Opera
tions-Ca1 Loan Rate at
6 Per Cent.
Is GOLD ENGAGEMENTS

Spetlai DspdIcu 10 NE Stdr.
NEW YORK. November 27.-In view o
all the circumstances o. the financi II
situation at large and taking into account
the suspension o: business tomorrow. it
was nothing more than natural that tn
dealings in today's stock market should
have exhibited extremely irregular tend
enoies. Beneath the superficial irregu-
larity of the market. harev,r. firm un-
dertone could be datec. ed. and with few
exceptions the more significant move
ments in prices were toward higher levels
Apart from the various additional de-
velopments relating to monetary condi-
tions there was little in the days situa-
ton to engage attention.
Further engagement for gold for i'm
port carried the total contracted for in
this movement. according to some esti-
mates to sum In excess of $1Oo,0OO,0O1.
The premium on currency was neyerthe-
less maintained with considr rable firm
ness around IL per cent. although this
was nothing more than natural in view of
the close approach of the end of the week
and the month with the consequent large
requirements for pay rolls.
e On account of the very heavy payments
of assay Office checks for imported gold.
the banks gained in their operations with
the subtreasury yesterday $4,SI1 .000. which
converts their previous loss into net
gain of 81. GOO. For the first time in
many weeks the initial rates for loans on
call were fixed at 8 per cent and the re-
newal rates on standing loans at per
cent
Call Loans Below 6 Per Cent.
The greater part of the days borrowing
on cali was arranged below 6 per cent
and some relaxation In the terms quoted
for time loans was observed. Further i'm
provement was noted in the condition of
the domestic exchange and this was again
reflected in the strength of the commodity
market.
The London stock market was generally
steady. with marked strength showing in
consuls and other home investment is
sues. This would appear to indicate
that there are no further expectations of
another advance in the Bank of Eng
lands discount rate at tomorrOw's meet
ing of the management.
Little was done here on, balance for
foreign account. LIE chief exceptions to
the general drift of the stock market were
Missouri Pacific, New York Central,
Pennsylvania and ST. Paul. in which cases
pressure was evident from time to time,
but even in those cases no little raHyfng
power was occasionally shown.
49, Railway Dividend Gossip.
In the instance of Missouri Pacific and
New York Central. the greater part of
the gossip attending the transactions had
to do with the dividend outlook for those
securities. According to the regular
schedule. the dividend on Missouri Pacific
will be acted upon in the early part of
next week.
The Industrial and miscellaneous is
sues participated IN the uncertain tenden-
cies of the market at large, the only very
striking movement in that quarter being
q sharp decline on very small transactions
In International Paper preferred.
The bond market showed a rather ffmer
tone than has been displayed in some
time. and dealers IN investment issues
commonly reported an improvement in
over the counter business.