The daily morning journal and courier., 1907-11-06
|LAIE FEATURES OF TIE STOCK MARKET Better Feeling Prevalent in
 London. AMERICANS WERE HIGHER , Also English stooks-More Gold Arrives at New
 York.

X OIhs
 No stock market in New York yes- 1terday, on account of the state election but the London market was doing bus Eness at the old stand and With a more cheerful feeling, the trading on the zLondon exchange being more optlmlstle Hpyer the announcement that gold shlp- znents from Paris to London are being arranged. Led by consols, which rose B-S. most of the ''gilt-edged securities benefited by the promised assistance From France. while Americans, taking heir cue from the favorable close oI f he market in New York, Monday started quite firm at above parity prie- Bs, but subsequently, dropped from the best quotations. Union Pacific at noon vas one point, and Canadian Pacific Eas 3-4 of a point, below the opening' evel; but they were still one to two points higher than Monday.
 Inquiries made in the London bullion market show that the brokers expect he Paris shipments of gold to London {. o be fairly considerable. They also xpress the opinion that the outflow of old to America from London would E ontinue for some time, even if the ] Bank of England's discount rate IS aised to ' per cent. It is pointed out, E owever, that if such a rate becomes ecessary it is bound to attract gold rom other sources, thus offsetting the merican drain.
 It is further remarked that the Bank England's discount rate has not een above 6 per cent since 1873, when, Nov. z of that year, as the result a panic on the Stock Exchange, the lte was put up to 9 per cent
 A Paris dispatch last evening, says: he Bank of France to-day made it's rst shipment of gold to the Bank ot o&ngland. in order to relieve the tension here caused by the American demands pursuance to the decision reached st week, the Bank of France at the quest of the Bank of England, pur- ased e9,O00,000 time sterling bills, re- Hitting for the English sovereigns and nerican eagles. At the opening Of the purse prices were firm and a better eling prevailed in regard to the situ- ion in New York, and favorable ln~ rpretation was also placed on the de- sion of the Bank of France to assist Bank of England by the purchase G3,0O0, GOO in time sterling bills for Id. Toward the close, however, weak ss developed on account of heavy liq- nation for Brussels account
 Tn New York the feeling was one of ief from the strenuous pace of the few weeks. Uptown branches of okerage houses that remained open Ire not, however, entirely deserted, more nervous of the Wall street hitues finding their way to them to trn if anything overnight had tend E to frighten foreigners to bid down r stocks.
 Several reports as to railroad earn ,s came in, the more important of ich are: Minneapolis, St. Paul & E llt Ste Marie, otherwise commonly own as the "Soo," reports decrease $244 1895 in gross and $S41,S17 in net rnings for September; decrease of ,360 in gross and $596,74S in net Enings for the three months ending Dt 30. The New York, Susquehanna Western reports increase of $43, ,667 gross and decrease of $6,958 in net nings for September; increase of ,76h in gross and decrease of $11, ,S61 net earnings for the three months ing Sept 30.
 he Kronprinzessin Ceci1ie of the rth German Lloyd line brought yes- day morning $S,0O0,OOO of gold in her rage vaults, in 235 boxes, a treasure go that will be warmly welcomed
 New York when the wheels of ngs financial turn again to-day It, with the opening of business to-
 sS.00O. JOG gold will be on hand to et any sudden emergency, was a rec of great relief to bankers.
 ast Saturdays bank statement, wine New York banks with a re- ve deficiency of $3S,OOO,OOO, was the rst that had ever been issued from
 clearing house. It was absolutely assary that this deficit be made up, ce this supply of new gold is time n an emergency. Banks had eX- ded loans to the extent of $60000,
 knowing that this weeks gold ar
 u would place them in a position to ze good any great demand that Int arise this week. On the Lusi-
 a of the Cunard line, which is due Thursday, is $10,OO0,000 in gold.
 a week or more there will be a inuous procession of ships bearing
 from Europe The arrival of this
 is expected to afford immense re- to the financial situation. It can
 help but have an influence upon
 premium that has arisen for cur # ,y, and may result ill dissipating
 premium. Banks are allowed to
 e loans to four times the amount gold or gold certificates in their It's, and SSOOO,OO0 gold on hand to-
 means a $32,O00,OOO expansion of
 its.
 the London market yesterday
 lison closed-the prices given being
 York equivalents-at 75 1-2 a loss
 -S, St. Paul at 102 7-S, gain of