Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-11-04
General and Extensive Rise in
Prices Today.
HEAVY PROFIT.REALIZING
Advances Ranged From One to More
Than Three Points.
FOREIGN HOUSES SELLERS
Large Number Of Stocks Attained
Highest Quotations Of the Year.
Satisfaction Over Election.
HEAVY PROFIT.REALIZINC
SnecIal Disnatch to The Star.

Special Dispatch TO The Star.
NEW YORK. November 4.-Today' 8
stock market fulfilled all of the most
sanguine expectations that had been en-
tertained with regard to It's probable
course in the event Of the election of Mr..
Taft to the presidency. There was a gen.
eral and extensive rise in prices. the ad-
vance running from one to more than
three points In all of the more active Is
sues. and a tremendous increase in the
volume of business What was perhaps
the most striking feature Of the dealings
was the manner in which the market
maintained Its strength in the face OF
some circumstances which might have
been expected to lead to a sharp reac-
ton.
There were naturally exceedingly heavy
profit realizing sales. especially by the
professional element of Wall street, and
although American stocks were strong in
the London market yesterday and rose
much further today, foreign houses were
sellers here to an amount estimated vari-
ously between $4,000 and 100000 shares.
At all events it was commonly agreed
that the selling of this description this
morning was in excess of the purchases
conducted in the London stock market
last night and this morning for New
York account.
There was no little conjecture with re-
gard to the reasons for London's unex-
pected attitude toward this market. The
general London stock market did not,
however participate in the buoyancy or
the American department, and revival
of uneasiness as to the situation In the
Balkans was reported there.
Notwithstanding the volume or the
selling for foreign account, and of the
local liquidation the market receded only
to limited extent from the sharp ad-
vances established at the opening of bust
ness and subsequently enjoyed further
substantial advance.
New High Price Records.
On this upward movement large num-
Der of stocks attained the highest quota
tons OF the year. and in such notable in
stances as United States Steel preferred
and Southern Pacific new high prices of
record were established. COunteracting
the selling of the description referred to
there was carried on an active and gen.
uine investment absorption of securities
and the rank and file of commission
houses were more active on the buying
side than at any time in many months.
The noted characteristics Of the stock
market could be referred solely and ex-
clus'-ely to the deep sense of relief from
poll, al uncertainty and to the general
qualification at the success of Mr.. Taft.
II was Tic COiAllOIi SApicSSlOH vi OpluiON
that for four years at least after March
next the country can count upon a safe
and sane administration of public affairs
and will be treated to a change in meth
DDS IL not Of policies. 1t has seldom been
the case before that a post-election mar
ket SO entirely fulfilled the legendary
forecasts of its probable tendencies.
AS was to be expected the outcome of
the election was the all-absorbing topic
OF interest and discussion. and scarcely
any other subject came in for the re-
hottest share of attention. A large num-
Der Of returns Of railway traffic for vari-
Gus periods were published and exhibited
the same general characteristics that have
been presented of late, but were accorded
little notice.
Money Market Unchanged.
Money market and foreign exchar Re
conditions showed little alteration, but it
is doubtful whether decided changes in
those respects would have attracted much
interest.
There were few exceptions to the gen.
eral course of the market, the most
striking being Consolidated Gas and the
Traction issues. which were relatively
heavy. The reelection of Gov. Hughes
was rather loosely referred to in connec-
ton with the course of these stocks, but
1t is doubtful whether this reason APP
pealed with any great force to the
thoughtful.
very large business was transacted in
the bond market also and the dealings
there dislaypd the same fendencieS which