Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-11-06
Volume of Buying Orders
Starts Rise in Prices.
LIQUIDATION SUSPENDED
Taft Utterances Have a Measuring
Effect.
LONDON DEPARTMENTS FIRM
Advances Ranged From Fractional
to More Than Four Points.
All Stocks Are Favored.
LONDON DEPARTMENTS FIRM
Special Dispatch to The Star.

Special Dispatch to The Star. {.
NEW YORK, November ga great VOL
ume OF buying orders from local interior
and foreign sources poured into the New
York stock market this morning. with the
logical result of producing rise in prices
which in many instances was in excess
OF the gains made Wednesday. This may
be very prosiao way of stating the state
of things in the days market. but, after
all. this thrush of buying orders furnished
the most direct explanation of the course
of the market.
Liquidation. such was noted upon
occasions yesterday, seemed to be entirely
suspended, except in so far as 1t was rep
resented by the Willingness of recent buy
crs from time to time to realize profits.
II was apparently the case that the
tenor of the speech delivered by Mr.. Taft
last night had added fresh fuel to the
speculative blaze excited by the outturn
of the elections Tuesday, and at any rate
mis- utteranceS we're everywhere referred
to as being highly reassuring and very
positive factor in the course of the stock
market.
European Markets Improved.
A further influence in the days rise
was the improvement in all the European
stock markets, based upon the amicable
settlement of the Franco-German dispute
over the Moroccan situation.
The London stock market was firm IN
all departments. and foreign houses
bought here during the forenoon to the
extent of about 10000 shares.
The volume of business In the day 8
market was exceedingly large, and &C
tivity was very we'll maintained throueh-
out the business session. Advances In the
active stocks ranged all the way from
fractional limits to more than points.
New York Central shot up so rapidly as
to suggest the existence of belated short
interest in that stock. Yesterdays an
nouncement of the extra dividend on
Northern Pacific was followed by fur-
Their prof1t-taking sales In that instance,
but these were readily absorbed in the
High Prices for Pacihcs.
Union Pacific and Southern Pacific were
both dealt in upon a tremendous scale
and reached the highest prices recorded
on the current rise. The shares Of the
railway lines in the southern states were
also notably strong. substantial advances
being scored by Louisville & Nashville. At
lantie Coast Line and Southern Railway
railway list were Baltimore & Ohio, ILL
nois Central, st. Paul, Canadian Pacific.
Reading and the Wisconsin Central
shares. Delaware, Lackawanna and
Western enjoyed characteristic adj
vance.
The Industrial and miscellaneous shares
were In no wise behind the railway list
In point Of strength and activity. United
States Steel, common, sold at the highest
figures il has reached in more than seven
years and the preferred stock rose to
what was practically a new high record
price.
substantial advance in the quotations
for copper metal was accompanied by
pronounced strength and activity in Anal
gamated Copper and Anaconda Mining.
Other extensive gains in this group were
noted in American Car and Foundry.
American Smelling, National Lead, Dis
tIllers' Securities and Sloss- Sheffield,
Western Union and Westinghouse Elec-
trio.
Local fractions Jagged.
The local traction stocks again Jagged
behind the other departments of the mar
ket, with very wide fluctuations continu-
ing i'm Third Avenue. The dealings in the
bond market were maintained upon the
same great scale of activity that has
been noted since Wednesday morning,
and were characterized by great strength.
notably for the United States Steel and
Union Pacific issues.
AS was to be expected in all the cir
cumstances of the case transactions in
individual securities were unaccompanied
by any special gossip or comment The
distinct and general improvement in trade
conditions, coupled with the satisfaction
felt with regard to the political situation,
was held TO account sufficiently for the
tendencies of the market at large.
Money market and foreign exchange
circumstances showed no substantial al
teration. The preliminary forecasts of
the weekly bank statement indicated only
a trifing change in the cash holdings Of
the banks, but II Is considered proba BILE
that large increase will appear in the
loan item.