Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1908-11-24
NEW YORK STOCK
AND BOND MARKET

NEW YORK, Nov. 2s.-Today's business
at the stock exchange was the smallest for
any day since the election. The totai OIL
732.4OO shares is the only daily total below
million shares that has occurred for fun
day in that period This subsistence Oh
speculative furore awakens some regret IN
many elements closely adjacent to the STOCK
exchange, but in the larger financial circle
Of the wall street section there is avowed
satisfaction with the slowing down OF
speculative pace which 1t was reared Wouu
prove perilous and involve Interior conse-
ouences that would be detrimental 10 the
march of Industrial and commercial pro-
Eress of the country. This fear has founo
open expression in the past few days from
MANY influential banking quarters. Inc
closed interval since Saturday seemed 10
have been taken advantage of to dissem-
mate this view through the country lne
wisdom of regulating the pulse OF the recoN-
cry and of keeping down feVerlsh syhPu ,
was enforced from various sources. Ihere
ia a tone of depreciation OF any attempt al
a sudden and violent boom IN business
There were warnings given also OF unWaf-
rated assumntions of the progress already
anhieved in the recovery and OF the Wlplhs
out of possible obstacles TO be encouhtei,S,u
In particular there is realization ina. tns
assembling of congress and the state lesis-
1otures NAV hiring some forces into action
that will chill speculative enthusiasm. ~ %
supposed that this may follow lfcih tne ~
exuberant views that specuiatotrs nase
fassed 10 the extent which anti-corporauon
sentiment in the country has been appeasSu.
mr. tairjng nm of the tariff schedules in the
practical work of a revision of rates or duty
Tnust he taken account for some dlsturpihs
erect which the speculation has peen IN
clined to ignore for time. the STOCK ma ia,
l,et had clear limitations last week OF tne
nsfure Of the magazine article written py
Andrew Carnegie leaning to taTlL 10 LoI
ro1epue only and advocating the abohtloI
of duties on steel, but the puphcatloh u
elaborate extracts from the articles "sie
not without additional effect. fhese N
1uepces we're perceptible in the constraint IN
tn advance of prices OF stocks touTS atocl,
than in any positive depression. Inc sun
market in fact showed some tendency 70
ward an upward reaction from the shalP
fail which was in force at the close oI iase
week There was quite a volume OIL seli.re
orders in the market at the opening, as lhe
after effect of last weeks fall ana tnose
made the opening prices lower. AT the low
ast 1evaI the professional traders on the moor
were disnosed to work for recovery on
The ground the fall had reached such an
axtent as to invite to a repounu. Aie
x,,tpine out of weak accounts on the lons
side and the building up of short lhteresss
IN the course of the decline had improves
the technical condition of the market' ,,,sa.
the recovery there was marked dWlholi ing
~ the demand which served as notice OF the
reluctance as yet to renew the purcnasess
~ stocks on a large scale. An lnportan
mart of the selling for torelsn aeoouAe
ard this was of such effect on the 1oreisn
Exchange market as to keep alive the us
eussion of possible gold exports Anoe ne
reduction in quotations TOT copPet 70 tn
Kew York metal exchange was laUl , a.
the restraint on speculation perceptlnle Al
today's market. - -. oor
ponds were irregular Total sales par
value s5,O72.O0o United States oonds were
unchanged on call