Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-11-12
TAKE UPWARD TREND
Rising Prices on Moderate
Scale Mark Dealings.
LOW-PRICE STOCKS FIGURE
Interborough Issues Led in Specu-
lative Interest.
ABSENCE OF MANIPULATION
American Sugar Refining an Excep-
ton to General Movement.
Money Situation Unchanged.
LOW-PRICE STOCKS FIGURE
ABSENCE OF MANIPULATION
Special Dispatch TO The Star.

Special Dispatch TO The Star.
NEW YORK, November 12.-After TAX
ing counsel of its hopes and fears. the
Wall street community apparently reached
the conclusion over night that the local.
ar domestic money situation did not con-
oain very dire possibilities, and such &C
tivity as characterized todays stock mar
ket was for the greater part of the ses-
sion on the side of rising prices. To be
sure. the advance did not go very far and
the transactions were again almost wholly
professional but the significance or the
price movement was not on these ac-
counts diminished.
Traders sold the market in the early
dealings. but. finding very little stock Of
fering except from their own Kind TOOK
10 making purchases instead, and, on tle
whole. found 1t easier to affect quotations
that way within a limited range
For the most part Ii field day
for so-caIled Iow-priced stocks. both rail-
road and industrials. The Interborough
issues seemed at times TO be about all
there was to the market, but at inter-
walls Southern Railway, Missouri. Kansas
and Texas. Missouri Pacific. Rock Island.
Corn Products, National Enameling and
Pacific Mail had their turns.
The absence of manipulative operations
is hardly to be postulated of such a mar
ket, but there is no doubt that, while the
money market continues uncertain, specu-
lation tends to run to issues, the prices
OF which do not tend overmuch to fat
ten interest accounts.
Missouri Pacific Topic.
A lack of news accompanied the deal
ings in these stocks today, but there has
been a persistent tip on the Interborough
shares antedating the recent municipal
election. The dealings In Missouri Pa
cific and Wabash preferred were presum-
ably of a rather different order. A re-
port which apparently had some author
ity was circulated this afternoon to the
effect that the new Missouri Pacific f1nan
ing would. after all, be announced sooner
than had recently been expected, and
that ii would provide at least part of the
plan for per cent convertible bond
issue underwritten by a banking syn
dictate and offered to stockholders with
rights.
Continued heaviness in the Hill stocks
and American Sugar Refining was the
feature of the initial transactions. The
opening generally was irregular, inclining
to heaviness. The market rapidly changed
front, however. and until well into the
afternoon exhibited no little strength.
Shared General. Firmness.
The Hill stocks shared the general firm
ness of issues in their class. but Ameri-
can Sugar Refining continued heavy. and
in the early part of the afternoon was
the conspicuous exception to the general
movement OF the market.
Western Union advanced sharply, but
its course may have been merely re-
Election of the strength of the Gould rail-
road stocks.
Foreign financial developments con-
tinued to be OF a favorable trend. Al
belt the London stock market was re-
dictionary, as though political considera-
tions had reasserted their influence
against the improved position of the
Bank OF England. The bank continued
TO absorb gold. taking in today 81, 165, 900,
of which 500, 600 came from France, and
sent a little to South Africa. Here the
money movements and the money mar
ket counseled patience to spectators for
the rise in stocks.
Gold Exports.
Announcements were made of forth
coming gold exports to South America
early next week, but reports varied as
to the amounts, the largest aggregate
named being $1.2J0.OOo.
Foreign exchange was firm, but domes-
tic exchange eased decidedly toward a
point less unfavorable TO this city New
York exchange at Chicago rising To 20
cents discount from 30 cents. at which
price il sold yesterday and the day be-
fore. Call money ruled at ) per cent.
and time money was firmly held at the
advance made in the last few days. Ex-
pectations for tomorrow's bank exhibits
were not hopeful. but the fact that call
money was so readily obtainable at per
cent was regarded as somewhat prom
Using circumstance