The Washington herald., 1910-11-26
WALL STREET NEWS
Small Business Transacted
on Stock Exchange.
MEXICAN ISSUES STRONGER
Favorable News from scene of
Trouble Strengthens All stocks In
volved-FOreign Markets show Re
ductiOn In Rate OF Discount-BanlS
of France increases Loans.

New York. Nov. 25.-Transaetions in
l0.0o0 shares Of stock to-day formed the
smallest stock exchange business OF any
full day since the first part of Septem-
Der. The extreme range OF fluctuations in
nearly all stocks. that is. among the active
issues, was only about half point. and
at the close merely nominal changes were
shown.
This undressing market was, OF
Nurse, wholly professional, and commits
sion houses were about as deserted as
they are on the dullest days IN mid
summer. The strongest stock IN the s1ar-
ket was General Electric, which continued
the advance begun on the first day of
the week and for which no substantial
reason has Yet been made known. ex-
eept the vague and general statements to
the effect that the oompany's business
this year has been large and fairly
profitable. Some little buying Of Penn
sylvania stock early I'm the day was
ascribed TO the nearness of the time when
the new tunnels leading into this city
win be open for regular business.
Mexican Issues Stronger.
Mexican issues We're in the main
from the scene of the revolution" It
seems 10 be apparent that thus far this
disturbance there has made little head
way, 50 far as any idea Is concerned OF
a possible overthrow OF the existing gov
eminent, and the current expectation Is
that the outbreaks there viii soon cease
altogether.
The foreign markets were featureless
as our own. the most important event IN
London being a reduction in the open
market rate OF discount there. At the
same time the Bank Of England's weekly
statement Was not quite as strong as
Il was last week. the banks proportion
Of reserve TO liabilities falling from 81 20
in the preceding report 10 5l.5O per cent.
The holdings of gold coin increased some
thing over S3,0O0000. but as loans ex-
panded nearly 100000 the bank surplus
was. OF course. reduced
The Bank of France also increased its
quantity Of gold on hand. but increased
its loans much more heavily. The I'M
perial Bank of Germanys statement was
relatively better than either of the two
others. with large increase In cash and
a considerable falling of in loans. AT
home to-day financial events were made
uP OF few announcements that would,
under ordinary circumstances be con-
sidered as possessing only minor impOr-
lance
Smelling Company Calls Meeting.
A call for a special meeting Of the
stockholders of the American Smelling
and Refining Company. 10 take action
on the plan for increasing the cOmpany's
stock. IN order 10 acquire Sl5,000000 Of
the recently authorized 8 per cent de-
benture bonds OF the American Shelters
Securities Company. laid stress upon the
increase in the power of these companies
20 do business that would result II the
plan was made effective.
II was officially stated that the New
York Central lines had sold to the bank
ing house usually conducting their tfnan-
eial business s7.5o0000 per cent equip
ment notes being the remaining portion
of the S3o,oo0oo0 issue OF equipment trusts
issued in 1907 The price at which the
notes were sold was not stated. but
some light was thrown upon the figures
a. which the Chicago and Northwestern
Railroad recently obtained its money by
the Offering by the bankers concerned II
the matter at price of 81. less dealers
commission, of some of the bonds lately
purchased by them from the Chicago
and Northwestern Company.