The Washington herald., 1910-11-19
WALL STREET NEWS
Market Sluggish Up to Last
Half Hour of Trading.
ROCK ISLAND GIVEN A BOOM
Forecasts of Bank Statement Fav-
Orable ana Returns May show an
Increase Of S1o,OOO,0OO in the Re
serVe-COming Election IN Eng
land Watched with Interest.

New York, Nov. ls.-The opening burst
of strength in security prices TO which
Wall street has lately been accustomed
was not witnessed to-day Instead, early
business IN the marker was conducted
very tamely and, indeed, ran along in an
exceedingly sluggish way until the last
half hour of the stock exchange session.
Then heavy orders began to be executed
after the familiar fashion by the same
brokers who have ali along handled the
greatest amount OF business in the market
recently. and the two or three stocks
that have been the favored subjects of
speculation advanced sharply. There was
no difference observable in the general
character of the trading. a flashing being
applied to one or two stocks on certain
occasions. with activity at all other times
sinking to a minimum,
One change was to be noticed in the
outward aspect of the market, and that
was that the Rock Island common and
preferred shares. principally the first
named, were taken up and advanced in
the afternoon dealings. 1t was fair to
say, too, that in general the market was
Just a little broader to-day than il has
been for some time past, a movement
10 retire short contracts seemingly being
little more generally dispersed.
sharp Advance In LehiEh,
If there was any development OF espe-
cial interest in the course OF prices. il
was that of a further sharp advance in
Lehigh Valley stock in Philadelphia.
based upon rumOrs which are believed
10 have an assured foundation of a COM
Ing increase in the companys rate Of
dividend
Forecasts Of to-morrow's bank state
ment were favorable. and among the
larger banks predictions were made that
the statements would be even better than
these forecasts indicated. and especially
in the matter OF a cash gain
There were those who declared that il
was entirely possible that the return
would show an increase In the bank re-
serve of nearly $1,000 900. II Is undenia-
bic that the money situation has been
tending toward ease ever since the begin.
ming or the week, and that this relaxation
appears not to be confined 10 New York.
but 70 Interior eenters, and TO the foreign
money markets as well. Just how long
this state o. affairs may last is. however.
not so certain
England TO Have Election.
With a general election now about to
be announced in England, at which the
main issue viii be as now appears the
question OF governing England hereafter
by what VIII be in effect a single house
OF Parliament, there are many grounds
for thinking that the Bank of England
will be anxious to keep a close hand on
It's cash SUI plus until the issue is de-
elared and even for some time thereafter.
and while up 10 the present time no par
ticular alarm on the subject is manifest
In England. IL is yet in the nature Of
things altogether likely that the discus
sion OF so momentous an issue must pro-
duce financial consequences In Great
Britain Of a more or less disturbing char
acter
To-day the Canadian Pacific Railway
reported a decrease in its gross earnings
Tor tile second week OF November OF
S22,o0J and there were stories proceeding
from sources ordinarily considered au-
thoritative that the gross earnings OF the
81 Paul and Northern Pacific railroads
for the trst week OF the month showed
heavier losses than have been seen al any
time thus far this year. Dealings in
stocks to-day despite the churnlng at
the close, were the smallest with two ex-
ceptions in the present month.