The Washington herald., 1910-11-24
WALL STREET NEWS
Usual Dull Market Preceding
the Holiday of To-day.
MEXICAN NEWS UNFAvORABLE
Investors Not willing 90 Believe
Diaz VIII BE Overthrow, hut
velOpments In MexicO-POIiticaI
situation In England Serious.

New York. Nov. 23.-The Thanksgiving
holiday tomorrow no doubt impaired
additional reason for stock exchange
dulIness to-day. but In whatever way was
brought about the lassitude OF the market
It was so pronounced as 10 result in a
stagnant condition throughout the entire
day. The aggregate of dealings was only
$4,000 shares, the smallest for over two
months.
Whatever small trend there was in the
movement OF prices was slightly upward,
as was almost inevitable in the present
narrowness Of the market. after yester-
days moderate swing downward. A de-
cline OF point at one time in American
Smelling and Refining common stock
was probably correctly attributed to the
unfavorable news from Mexico, and the
same cause was also manifestly the rea-
son for moro or less general weakness in
all Mexican securities, not only IN our
own. but in the foreign markets.
No Alarm as Yet.
At the same time, conservative people
are clearly not making haste to dispose
OF investments that might be unfortu-
nately affected by a serious and pro-
lOnged revolutionary outbreak in Mex
ico until the news from this quarter Is
more definite than it has been thus far.
That discomfort in Mexico Is broadcast
is altogether clear, but whether this IS
going to result In an overturn of the Diaz
government is another matter, and 1t is
also as yet uncertain how much damage
has been done or is likely TO be done 10
property south Of the Rio Grande.
The General Electric and Westinghouse
shares continued their rise OF yesterday
and the day before. based upon state
ments indicating a likelihood that sum-
maries Of the business of these COM
panies taken al the end of the calendar
year viii show a considerable increase
in profits. An advance OF something less
than a point IN Pennsylvania Railroad
stock was, for lack OF a better reason,
said to be due TO investment buying.
Only nominal changes occurred In the
Reading. Union Pacific. and United
States Steel shares. but transactions in
these stocks furnished three-fifths Of the
days total business.
Sterling shows an Advance.
In response to an all-round frmer IN
dertone IN the london money market
sterling exchange advanced to-day one
quarter of a cent in the pound. and $780,
COO gold was taken from the banks for
shipment to Canada, with Indications
that such shipments might be increased
in the near future. The higher range of
money in London was accompanied by
renewed weakness in consOls and by a
revival OF the demand for gold In London
from Egypt
1t is becoming apparent. too. that the
political situation in England Is beginning
10 exercise more influence upon financial
affairs there than II has done heretofore,
and 1t viii indeed be very strange if a
general election contest. fought IN Great
Britain upon the radical question of
merging, I'm substance. the two houses Of
Parliament there mo a single body, with
the chances favoring the probability that
the question will be answered IN the at
firmative, does not create before II IS
ended, a good deal of financial alarm
not only in England, but in other civil
llZed countries.