The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1916-11-11
TRADING IRREGULAR
ON \. Y. EXCHANGE
Street Shows Tendency to Set
tie Down on prosperity
Basis" After Election.

NEW YORK. Nov. 11.-Coniiictins
sentiments resulting from the election
decision caused a violent buying and
selling movement in today's short ses-
sion of the stock market. which oper-
ated to keep the trading highly irregu-
lar. although at all times very active,
at intervals nearly feverish. There was
much Of professional character I'm the
trading. which carried first one stock
upward violently and then another. with
no very definite trend in any for long.
IL Is not surprising that such should he
the case I'm 80 brief an interval from
the trying days when the Presidential
outcome was still in doubt.
Tendency to Forget Election.
There Is. however. a distinct tendency
to lay aside all considerations that may
have been endangered in disturbances
arising from election. and once more
take stock OF underlying economic con-
ditions. The probable duration OF the
war. possibilities in the new subma rine
phase the still ominous situation south
or the Rio Grande, business in general.
country. ING
Much talk along the lines that it cam
not possibly make much difference with
the remarkable steel and copper bust
ness who occupies the White House in
the next -FOUR years was heard This
may De said with equal truth of the
general prosperity, so long as the war
Steel Common Mirrors Market.
AS the leader OF the Industrial LIST
United States Steel common quite ac.
curately reflected the movements of
the whole market. That issue opened
at ia. and then slowly yielded in small
fractional movements to 1911 near
winch level II ruled. Most OF the in
or themselves In the first hour or so.
except the copper shares, the buli
movement in which. begun yesterdav =,
was continued In somewhat more mod,
craze proportions. however. Anaconda
ana utah each gained more than a
point as did Ray and some OF the other
stocks in that group. There was nor
a little good buying in the equipment
ana minor steel Issues, though they
were not consistently strong
Central Leather reacted from z m Z
points or more, with but little recov-
cry. Most of the railroad shares show
ed fractional recessions from the Fri.
DAY leyel. Nevertheless railroad earn
ings should be bullish factor, and
probably Will be so regarded as soon as
Wall Street has once more settled down
to calm consideration of basic factors,
In the frat week OF November Chesa-
n.
Denver and Rio Grande, and other lines
made good returns in gross. Heavy car
| buying continues, among the later en-
| trants In that market being Illinois
| Central. Northern Pacific. and Santa
Fe. with substantial orders,
Call Money Easier in London.
In the London market call money was
easier at ~ to ~ per cent, and dis
counts we're also easier at 5Ik to s-lG
per cent, with January treasury ma
TURTLES at 6% per cent. Naturally there
| was but little business in stocks. Ameri-
| cans were easy, except for n good de-
mand for Steel and the Marine GER
tiioates. There was little change in
| foreign exchange rates on this side ex-
cept rubles, which again suffered a re-
action OF es.4O, a discount OF 42!s per
cent.
There was general weakness in the
| later transactions. United States Steel
common stole down two points, nearly
| to 122. The copper issues yielded a point
or more, but still held fractionally
above yesterdays level In most cases.
In both the industrial and railroad
lists there were reactions of a fraction
to three points or more. Gulf States
| steel was again spectacular at a seven
point rise to 1872. Wheat was irregular
at the opening, but developed a Arm
tone later. Cotton was steady.