Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-11-11
EFFECT OF ELECTIONION STOCKS is !
NEGATIVE RATHER THAN POSITIVE ONE
Orders Which Were to Have Been Filled Hughes Were
Elected Are Withdrawn and Instead OF Increased Pur:
chaSeS the Market Remains in Position Held Before Tues
day Except That All Doubts Are Removed

/ The probability OF Wilson's reelee.
EtiCn did net have any apparent effect
/ on the stock market Wednesda and
/ Thursday nor did added certainty
cause declines on Friday The market
IVES generally firm theu and there
was considerable activity without
any rush of selling orders.
/ In the opinion OF many of the
! brokers in and ABOUT Merchant street
the effect of the election of Wilson
ON the local stock market will be
rather of negative than positive ma
ture Several said on Friday that
kthey had tentative orders placed with
them which were to be filled provided
Hughes was elected II would appear
that the prospective buyers believed
that the election of Hughes would
have n tendency to enhance the val
mes of sugar stocks The failure of
the Republicans TO elect Hughes meant
that these orders were not to be filled
and consequently there was no great
rush of buying orders sueh as would
have occurred in ease of a Republican
national victory
Had the ORDERS that were tenta.
lively given for the purchase of
stocks been executed il would have
created a demand for stocks which
brokers believe would have had the
effect of Immediately causing a sharp
advance in some if not in all OF the
stocks on the list. There was no
such influx of orders and no advance.
Sentiment among the brokers yes
terday was that although the reelec--
tion of Wilson would have no bene-
fetal effect on the local stock mar
ket il would not have any i'll effect.
This feeling IS increased from the
fact that the house of representatives
will be so close on party division that
it would be impossible to pass any
legislation which would be prejudical
TO the sugar industry and that under
present market conditions and world
conditions there is little or no cause
for anxiety on declines of sugar prices
and consequent values of sugar stocks.
During the week Olaa showed some
recoveries and has fluctuated back
and forth on range of about point
The advance OF San Carlos stock was
another feature of the listed market
1t has advanced SO and is strong and
in demand at $17.
Among the unlisted securities En-
gels Copper stock remains the feature,
continuing its upward movement.
After its former advance it dropped |
back for a day and then recovered. |
such recovery followed on Friday by |
another rapid rise. II jumped sharply |
and Thursday till il reach !
ed $3.50 and then on Friday advanced |
Z ID and then II points till 1t made
the new high figure of 1895.
The -uying of Engels Copper fol- |
lowed adrices from the mainland re-
ceived here Monday The effect of
such advances. however, was not felt |
by the market until Wednesday when
the latest advance got in to good head
way and was unchecked at the close
Of the Friday market
Little change is to be noted in other
unlisted stocks. Oil is firm at $40
and Mineral Products is at $120. It
IS hard to account for the failure OF
his stock to respond to the good re-
)orts that came from Patterson un-