Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-11-09
|c0sSIP OF
THE STREET

-. ,,,a not be stretching the point
.insle string to say seSterosy W
s". % %d,d the unexpected. 1t was
y. . ~. ar,t time Wall Street veered
,.d I completely in interpreting some
E....r.schins .. event. Ordinarily susn
~. "a tho party In power would
M 0uIS he.n q signal for general smash.
s'' s"t Yesterday the general market
.",ed - along on n fairly even S.,.e's see.; y;
...,ns just as II nothing had happened
1. .hs polls on Tuesday. ,,.. =,
Ine.' os TO the election results,
inion Iii be seen from n few Of the
Nnicn w." exnrcssions cullcd from the
feucw.us. .hc DAYS literature output.
0eyen y house said: '"Thc startling: TO
One e"nic. mi results Of yesterdays elec.
eome pevr ""nn, 70 carry on their face q
oenS e'. "a tho general Administration
tSpuks ks.s%cedented NJ character In the his.
unp American politics However,
w, viownoint Of n security holder,
vm outcorne should be more favorable
Ssn otherwise .,. .hs,
s.t % marty lines have brought about a
n...aI In public sentiment, and pres.
is.e,nJdi ~. ,,nndications point to a big change In
mcyt Congress-, with some OF the
E,,iristration's favorites defeated, re.
SssinS ;sSs the Republican majority In the
s .s"te and n possibility It may be com.
ss"ssiv overturned in the House. How.
= ws do not look for the election
sss,its TO have any special market ef.
I'm, another said: '"Those in Wall
s.s.st who based their market opern.
Sions and opinions on memories ana
|srecedents found reasons for selling
s.ocks as a result of tho elections
throughout the country Yesterday, ana
ibere was enough supply from this
:ource to unsettle values to moderate
issrcc and make 1t appear the election
Css disturbing factor
This wns what another said: Look.
ens bock, the recent reaction, which
,sther mystined the financial observ-
s,s nt tho time, the speculative com.
nunity figures 1t represented the retrent
Il stock prices to q level where big
Democratic inroads upon the Republic
mn Party In Congress could have been
Ssid to have been foreseen and dis.
founted. This theory received sup.
bort from the transactions during the
hut hour and strengthens tho belief, IL
Sn adverse meaning might he rcnd into
Rhe election returns, the news was OUT
Market Street Railways
For many years philadelphians have
been waiting patiently for the clear.
knr up Of the Frisco street railway
broblem, which has been thorn In tho
Eide OF all interested ever since the
Earthquake. The end Of tho long lane
how seems to be in sight. In all
Events, interests In close touch with
khe Frisco situation received advices
kesterday indicating that amendment
No. 53 to the City Charter of that city.
which would permit the purchase OF
|he Market Street Railway lines by the
kity. will be carried through.
The amendment to the San Francisco
harter. it was pointed out, snOOths
|he way by providing for the purchase
II properties if later decided upon. both
Eithin the city boundaries and in sub.
rtan parts. 1t also provides that any
sw bonds to be issued for the purchase
x lines will not be included IN the city
ebt limit.
Limit Of the city debt has been an
|bstacle in the way. us new bonds could
|ot be issued for taking over the lines,
ow the Market Street Railway and