Regardless of the political situation
the market ' has experienced a more
encouraging condition, showing an up
ward tendency in prices in many is
sues as well as an ability to get away
from the' excessively high rates for
money which luid been characteristic
of the week preceding. This is partly
due to the fact that liquidation had
gone to. so advanced a point as to
make various issues evidently assume
a bargain character and hence to
rally to their support strong invest
ment buying which had previously
been lacking. An interesting and en
couraging factor in the situation has
been the improvement in the prices of
'high grade bonds, particularly rail
road issues, which has occurred dur
ing the past day or two. A good deal
of buying has "been developed in the
interior of the country and, while
market, operations have been on a
relatively restricted scale, the situa
tion has certainly been more promis
ing. Call money has ruled around 6
per cent during the most of the week,
and were it not for the high rates on
time funds as well as the scarcity of
accommodation of this class, the
money prespect would have been
reckoned decidedlj more favorable.
