Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-10-26
Realizing Sales Stopped the Upward
Tendency in Stocks.
LONDON WAS A GOOD BUYER
Better Feeling Regarding the In
dustrial Shares Manifest Now.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. October o6-The tendency
to take profits and even up contracts was
again in evidence today, but the effect was
more pronounced than hitherto. The pro-
cess has been going on all week. but moth
ing approaching heaviness or even weari-
ness was apparent until today.
The selling this morning was persistent
and while not at all urgent or at substan-
tial declines, served to check any advance
and in some instances resulted in dampen-
ing enthusiasm to marked degree.
London was active and traded both ways
In greater variety of shares than usual
but her purchases exceeded sales by sev-
eral thousand shares.
The liquidation of Northern Pacific by
foreigners was said to have ceased for the
present Chesapeake and Ohio was marked
up on Its dividend prospects, but reacted
later on the declaration of 1 per cent
The absurd stories relative to the change
In control of Southern Pacific and Pacinc
Mail led to profit-taking and decline in
prices. Preparations for the early choosing
OF a president for the former company are
nearing completion and the movement in
the stock is probably based on this pros
pect.
The banking interest which has hereto
lore managed the affairs of the company is
reported to have bought stock on the re-
cent advance.
The coal shares sold off under mixed
dealnsS upon the announcement that the
strike had been declared off This action
was not altogether unlocked for, since the
street had discounted such an outcome for
several days.
Rumors that Reading would disregard
the production limit and mine up to the ca
pacity Of its fields had depressing infiu-
ence until officially denied later in the day
Inc traction shares are the subject of
much interest and rumors are rife as to
what will happen after the elections. Brook
iyn Transit Is the property around which
interest revolves, and the fact that Metro
politan is to have representation in the
Manhattan directory lends color to the
general scheme
The selling of the industrial shares has
tailed to force liquidation upon a scale
greater than in the railroads, and this fact
mas encouraged confidence in the Inherent
slIength OF the financial situation. Conser-
EatlVe houses have been urging clients to
puy only the tried and known quantities,
ana conservative clients have accepted the
arguments prompting the advice
Now when the discrepancy should be
most pronounced holders retain firm grip
on their industrial issues and refuse to sell
at sacrifices. This is supposed to Indicate
elections and to express confidence in an
industrial revival later in the year
Inc net changes in the currency move
ment during the week indicate that the
banks have lost $3.2OO,OO0 through the SUBJ
treasury and the express movement To
what extent gold imports will have reduced
tnlS loss cannot be calculated in advance
OF tomorrow's statement. Money was easy
all day, and there is no apprehension on
that point. Atchison's September state
ment shows an increase Of $3.50, 7l9 in gross
and $214 SIP in net earnings.