Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-10-14
FINANCE AND TRADE
Southern Pacific and St. Paul Were
Features in Stock.
GOOD DEMAND FOR BOTH
Remainder of the List Was Weak
and Lower.
GENERAL MARKET REPORTS

Special Dispatch 10 The Evening Star
NEW YORK, October 14-opening prices
were irregular this morning. and traders
were rather free sellers in the hope Of
facilitating the repurchase Of Saturdays
sales. The market was well filed with
mixed buying orders on a scale down and
rally followed the first hours business
London sold about 1900 shares on bal d.
ance, and there was some selling under
cover for Berlin and Amsterdam.
The continental money situation was re-
sponsible for the latter selling.
An attempt to force lower prices on the
report OF the industrial commission and
probable legislation based thereon had only
momentary effect. The findings are GER
tam to result in numerous original methods
Tor settling the trust problem by legisla-
ton, but II is considered a trifie early to be-
gin to discount any completed action.
There VIII be many stock market move
tnents based on these attempts, and an
active market in the industrials seems as
sured for next winter. Renewed selling i'm
Amalgamated Copper forced a lower level
OF prices during the morning and traders
We, were again encouraged to sell the general
INST upon this evidence of Standard on hos
tillty to higher market
Inc movement in Copper however has
reached a point of extensive danger TO any
which controls the value and the prtce of
the shares of the Amalgamated company.
In spite OF emphatic denials TO the con-
trary the street is inclined to the belief
nearing completion.
IL may be. in fact, 1t is not unlikely. that
tnere Will be delay in announcing the result
OF the daily sessions of important interests
whlcn nave been In progress for the last
fortnight The chief incentive to Confidence
lies In the fact that no favorable condition
IN the money market will be allowed TO
pass without bringing out one or two i'm
portant transa actions.
Bank reserves are already nearly four
times larger than they were at this time
last year but the strength required is even
greater than this. Recognizing this fact
the leading interests advise patience Re-
strcted operations In the stock market
pending return of money from the west
should allow the banks to add materially
TO present resources and eliminate the
money rate as deterrent Influence
IL is intimated that public interest will
De sought through the medium of an ad-
vance in the lower priced stocks. Erie,
Southern Pacific and the long list of nron-
critics selling between 10 and 10 are looked
upon as the real leaders of the next adj
vance. The Vanderbilt merger is not an
aoondoned prospect and the anthracite coal
zeal, the most familiar and most monoto-
nous prospect In the market, Is really be-
ing seriously considered in influential quar-
tiers.
The buying of Southern Pacific was called
good throughout the day, and the price ad-
vanced easily under the demand The trad
Ing was In large lots. and became the most
conspicuous feature of the market. Tho
question of a dividend in order to meet the
ilrst coupon on Union Pacific collateral
fours was discussed by the room az a nos
slble incentive to the rise.
ST. Paul was strong and weak by turns.
the early selling being based upon a de-
mai OF any immediate change in the north
western situation. On the way down the
buying was said to be of good character
The Steel stocks were well supported in
spite or some rather heavy selling by
traders. The market is still too lareelx
under professional control to continue long
In either direction. but. the believers In
higher prices are increasing in numbers.