Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-10-25
FINANCE AND TRADE
The Stock Market Dull and
Listless.
LITTLE TRADING TODAY
THE BANK STATEMENT WAS
FAIRLY SATISFACTORY.
Disposition to Take Up the Indus
trials Again and Neglect the
Railroads.
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. October 25.-Todays stock
market dwindied to midsummer proper
tons and few of the changes recorded in
prices represented any significant change
in conditions Traders bought few stocks
during the morning in the hope of realiz-
ing on the good showing to be made by the
weekly bank report. Advances extending
to one-half Of per cent were recorded but
the movement was listless and the larger
interests made no effort to revive activity.
The holiday in London still further con-
tracted the volume of business and the to-
tai trading barely crossed the 100000 share
mark.
The room had expected that the Gates
issues would move up most rapidly in any
rally which might follow the publication of
the bank statement. Accordingly there was
professional demand for Baltimore and
Ohio. Norfolk and Western and similar is
sues. These properties. the first named in
particular, responded to the buying, but re-
eeded sharply at the close under an effort
to market early morning purchases.
The Gates party continues to talk higher
prices, but is not helping, or not succeeding,
In making them. In the Gould issues Wa
bash and Texas Pacific were the strong fea-
lures under buying said to be good in char
acter.
The tendency of the trading toward the
end of the week has been to favor the in
oustrial list This tendency was pronounced
today, such issues as Colorado Fuel
PRESSED Steel Car, American Cotton oil,
Consolidated Gas and Air Brake all max
ing noteworthy gains. Special reasons were
urged IN every case, and most of them suf-
ficlently plausible to attract speculative
demand.
The subsiding of the specula tive fever in
the railroad list is most acceptable to the
N tat, ~, rr.,
latiens between certain pool managers and
the banks behind them.
The money market is responding admira-
bly, to treatment, but its progress depends
largely upon conservatism in the stock
market. An attempt at forcing a higher
market brought rebuke upon the western
element and its impressiveness has not
been disregarded. The leader Of that fac
ton has been persuaded not to put I'D
prices twenty or thirty points, ito sell to
Europe and the public"
There were some urgent obligations nearer
home which needed helping before the
banking reserves were pledged to any such
enterprise. Progress is being made slowly
toward remedying the more glarng de-
tects, but the market has been brought to
standst1tl An Irregular price level with
important fluctuations in a few stocks is
about all that can be expected.
Many millions of dollars are to be pro-
Siueo ior corporate purposes around the
nrst OF the coming month. Easy money is
~ "a, az 1iie".iH hA!uie {, anu the year enQ
viii see further hardening Of rates, with
prospect of gold shipments in between
The coal strike being settled is an important
help to the situation, and earnings should
shortly begin to pick up. Discriminating
purchases on the weak days should turn
out well.
The bank statement reports an increa Sc
of S,J26,s0O in loans and gain Of $17.C62-
ODD In lawful money. The deposits are
larger by $40, 559, 800 and the reserve on ali
deposits, including those of the government,
is s12 1922 The increase in loans is the
one feature not wholly satisfa Glory