Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-10-14
FINANCE AND TRADE
The Stock Market Was Very
Irregular Today.
OPENING WAS STRONG
LIQUIDATION IN CANADIAN
GROUP CAUSED SLUMP.
Some Of the Railroads Rallied From the
Depression Later in the
Day.

NEW YORK, October 1.-THE feature of
the stock market in the early trading today
was the apparent liquidation in the various
stocks of the Canadian group. Canadian
Pacific, which opened with full point ad-
vance on London's lead soon lost all it's
gain and more. Minneapolis. st. Paul and
Sault Ste. Marie common after a fractional
advance, declined 2 points. Twin City Rap
id Transit lost 21a and Detroit United Rail-
ways 31s. Aside from the disturbed cond-
ton of the stock market throughout the
Canadian provinces. particularly in Mon
treal, there was no news to account for the
break in these stocks
Crucible Steel preferred made a further
decline to A on profit taking. but rallied
at noon to AN. The common was firm at
5A. During the morning the market re-
ceived excellent support The galleries of
the exchange were crowded all day in ex-
pectation of another exciting session.
There were very heavy dealings in United
States steel at an advance of Il, the first
block of 5000 shares being followed by a
transaction in 5000 shares. Dealings were
on moderate scale.
Selling of the Canadian group of stocks
led TO some realizing elsewhere and open
market ignored this influence later and
some of the leaders rallied to well above
their first prices. Baltimore and Ohio,
Louisville, Reading common and second
preferred, Illinois Central, ST. Paul and
Colorado Fuel were among those which at
IL O'Clock ruled a point or more higher
than yesterdays close. Westinghouse Elec-
trio gained "a, and Locomotive preferred
yielded IL. Twin City Rapid Transit re-
covered its loss
The price movement turned downward in
sympathy with a reaction of 1is in Amalga-
mated Copper. Some stocks touched the
lowest of the morning. Southern Railway
preferred, Wisconsin Central preferred and
American Car fell TO IL below last night.
There was a rise of 112 in Consolidated
Gas. The market lapSed into Selni-Stagna
ton with the uncertainty caused by the
irregular movement. Bonds were steady at
noon.
The pressure against Amalgamated con-
tinued until it forced down to 343s.
Some OF the other metal stocks became
heavy, but the market in general was
steady and quite dull. The reduction in the
dividends of the Vulcan DEFINING stocks
caused offers of the common stock at II
and the preferred at 80, compared with
previous transactions at 24A and 20, re-
soectively.
Minor specialties gave the only evidence
of weakness. railroad stocks falling into
neglect soon selling began. Twin
City Rapid Transit returned to its low
point of the morning, and Minneapolis St.
Paul and Sault Ste. Marie went a point
lower. Canadian Pacific shared in the
weakness of these stocks and lost is.
American Car preferred Smelling prefer
red, Metropolitan Street Railway, North
American, Biscuit. Rock Island preferred
and Wisconsin Central preferred fell off
between l and points. and Pullman ).
There was drop of 10 points in Third
Avenue. The Vanderbilt stocks. after long
neglect, came into demand, and a rise Of
E11a in the group caused a stiffening in
prices at other points. Canadian Pacific
more than recovered its loss.