Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-10-18
Opening Was Active and De-
cidedly Irregular.
q. s. STEEL PROMINENT
DECLINES MARKED A NUMBER OF
LEADING STOCKS.
Rally Followed With General Rise
Market Responded to Heavy Buy
ing-Prices Soon Fell Back.

NEW YORK, October 1S.-The opening
in the stock market today was very active
and decidedly irregular The declines were
found among the Pacifcs. grangers,
scuthwesterns, subsidiary Pennsylvania
stocks and the iron and steel industrials.
There were 1900 shares OF United States
Steel preferred sold at the. opening at S21s
and S2ss compared with S2s last night. and
1900 shares of the common at ~ and 22ls.
compared with ~ last night. Six thousand
shares OF Reading changed hands at an ad-
vance of ". There were blocks OF thou
sand to twelve hundred shares in number
of the other leaders. Union Pacific ana
Kansas and Texas sold at decline of ".
and Norfolk and Western rose y. Changes
otherwise were less than a Y and very
much mixed
Business fell off while the movement was
irregular, but increased to yesterdays aver
age again when the rise was resumed.
Reading. Erie, Missouri Pacific and United
States Steel preferred were foremost in
the rally that occurred before IL O'Clock.
and the general market promptly respond
ed to the heavy buying of these leaders.
United States Steel preferred brought
S}ss, and improvements of l to IA We're
recorded in Reading and the second pre-
ferred. Erie, Delaware and Hudson, Cen
sas and Texas preferred, Northwestern,
Norfolk and Western, Chicago Great West
ern, the Iowa Central stocks, Colorado
Fuel, Colorado and Southern Metropolitan
Street Railway, General Electric and North
American.
Consolidated Gas was unusually active
and rose points, to 2lS11 and Brooklyn
Union Gas rose tx. American Express lost
2, and Ice preferred and Rock Island pre-
ferred declined a point but the latter made
up nearly all of the loss. Opening losses
were rather more than recovered in all
cases, but prices were below the best again
at IL o'clock.
The reaction carried United States Steel
preferred rs and st. Paul II under last night
and ran to a moderate fraction generally
Missouri Pacific was then pushed up to
1858. and later Brooklyn Transit was lifted
15s Wabash preferred u. the Iowa Central
stocks to 2&, Minneapolis and ST. Louis
49, and Westinghouse Electric l.
The response in the general list was in
different, and stocks which had not made
notable advances fell back to the low level
of the first hour Cotton OIL. Corn Prod
ucts and Paper preferred lost l to rs
Cleveland, Lorain and =. heeling preferred
jumped 81 points and Lake Erie and West
ern preferred ) single sales st. Paul
was rushed up to Ill at noon. with slight
effect on the general list. Realizing in
some of the speculative bonds made that
department irregular.
After st. Paul reached 1t1A Union Pa
cific was bid UP to near los. but the mar
ket was very moderately affected. Sugar
rose 11s on few transactions. and there
was further rise in the Iowa Central
stocks, the common gaining 4 points. In
ternational Power dropped 6E.
Aggressive buying of the standard stocks
was suspended and prices yielded fra ction-
ally when ST. Paul reacted point and Mis-
souri, Pacific Is. Confident buying of va
rious specialties contributed to a better tone
later and at 2 o'clock the market was ris-
ing United States Leather gained Ia and
Brooklyn Transit 2.