Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-11-24
A Marked Contraction in
Activity Evident
IN TODAY'S DEALINGS
GENERAL TRANSACTIONS SHOW.
ED UNCERTAIN TENDENCIES.
London Prices Depressed Owing to
British Political Situation - Few
Changes in Money Ratings.

NEW YORK, November 24.-There was n
marked contraction in activity In today s
stock market and the dealings in general
showed the same highly uncertain tenden-
cies that have been displayed throughout
the week. and also the maintenance of what
is technically described as a firm under
tone.
There was no news of any consequence
over night. and. as usual, Spectators de-
voted their initial attention to the London
stock market. Prices there were generally
depressed on account of uncertainty as to
the English political situation. and because
of some uneasiness respecting Turkish and
Russian affairs.
Americans Declined.
American stocks declined In common with
the other departments, and operations here
for foreign account resulted on balance in
the sale OF about 10000 shares.
Money market conditions showed little
alteration. despite which sterling exchange
was weak. The preliminary estimates of
the principal movements in currency since
the compilation OF the figures of last
weeks bank statement Indicated gain
by the banks of cash in excess of $3,OOO,-
900.
This sum was derived entirely from
currency reports from the interior, as the
transactions between the banks and the
subtreasury during the week had negative
results It would appear that so far as
tomorrow bank statement Is concerned,
the outcome. so far reserves are con-
cerned will depend largely upon the
changes IN the loan account.
National Lead also rose sharply, and 1t
goes without saying that the movement In
that stock put the wearisome Deal ru-
mors with the smelling company in circu-
lation again. Other strong features OF the
industrial quarter were Central Leather.
Amaisamated Copper, Tennessee Coal and
Iron. Sloss-Sheffield, North American and
the United States Steel stocks.
The last-named were heavily dealt in,
ami the preferred after allowing for the
dividend. advanced TO the highest price on
record.
Clearing House Lenders.
The clearing house banks have been unus-
ually large lenders of money on call this
week, and this renders 1t likely that the
loan item may show some expansion.
The commodity markets fiuctuated irreg-
ulariy, and there were few developments of
any consequence relating to Individual
stocks.
The latter included the announcement that
the new issue OF General Electric stock will
be made at par to the present shareholders,
who will be permitted to subscribe to n
per cent Of their holdings. The few state
ments of earnings made public and other
routine circumstances are printed else
where.
Dealing Reflected Shifting.
Broadly considered, the dealings seemed
to reflect further shifting of interest from
many recently active issues into other Sc
curities. Notwithstanding that however
such stocks Reading and American
Smelling, which were leaders in the recent
rise, but which were reactionary yesterday,
today. showed decided animation.
The International Paper stocks were also
unusually active. but there was little Cos
sip relating to the dealings in those securf-
ties aside from calculations with regard to
their current exchanges 1t is said that
these equal at the present time fully per
cent on the common stock. The movements
in general In the Industrial and misceIla-
neous group were accompanied by a lot OF
other discussion than similar prosaic con-
siderations.