Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-11-16
Large Increase in Volume Of
Business Today.
Observation-Disclosures
LOWER PRICES WERE COMMON At
OUTSET OF MARKET.
Somewhat Firmer Tendencies Appeared
in London-Monetary Condition
Showed Further Relaxation.

Special Dispatch to The Star.
NEW YORK, November 16.-There was
large increase in the volume Of business
in today's stock market, general distribu-
tion of activity was apparent and num-
Der Of stocks-in fact. nearly all the ac-
tive issues-made substantial advances.
Notwithstanding the circumstances In ques-
ton, 1t was still true that the dealings
presented appearances Of considerable IT.
regularity.
Lower prices were common at the outset
of the market. the tone Of the dealings at
the time being derived from London, where
some unsettlement was evident In connec-
tion with the increased disturbances In the
Russian empire. Russian imperial per
cent bonds declined in consequence more
than one point.
Somewhat firmer tendencies appeared in
the London market with the course OF the
business session, and the dealings here LOT
foreign account. which were in small vol
ume. had trifiing net results.
Monetary conditions showed further re-
Taxation, with the bulk OF the borrowing
on call arranged between 8 and N per cent
Wall street was more impressed with the
apparent turn in the money market than
with the violent recovery in sterling ex-
change.
Foreign Trade Report.
The usual monthly statement Of the coun-
try's foreign trade showed that in October
merchandise imports increased nearly 49,
100000 while exports of our products de-
creased more than $s000.000. In conse-
Quence the month showed an excess OF ex-
ports of only S48.ssO.O0o against an excess
of 500 $50 coo in the corresponding period
OF last year. In their operations with the
subtreasury the banks have contrived to
reduce their loss to that institution with the
course OF the clearing house week to $y2l,-
600, and hopes were again expressed that
Saturdays bank statement would show
that the bank reserves had been restored
well above the lawful requirements.
In view of this mornings disconcerting
intelligence from Russia, and considering
the extent Of the recovery In prices from
the low level reached on the money scare.
it is probably safe to say that few observ-
ers OF stock market affairs were prepared
for what actually occurred in tOday's deal
ings. There was really very little news,
save of routine character, relating to
particular stocks.
Amalga mated Copper. which was one OF
the frmest and most active features OF the
market. benefited doubtless from a fur
Their advance of IL cent in the selling
prices for all grades Of refined copper but
there was no very definite explanation of
the striking upward movement in the
American Smelling stocks and National
Lead. The regular dividend was declared
on the preferred stock Of the latter.
Industrial Dealings
Elsewhere in the Industrial quarter there
were large dealings at advancing prices IN
Allis-Chalmers, American Tobacco pre-
ferred. Sugar refining. Knickerbocker Ice
of Chicago, Sloss-Sheffield and Tennessee
Coal and Iron.
There seems to be little doubt that Inn
portant measures are in progress In the af-
fairs of the two last-named companies, but
1t is difficult at the moment to obtain def
mite information with regard to their scope
or final intent.
The movements in the other Industrial
stocks named We're unaccompanied by any
specific news or gossip. Railway Steel
Spring broke very sharply In the early
dealings, but later recovered good part
of its loss.
Leading features Of the railway list were
Union Pacific. Reading, st. Paul, Missouri,
Kansas and Texas, New York Central and
Delaware and Hudson. Elsewhere price
changes were irregular and comparatively
small. There was little to be adduced in
connection with even the more striking
movements in this quarter of the market.
The local Traction stocks were not par
ticularly active. with the exception or
Brooklyn Rapid Transit. which was also
the strongest member Of that group.