Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-03
Transactions in Securities in
Reduced Volume.
MARKET IRREGULAR
DEPRESSED PRICES IN LONDON
AFFECTED ALL MOVEMENTS.
Governments Report Caused Cotton
Break-Stock Dealings Continued
on Diminishing Basis.
Special Dispstch to The Star.

opeClhi bispbttl 10 Inc
NEW YORK, October 3.-Transactions in
securities today We're in largely reduced
volume. and the markets tone was irreg-
ular and. generally speaking. heavy. The
initiate tendencies were derived largely
from London, where prices were oppressed
on account of the further gold shipments
to New York, and also because of an adj
vance IN the discount rate OF the Imperial
Bank of Germany from A to per cent,
although the Iast-named circumstance had
been expected in view of the last week S
action of the Bank of england
Little alienation appeared In the local
money market, SO far quoted rates were
concerned. although offerings of funds were
somewhat freer than they were last week
Further transfers of currency to interior
points were arranged through the sub
treasury, burt, according to this morning S
figures the banks have reduced their loss
TO that institution since last friday to an
amount a little in excess of 81 100000.
Sterling exchange was decidedly firm, pre-
sumably in connection with the arrange
ments Incidental to rne large importation
of gold announced yesterday.
Other matters of general Importance in
cluded the publication of the government S
weekly weather bulletin, which showed
Ideal conditions so far as the cereal crops
were concerned, and also the monthly re-
port of the Department of Agriculture upon
the condition of the cotton crop The lat
ter showed only trifiing depreciation from
the August estimates. and the figures were
followed by violent break in cotton OPP
tons The grain market was steady, but
with the present. assured yield of those
staples the prevailing prices may be regard
ed with complacency.
Price Movements Irregular
Stock market dealings were upon some
what steadily diminishing basis of activity.
The Industrial and miscellaneous stocks
furnished a large proportion of the total
recorded transactions. but price movements
there were for the most part as limited and
irregular in the general market.
The increased dividend recently declared
upon Railway Steel Spring seems to have
stimulated interest in the other minor in
dustrial stocks, and there were today noted
large transactions at advancing prices in
Cast Iron Pipe. Central Leather, American
Wooden, International aPper and other
stocks of the same general classification.
In the higher grade industrial securities
there were substantial advances in Anal
gamated Copper American Smelling and
Sugar Refining, while, for no readily under
stood reason, the United States Steel shares
were relatively heavy. The local traction
issues were firm, with rather notable activ-
ity in Brooklyn Rapid Transit.
The Railway List
During the greater part of the day fluc-
tuations in the larger part of the railway
list were confined to small fractions. Lon
don houses were sellers of the information
ally listed stocks to the extent of about
2nUjJ shares, and the large concentration
Of interest upon the Industrial quarter OPP
Grated against greater activity in the rail-
way department.
Louisville and Nashville was an excep-
tiCually firm feature there. and other in
tereSting movements were furnished by
the strength of Great Northern preferred
and the coincident heaviness of Northern
Pacific.
The rather pitiable aspects of the Wabash
controversy excited only a mild interest
and the Wabash securities were not espe-
cially prominent in the dealings. There
was little news otherwise relating to indi-
vidual securities
Trading was no less professional than it
has been of late, and the really most strik-
I'M; feature Of the stock market was the
utter absence of pressure representing ac-
tual liquidation.