Evening star., 1905-10-18
Market Opened Today Under
Material Pressure.
THE SELLING LIBERAL
OTHER LIQUIDATIoNS OF MORE
SPECULATIVE NATURE.
Dav of Rumors on the Street-Yes-
terday's Curb Dealings the
Quieting Cause.

Special Dispatch to The Star.
NEW YORK. October 18-Today's stock
market opened under material PRESSURE
originating from several directions For
eign houses were sellers on fairly Iperai
scale. there was much concentrated iocai
selling of the character spoken OF IN "ai
street as good. and there was otner iiau'ua-
ton. seemingly OF more speculative ma
ture. It was actually this last described
sell Ing to which the most Importance was
attached.
1t was a day of rumors in Wall street,
and the reports current took various turns
although careful investigation failed to DIS
close any foundation IN fact for any oi
them.
1t was highly probable that yesterdays
spectacular performances In the curp mar
ket which were rereated this morning on
diminished scale, were the incit1ns cause
of most of the vague rumors In cireulatioh'
but 1t may be repeated that no substantial
ton of any of them could be obtained.
Aside from the reports in question there
was practically nothing novel In the DAY 8
situation OF general Importance.
The London Market.
Iondon's closing was conducted in this
market despite the fact that the stock
market at that point enjoyed substantial
rally with the course of the business ses-
sion, on quite confident, although. OF
course, unofficial assurances that no IuFther
advance would be made in the Bank OF
Englands discount rate tomorrow.
Sterling exchange opened strong, ana
later scored q further sharp advance. Inc
September foreign trade statement, issued
today at Washington by the Department OF
Commerce and Labor. showed an excess
of merchandise exports of something less
than $4,000, 900, against an excess In sep
tember of 1904 of more than soeooo,"o.
Merchandise imports during the month
were $1S.0ooOoo in excess OF those Tor the
corresponding period of last year.
The local money market was a shaoe
easier.
This mornings figures of the transaction
between the banks and the sub-treasury
showed that the former have gained on pdi-
ance since last Friday S1,S9S,VOO, but there
was little discussion OF the relation De
tween these figures and the probabilities OF
Saturdays bank statement. Although the
stock market enjoyed quite a general RAINY
from its initial depression, the tradlns soon
lapsed into irreguiarity again, and the mar
ket during the greater part OF the business
session displayed distinctly sassihs 'en-
dency.
There were some sharp advances scored
in the Industrial quarter, but in the rail-
way list the drift was distinctly downward,
with only few stocks moving counter 10
the general tendency.
The anthracite coal shares were rather
exceptionally firm in the early part OF the
day but later weakened also. The Erie
stocks were distinctly heavy from the out
set of the market.
The volume OF business was somewhat N
excess of recent averages. but there was
poor distribution of activity. The most
active features of the market were Ameri-
can Locomotive and Amalgamated Copper.
A rise of nearly five points In American
Locomotive. In face of the downward drift
OF the general market. naturally gave
conspicuous place in the days dealings TO
that stock.