Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-17
Fair Increase in Activity
Marked Today's Dealings.
FAR BELOW AVERAGES
SPECULATIVE SENTIMENT NOT
SHAPED OVERNIGHT.
Still Further Hardening of Ratss Tor
All Time Accommodations Was
Observed.

S1ecial Dispatch to The Star.
NEW YORK, October 1T.-There was a
fair increase in activity in todays STOCK
market in comparison with yesterdays ag-
gregate but the total volume was still far
below the averages which were recoroed
previous to the advent of serious concern
regarding the monetary SITUATION lhe
tone of the market was generally firm, al
though price movements were still irregu-
lar and despite the increased activity there
were protracted periods of intense dizziness.
Nothing whatever happened overnight
calculated to shape speculative sentiment
one way or another The money market
opened with a rather easier tone than was
shown in yesterdays early dealings. there
being quite liberal offerings of money on
call at per cent. That figure would be
fair average rate to quote for. the day S
borrowings on call
A still further hardening in the rates for
all terms of accommodation on time was
observed. Sterling exchange rose still
further, rejecting the demand for remit
tances against maturing obligations.
In London the scramble for gold In the
open market was the chief feature of the
financial situation, with the Bank of Eng
land an apparently successful competitor
against other bidders. The banks action
created favorable rather than contrary
effect upon the London stock market, as
1t was assumed that it was taken for the
purpose of avoiding an advance in the
banks discount figures on Thursday The
LcLdon stock market, which had been
rather heavy in the early part of the day,
recovered somewhat with the course of the
business session
The Price Changes.
The price changes shown in American
stocks and the operations for foreign ac-
count in the New York market were. how
ever, too crcumscribed to have any appre-
ciable effect in the local dealings. Taking
into account the relatively light total vol
ume of transactions, the stock market
showed very general distribution of inter-
est. At the same time the business of
commission houses was again upon a very
small scale. but the absence of anything
like genuine liquidation facilitated the oc-
caslonal bidding up of prices by the floor
traders.
Even the striking movements in such
stocks as Delaware and Hudson and New
Jersey Central both of which sold at new
high record figures, seemed to be caused
directly by operations of this character.
The other anthracite coal stocks were firm
under the inspiration of the leadership of
the higher priced issues mentioned, and
Erie common showed rather more anima-
ton than has been present In that instance
IN some weeks. Movements elsewhere in
the railway list were neither particularly
impressive nor. Significant q = 80 =
In the early dealings there was quite a
smart advance on unusually large transac-
lions in the Missouri, Kansas and Texas
shares. for which no very definite explaRa-
tions were vouchsafed
The local traction issues were firmer ant
more active than for several days past
with quite pronounced animation in Brook
Ign Rapid Transit. Transactions in the in
dustrial and miscellaneous stocks We're in
accord with those elsewhere in the market
Amalgamated Copper was very strong and
active. In advance of Thursdays action Of
the directors on the dividend as expecta
tons are entertained that an increased dis
tribution of profits will be ordered. The
United States Steel stocks were activel,
dealt in, and what appeared to be quit
heavy liquidation in that direction was re
markedly well absorbed.