Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-06
Very Little Change in Mar
ket Conditions Today.
MONEYTHEMAIN THEME
INTEREST AUGMENTED By PRE-
LIMINARY ESTIMATES.
A Heavy and General Calling Of Loans
Was Noted-The Foreign Ex-
change Was Heavy.

Special Dispatch to The Star.
NEW YORK, October 6-There was no
change at all today in the essential charac-
teristics of the stock market from those
which have been presented throughout the
week Money market conditions were again
the sole theme OF discussion. and interest
therein was augmented by the usual pup
Hcation of the preliminary estimates OF the
principal movements OF currency with the
course Of the week.
These indicated loss in actual cash py
the banks In the neighborhood OF H,OOo,ooo.
of which less than 81, 100000 was sustained
in their net transactions with the SUD-
treasury This was a disagIeeable re-
minder that the interior exchanges are SUN
setting strongly against New York. and
the publication of the figures led to a fresh
selling movement In the stock market.
There was again noted a heavy and gen
erai calling of loans. which may nave peeh
partly increased on account Oh the se"ien
Renewals of standing loans were COM
monty fixed at per cent, and that inquire
represented the fair average rate at WHICH
new borrowings were arranged
The foreign exchange market was heaVy
and London cables spoke positively OF the
engagement at Paris of nearly A,4ooVo
gold for shipment to New York.
During the greater part or the business
session however, no definite confirmation
could be locally obtained OF these reports.
About the only development OF Importance
aside from the money market was tne sea a
pronounced weakness IN cotton. which was
of itself a gratifying development, not
withstanding that the fears tnat II might
result in business casualties We're named as
an additional factor in the heaviness OF the
stock market. The London market con-
tinted weak for the same reason that was
the dominating factor in the local tradlns'
namely: Apprehension with regard TO money
market Developments.
Foreign houses were sellers here to the
extent of about oO.000 shares. Little at
tention was paid to the earnings statements
which were reported, although they consu-
tuted the only real news relating to fndi-
vidual stocks. Both the Union Pacific and
Southern Pacific made exceedingly hand
some returns. In the industrial quarter, on
the other hand, the semi-annual report of
the United, States Ruboer, Company was
accounted disa ppointing and led to rather
marked pressure upon the stocks concerned.
It was not necessary, for the most part,
to attempt to discover other than technical
reasons for the course followed by one stock
or another. The contest for proxies to be
voted at the Colorado Fuel and Iron meet
Ing impaired comparative strength to that
stock. and the Republic Iron and Steel
shares enjoyed an early advance on reports
that measures were In progress looking. to
ne payment of the accrued dividends on the
preferred.
American Tobacco preferred was excep-
tionally strong, while Amalgamated Copper,
the United States Steel shares and the
other usually active Industrial stocks. par
ticipated In the uncertain tone of the mar
ket at large. Current estimates of the
earnings of the United States Steel Corpo-
ration for the ended quarter show unusually
wide variations, the rumored figures rang
ing between So, 900 600 and S36 O0o. 600.
The fluctuations in the railway list fol-
lowed the prevailing whim of the profess
sional traders OF the floor, who alone
seemed disposed to embark upon specu-
"a mt aud fhnt,
tied seaie.ss, tE's-. -
Many of the higher-priced stocks showed
maximum declines extending to points
with rather noteworthy weakness In Great
Northern and Northern Pacific although
naturally the declines there took place on
very small transactions